CFL Annual 2020
A MESSAGE FROM OUR PRESIDENT AND CEO Emerging from the greatest global health crisis in our lifetimes, we’ve gained a greater appreciation of good health, closeness of family and connecting with friends. Most importantly, we know our abiding faith in God sustains us. Our different by design mission of serving God through serving others, providing financial security, and enhancing quality of life was challenged. But as people of faith and inspired by our values, we responded and launched the Love One Another and Catholic Comeback campaigns, raising over $200,000 for first responders and parishes. The Catholic Financial Life team demonstrated resilience working remotely for over fifteen months – prioritizing the health and safety of our associates and advisors while continuing to provide exceptional service to our members. And our tradition of fiscal conservatism served us well as we realized Net Income of $13.9 million, adding $5 million to Surplus and maintaining our A- financial strength rating. The Board of Directors also fulfilled one of its most important responsibilities – completing an extensive succession process culminating in selecting John as our next President. And our delegates overwhelmingly approved amending the Articles of Incorporation and providing for the direct election of the Board by all adult financial members. Thus, 2021 begins new traditions of leadership and governance. Moving forward … guided by our faith, inspired by our values, and building new traditions … we are confident that our unique purpose is relevant and will drive future success. Together, with God’s help, we will do mighty things! Fraternally,
President, John Borgen, and CEO, Bill O’Toole
FAITH, VALUES AND NEW TRADITIONS “THE PEOPLE WHOWALKED IN
DARKNESS HAVE SEEN A GREAT LIGHT; UPON THOSE WHO LIVED IN A LAND OF GLOOM A LIGHT HAS SHONE.” ISAIAH 9:1 Creator of light, Prince of peace and Spirit of hope, We rejoice in the gift of Emmanuel, God with us. We marvel at the majesty of your creation. We give you thanks for the blessings bestowed on Catholic Financial Life. As doers of the word, we strive to be instruments of Your will. Help us to be light where there is darkness, channels of peace in places of division and leaders who bring hope to all in need. May the gift of our faith and the values we cherish guide us and inspire us as we build new traditions. Amen!
William R. O’Toole
John T. Borgen
CEO President PS Please read how to vote for the Board on page 10 and the new Articles and Bylaws on pages 14-23.
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