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LUSO
AMERICAN
Proposed agreement of merger LAL/SPRSI
(see pages 8-11)
50th Anniversaryof the merger
The Benevolent Society of California andthe Portuguese Continental Union of California
.
SPRING/ SUMMER 2007
Mison Saeet
To be the premier provider of life insurance,
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nancial productsand fraternal services to Luso-American communities.The Luso-American is published as a service to the members of the Luso-American FraternalFederation, Portuguese Continental Union and the Luso-American Education Foundation,divisions of the Luso-American Life Insurance Society.
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1 Message from our CEO2 Societies United-19578 LAL/SPRSI Proposed Agreement of Merger 12 Luso-American Education Foundation20 Convention Queen Contestants23 Luso-American Fraternal Federation Visits31 20-30’s Spotlight32 Fraternal Spotlight33 Holidays36 PCU Lodge Activities41 Sales Representatives
In Ti Is
Please enjoy this special issue as we highlight the East andWest Coast Presidential Visits as well as the 2007 ConventionQueen Contestants and 2007 Education FoundationScholarship Recipients.We would like to thank those who contributed to thismagazine by submitting photographs and information. If youhave additional photos that you’d like to submit for the 2007Calendar or 2007 Winter Issue please mail them bySeptember 30, 2007.Please send materials to:
Attention: Luso MagazineP.O. Box 2968, Dublin, CA 94568or email it to: LusoMagazine@yahoo.com
Thank you for your continued support,
Mihl DSlv & Ca Moe
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15 Presidential Kick-Off for 2007-200822 LAEF Annual Golf Classic (Castro Valley)
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27 National Council Special Meeting
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1 Luso-American Annual Christmas Meeting & Party8 Portuguese Continental Union Annual ChristmasMeeting & Party
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All dates are tentative. Please con
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rm with home of
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ce.Be on the look out for your Activities Calendar with more activities and details!
Past, Present& Future
In the ensuing pages, we commemoratethe merger of the Benevolent Society of California and the Portuguese Conti-nental Union of the State of California(UPCEC), which occurred
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fty yearsago on July 1, 1957. The BenevolentSociety’s history dates to 1868 and theUPCEC to 1917.More recently, in 2002, the Societyteamed up with the PCUUSA to estab-lish a truly national organization with amuch-strengthened
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nancial posture.Once again we are on the verge of mak-ing history with the merger of the Luso-American Life Insurance Society (LAL)and the Sociedade Portuguesa RainhaSanta Isabel (SPRSI). Over three yearsago, our two Societies began seriousdiscussions about the possibility of analliance. The proposed “Agreement of Merger”, which would be effective Janu-ary 1, 2008, is published here in con-formity with Califórnia State laws: “...atleast 60 days prior to the action of thesupreme legislative or governing bodyof each Society, the text of the contracthas been furnished to all members of the society by being sent by mail or bybeing published in full in the of
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cial pub-lication of the Society”.In its most recent Society Bulletin, theSPRSI published the “Agreement” andthen at its mid-July Convention in UnionCity, Califórnia its supreme governingbody approved it.A special meeting of the National Coun-cil of LAL is tentatively scheduled for Saturday, October 27, 2007 to take our Society’s action on the “Agreement”.The Board of Directors and manage-ment strongly support the approval of the merger as being in the best interestsof both societies. For many years, wehave been coexisting fraternal bene
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tsocieties sharing a common bond andhave been aware of each other’s activi-ties, structure and traditions.We also have a standing invitation to our “sister” fraternals to enter into the merg-er process with us and to protect thegeneral business and
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nancial interestsof all. We now have a tremendousopportunity to follow through on both.
LAL
LAL is authorized to do business in ninestates including California, Nevada, Ida-ho, Massachusetts, Connecticut, NewJersey, Rhode Island, Pennsylvaniaand most recently Florida. LAL has over 16,000 policyholders and members and109 Councils and Lodges in 11 states.Approaching $64 million in assets andalmost $9 million in surplus, Luso-Amer-ican Life Insurance Society is well po-sitioned
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nancially to take advantage of alliances of this nature.
SPRSI
The SPRSI was founded in 1898 inOakland, Califórnia. Over its 109-year history, the Society has proudly andexclusively served women of all ages.With 84 councils situated throughoutCalifórnia and over 7,000 certi
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catesrepresenting life insurance and annuitycontracts, the SPRSI will add over $10million in assets and over $2 million insurplus subsequent to a merger.
T
HE
C
OMBINED
S
OCIETY
Our societies were founded for the mu-tual bene
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t of our policyholders andmembers. With this alliance, both or-ganizations and their memberships ben-e
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t. Some of the advantages include: (1)signi
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cant decreases in the cost of oper-ations; (2) combined
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nancial resourcesfor greater leverage in the productionof investment income; (3) anticipatednew alliances of people and councils;(4) shared fraternal events; and, (5) alarger pool of experienced and quali
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edpersons to meet the personnel needs of ONE corporate organization.We, including many from other organi-zations, have long recognized that our organizations’ success and growth in-clude future alliances of like companies.Signi
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cant
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nancial strength and serviceto substantial numbers of policyholdersare, and will continue to be, necessaryquali
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cations for competing in this fast-paced and regulated business of insur-ance.
A Message from our Executive Vice-President/Chief Executive Officer
Manuel A. Minhoto
Manuel A. Minhoto
Executive Vice-President/ Chief Executive Officer
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