President’s Message
This has been a year of transformation. In March, we established the Trusted Fraternal Life family of brands—which includes Degree of Honor and Catholic Financial Life—launching the “NextGen” fraternal benefit society.
Our vision is to be the innovative leader in fraternal partnerships and consolidation while growing existing business, and engaging more people to enjoy financially secure, purposeful lives.
But we’re not growing just for the sake of growing.
We’re growing to help families financially secure their futures.
We’re growing to enhance quality of life and have a greater impact on the communities where our members live.
And we’re growing to pass our tradition of serving God by serving others to the next generation.
In this issue of Honor, you’ll find updates about what we’ve accomplished toward achieving our vision, including welcoming Woman’s Life Insurance Society in Port Huron, Michigan, to the family of brands in September; and how we expect to complete the merger of Catholic United Financial with Trusted Fraternal Life in January 2025.
The Trusted Fraternal Life family of brands exists to make a difference in the lives of our members, their families, and the community. What we’ve accomplished in 2024 is a testament to our purpose and commitment.
We’re just getting started, and I’m excited for the future as we continue to build the NextGen fraternal benefit society.
Thank you for your membership. It is our privilege to serve you.
God Bless,
Board of Directors
John Borgen, Richfield, WI President and CEO
Kristen Mueller, Greenfield, WI Corporate Secretary
Sandra Dempsey, Milwaukee, WI
Mike Giffhorn, New Berlin, WI
Coral Grout, Winchendon, MA
Joe Kopinski, Greenfield, WI
Al Lorge, Cedarburg, WI
Lisa Mick, Fond du Lac, WI
Kari Niedfeldt-Thomas New Brighton, MN
Susan Obermiller, Green Bay, WI
Bill O’Toole, Pleasant Prairie, WI
Jeff Tilley, Franklin, WI
Honor is an official publication of: Degree of Honor, 1100 W. Wells St., P.O. Box 3211, Milwaukee, WI 53201-3211.
Copyright
Trusted Fraternal
John T. Borgen President and CEO
What’s Happening at Trusted Fraternal Life
Catholic United Financial Announces Intent to Join the Family of Brands
Catholic United Financial (CUF) and Catholic Financial Life have been collaborating on various initiatives for many years, so it’s a natural next step and a reinforcement of shared values for CUF to announce its intent to become a brand of Trusted Fraternal Life (TFL).
Delegates for CUF voted 137-6 in favor of the merger at the Triennal Conference on September 14. The TFL Board unanimously voted to approve the merger on September 24.
The merger is expected to take effect January 1, 2025. The result will be an organization with nearly $3 billion in assets and over 215,000 members.
It’s Official: Woman’s Life Insurance Society Joins the Family of Brands
Woman’s Life officially became a brand of TFL on September 1, joining Degree of Honor and Catholic Financial Life in the family of brands.
The merger of Woman’s Life with TFL represents a significant milestone toward building the NextGen fraternal benefit society, serving more “Main Street” families, and making an even greater community impact across the country.
John Borgen, President and CEO, Trusted Fraternal Life, and Mike Ahles, President, CEO and Board Chair of Catholic United Financial.
Woman’s Life Chapter 800 - Columbus, OH
Live Confidently in Retirement with Guaranteed Income
Creating a guaranteed income stream is important to consider as people plan for retirement, as well as for individuals who are already in retirement, to ensure that they do not outlive their savings. One way to accomplish this is with an annuity.
But what exactly is an annuity and who should consider one?
What is an annuity?
In technical terms, an annuity is a contractual obligation between an individual and a life insurance company where the individual makes a series of payments or one-time payment to the company in exchange for regular payments over the lifetime of the individual.
In simpler terms, an annuity can be compared to social security. Americans pay Social Security over many years through FICA contributions and then receive a benefit for the rest of their lives when they retire. Annuities offer the same comfort of receiving a guaranteed income over a lifetime.
Why consider an annuity?
There are several appealing features to the purchase of an annuity.
First, annuities are protected against market risk. No matter what is happening in the market, with a fixed-rate guaranteed annuity the rate of return is guaranteed.
Another appealing feature is that in an age of fewer pensions offered by employers, an annuity is like funding an individual pension. Annuity payments provide dependable income that can supplement Social Security or can provide a bridge to Social Security in early retirement.
Another feature is the IRS provides a major tax advantage where the growth of the annuity in the accumulation phase is tax deferred, meaning it’s not subject to federal income tax. This feature may be more or less attractive based on the tax rate for long-term capital gains.
But perhaps the most attractive feature of an annuity is it solves the potential risk of outliving savings and other assets in retirement. A simple illustration can explain how outliving financial resources could happen. If an individual has $300,000 and plans to take out $25,000 per year, that person would exhaust assets in 12 years.
But an annuity can be guaranteed to pay for the lifetime of the individual, providing peace of mind and confidence in retirement. In essence, an annuity allows you to create your own paycheck.
We’re here to help
With every stage of life there are financial concerns to consider. Ultimately, an annuity is the only financial product that can provide an individual with a guaranteed lifetime income.
To inquire about annuities, contact your representative or call Insurance Solutions at (800) 965-2547. Advantages
• Guaranteed regular payments for a lifetime
• Confidence an individual won’t outlive financial resources
• Money in an annuity grows tax-deferred
• Protection against volatile markets
• Fixed annuities offer guaranteed rates of return
• Annuities can be structured to meet individual needs
• Option to designate a survivor or spouse for benefits
• Option to pay a death payout to a beneficiary
To learn more about annuities, go to the Financial Wellness Hub—a free benefit to all members. You can access the Financial Wellness Hub at degreeofhonor.com/ financialwellness. Be sure to check out the Annuity Series in the Retirement Planning section.
Being a small school, there isn’t always a lot of extra funds, but something as small as the idea of our Sunshine Cart can make a huge impact. —Ashley A.
Impact Teams: Do Good Things
There are endless opportunities to perform acts of service in your community once you start to look for them. Here is a recent Impact Team initiative to inspire you!
Spreading Kindness
When you do good things, the positive impact spreads and can inspire others—and in this case, the next generation! Madisyn, Cooper and Collin are young students from a small town in Wisconsin who wanted to find a way to spread kindness and brighten the days of their teachers at their school. With a little help from their parents and a few quick searches on Pinterest, they came up with the idea of creating a Sunshine Cart!
“The kids loved the idea of a Sunshine Cart and were excited to surprise the teachers,” said the kids’ mom, Ashley. “We picked random days and incorporated fun themes to do each month.”
The Sunshine Cart was filled with snacks, drinks and school supplies for teachers and staff. Themes included were “Orange You Glad its Friday?” and “Root Beer Floats.” The kids took turns pushing the cart through the school halls and were thrilled to see the faces in the classrooms light up when they arrived.
“I loved visiting each of the teachers with the Sunshine Cart and seeing them smile!” said Cooper.
The Sunshine Cart was such a success that it continues this school year, with other families signing up to coordinate it each month.
Organize Your Own Impact Team! Let us help you do good things in your community. Gather a team to put on a service project or fundraiser. We’ll provide the resources you need to get started, t-shirts and $150 in seed money. Then you and your Impact Team can get busy doing good things. Go to degreeofhonor.com/impact-teams for service ideas and information on how to get started.
Don’t Miss These Benefits & Opportunities
As a member of Degree of Honor, you have access to value-added member benefits for you and your family, including scholarships, educational resources, contests, and family-friendly activities at discounted prices. Visit degreeofhonor.com/memberbenefits for a complete list of member benefits.
Apply for Scholarships
Every year Degree of Honor offers tuition scholarships for members who are students in elementary school through college. Over the last five years, more than $1.1 million has been awarded to nearly 3,000 members!
Members attending a Catholic grade school are eligible for $200, Catholic high school $500, and any college or university $500 or $1,000 depending upon whether a member attends a two-year or four-year institution.
The deadline for the 2025-26 school year is March 31, 2025. Visit degreeofhonor.com/scholarshipprograms for additional qualification information and application details.
Get Answers to Financial Questions
Take control of your financial future with educational tools that will help you make wise financial decisions for you and your family.
2025 Fraternal Celebration
The Financial Wellness Hub is a free member benefit that showcases educational material on virtually every financial topic there is … from life insurance and annuities, to loans and investments, to financial planning and retirement, and everything in between.
With easy-to-understand videos, articles and financial tools, you can gain the knowledge you need to confidently make financial decisions.
Access the Financial Wellness Hub at degreeofhonor.com/financialwellness
Protect Your Pet
A new pet care benefit can help safeguard your furry friend’s health with a 10% off benefit for members. Carefree Pet offers an array of resources and discounts to ensure your pet receives the best care possible. There are three comprehensive plans tailored to meet the unique needs of your furry friend.
Benefits can include:
• Access to unlimited vet support
• Affordable pet insurance options
• Innovative ID tags
• Bundled discounts on pet-care essentials
• Furniture repair and replacement
Visit pet.carefreesavings.com/cfl to fetch your quote and get started today.
Coming Soon!
The 2025 Fraternal Celebration is officially on the books for September 26-28 in Milwaukee, Wisconsin. This celebration promises to be like no other as members from every Trusted Fraternal Life brand will gather together.
The family of brands includes Catholic Financial Life, Woman’s Life, Degree of Honor and Catholic United Financial, pending regulatory approval. With well-known speakers and entertainers, local talent, and sessions with leaders from each brand, we will celebrate the ties that bind us into a collective force for good. And how together, we are building the NextGen fraternal benefit society.
TAKE CONTROL OF YOUR FINANCIAL FUTURE
with a Member Benefit
No matter your age or stage of life, making wise financial decisions just got easier. As a Degree of Honor member, you have free access to a member benefit—the Financial Wellness Hub—where we put you in the driver’s seat to learn how to make wise financial decisions.
With easy-to-understand videos and articles, topics range from life insurance and annuities, to loans and investments, to financial planning and retirement, and everything in between!
We’ll help you gain the financial knowledge you need to confidently make financial decisions for you and your family.
To access the Financial Wellness Hub, go to degreeofhonor.com/financialwellness or scan the QR code below.