LOMA Society Officers’ Manual 2014 Edition Edited by
LOMA Society Officers’ Manual 2014 Edition Edited by Barbara Francis Atlanta, Georgia Established in 1924, with over 1,200 member companies in over 80 countries, LOMA is committed to a business partnership with its member in the insurance and financial services industry. LOMA’s mission is to help companies in the financial services industry improve their management and operations through quality education, research, information sharing, and related products and services. With courses available in seven languages, professionals around the world have advanced their careers with knowledge gleaned from LOMA’s education programs. LOMA’s Fellow, Life Management Institute (FLMI) education program is a globally recognized standard for employee development. In 2003, LOMA launched the Fellow, Financial Services Institute (FFSI) education program for financial services professionals. The FFSI recognizes professional achievements for continuing education, certifications, or licenses and allows students to customize the designation to fit a specific product that is sold, serviced, or administered by the student. © Copyright 2014 LOMA All Rights Reserved. This text, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without the prior written permission of the publisher. ® FLMI and FFSI™ are registered service marks of LOMA, and use for purposes not authorized by LOMA is prohibited. Contact Information The LOMA Society Support Team 6190 Powers Ferry Road Suite 600 Atlanta, GA 30339 Tel: 1-800-ASK-LOMA, x741/ 770-951-1770, x741 Fax: 770-984-6415 E-mail: [email protected] LOMA Society Officer’s Manual -1- Hello LOMA Society Officers! The LOMA Society Officers’ Manual provides practical guidance for Society management and operations. LOMA understands that not all Societies operate in the same manner. The suggestions and guidelines contained in this Manual are not a mandate for your Society operations, but reflect actual Society practices that have proven successful over the years. We encourage you to thoroughly review this Manual in preparation for your duties as a Society officer. The answers to many of your questions are contained right here. We also encourage you to contact LOMA by calling 1-800-ASK-LOMA (x741) or 770-9511770 (x741), or sending an e-mail to [email protected] any time you need assistance or guidance. Best wishes to you as you lead your LOMA Society to success! Sincerely, The LOMA Society Support Team LOMA Society Officer’s Manual -2- Contents The Purpose of LOMA Societies ..................................................................................... 4 Minimumum Performance Standards for LOMA Societies ............................................... 6 Officers Roles Within Their Societies .............................................................................. 7 Elections ......................................................................................................................... 9 Committees Within the Society ...................................................................................... 11 LOMA Society Committee ............................................................................................. 14 Planning ........................................................................................................................ 15 Banking ......................................................................................................................... 18 Budgeting ...................................................................................................................... 19 Taxation and Liabilities .................................................................................................. 20 Membership .................................................................................................................. 21 Meetings ....................................................................................................................... 21 Programs Honoring New Designees ............................................................................. 23 Communications and Public Relations .......................................................................... 25 Distinguished Service Award Programs......................................................................... 31 Scholarship Programs for College and University Students ........................................... 32 Cross-Credit Opportunities ............................................................................................ 33 LOMA Course Classes and Study Groups .................................................................... 36 Examination Site Monitoring .......................................................................................... 37 LOMA's Outstanding Society Awards ............................................................................ 38 Resources Provided by LOMA ...................................................................................... 38 Services Provided by LOMA.......................................................................................... 40 Reports Due to LOMA ................................................................................................... 41 Sample Forms and Reports From Societies .................................................................. 53 Model Constitution and Bylaws ..................................................................................... 61 News Release Samples ................................................................................................ 67 LOMA Society Officer’s Manual -3- The Purpose of LOMA Societies A LOMA Society is an organization of professionals who have earned the Fellow, Life Management Institute (FLMI); the Fellow, Financial Services Institute (FFSI); or other LOMA designations. Each Society is chartered by LOMA, and only organizations chartered by LOMA may use “LOMA” in their name. The purpose of LOMA Societies is to provide Society members, LOMA students, and other insurance and financial services professionals with opportunities for continuing education and professional growth. In addition, LOMA Societies work to increase the recognition of LOMA designations. Societies and their Relationship with LOMA The first LOMA Society was founded in New York in 1943—about ten years after the first FLMI examination was given in 1932—as a result of efforts of FLMIs who felt that their professional lives would be enhanced through organized interaction with fellow designees. The following is a list of currently active LOMA Societies throughout the world: Active LOMA Societies as of January 2014 Society Location Year Est. Central Illinois Greater New York Hong-Kong Kentucky Montréal Nebraska Ohio Québec South Central Texas Trinidad & Tobago Twin Cities Utah Waco Waterloo Bloomington New York City Hong-Kong Louisville Montréal Omaha/Lincoln Cincinnati/Columbus Québec City San Antonio/Austin Trinidad & Tobago Minneapolis/St. Paul Salt Lake City Waco Waterloo 2004 1943 1978 1992 1977 1983 1980 1981 1984 1988 1975 1981 1993 1961 Each Society is governed by elected officers according to the powers set forth in the Society’s constitution, which is approved by LOMA. Although LOMA Societies share common goals and objectives, each Society operates independently and functions according to the needs of its members. Regardless of differences, all Societies are expected to operate within the guidelines established by LOMA. LOMA Society Officer’s Manual -4- Society Constitution and Bylaws Every Society should have a constitution and bylaws on file at LOMA (see page 61). Changes to bylaws should be conducted as follows: Any proposal to alter, amend, adopt, or repeal a bylaw must receive the approval of two-thirds of the board of directors. Upon approval by the board of directors, a copy of the proposal must be submitted to LOMA. Within 30 days LOMA must acknowledge receipt of the proposal and state in writing whether the proposal is approved, not approved, or deferred for decision pending further review. Upon approval of the proposal by LOMA, the Society secretary must distribute a copy of the proposal to the membership, accompanied by notice of the date, place, and time of the meeting at which the vote for the proposal will be held. The notice must be mailed to each member at least 21 days in advance of the meeting. The proposed alteration, amendment, repeal, or adoption will go into effect only if the above conditions are satisfied and if the changes are approved by at least two-thirds of the membership. Pledge of Professional Ethics The LOMA Society committee has adopted the following guidelines of professional conduct for all Fellowship designees. Regardless of differences in operating procedures, each Society is encouraged to adopt these guidelines as a means of promoting ethical conduct among its membership. The Designee shall discharge all duties with honesty, integrity, objectivity, fairness, and professionalism. The Designee shall deal with others in a manner in which he or she would want to be dealt with by others. The Designee shall place the public interest above his or her own interest. The Designee shall continually strive to master all aspects of his or her business and to improve his or her professional knowledge and skills. The Designee shall diligently strive to ascertain clients’ best interests and seek to ensure that these interests are met. The Designee shall respect clients’ privacy and the confidentiality of information they provide, within the constraints of the law. The Designee shall comply with the spirit and letter of the law in all his or her activities. The Designee shall hold his or her professional designation proudly and seek to enhance the reputation of the designation, as well as the financial services industry, in every way. LOMA Society Officer’s Manual -5- Minimum Performance Standards for LOMA Societies In 1987, LOMA and the LOMA Society committee established minimum standards of performance that must be met by all LOMA Societies. Societies’ performance is expected to substantially exceed these standards. Each year, in compliance with the minimum standards of performance, Societies are required to: Submit the New President’s Organizational Report (NPOR) to LOMA by November 30 (see page 41) Submit the New President’s Planned Activity Report (NPPAR) by November 30 (see page 47) Hold at least one formal membership meeting Formally recognize new Fellows, Associates, and other LOMA designees In the event that a Society does not comply with the minimum standards, LOMA will determine if there is a problem through communication with the Society’s President. If a problem is identified, LOMA will provide a complete report to the President. The chairperson will appoint a subcommittee (preferably composed of members within the same geographic area) to investigate the situation. The subcommittee should monitor the Society’s performance over a given period of time to determine if there is improvement. A visit to the Society may be necessary. The subcommittee should report its findings at the next LOMA Society Committee meeting. The LOMA Society Committee should discuss the subcommittee’s findings and recommend action including: Monitoring the Society for improvement Declaring the Society inactive until designees in the area approach LOMA with plans to reorganize the Society Revoking the Society charter (In 1989, the LOMA Society Committee determined that “No Society charter will be revoked except for specific cause and only after due process. Inactivity is not considered due cause.”) Suggestions for Officers and Chairpersons To ensure success, LOMA Societies need leaders who are organized, enthusiastic, and committed. Although skills utilized in the business world will greatly help officers, remember that Societies are volunteer organizations whose leaders must demonstrate strong motivational and persuasive skills. LOMA strongly suggests that all officers: Thoroughly review the LOMA Society Officers’ Manual Talk to his or her predecessor about their experiences in office Plan and organize objectives for the year (see “Planning,” page 15) Learn to delegate responsibility Utilize the resources available to you Be creative, don’t be afraid to try something new just because it has never been done before Communicate effectively, make sure that all plans and expectations are understood by everyone involved Double-check, reconfirm, and ask questions Be organized LOMA Society Officer’s Manual -6- Enjoy yourself, enthusiasm is contagious and your optimistic, upbeat attitude will transfer directly to the membership Successful Societies have a large number of people involved in the organization. All Society members should become involved in Society functions. The best way to encourage member participation is to approach people individually and ask them if they would be willing to perform specific tasks. Asking people individually fosters a sense of belonging and importance and encourages future involvement in Society activities. Officers Roles Within Their Society LOMA Society Board of Directors The board of directors of a LOMA Society consists of the president, vice president, secretary, treasurer, LOMA Society Committee representative, immediate past president, and other members as specified in the bylaws of each Society. Society boards of directors should hold regular meetings and should keep the minutes of each meeting. Minutes of the meetings should be e-mailed to [email protected]. At times it may be appropriate to modify the minutes into an article for “LOMA Society News.” The following are suggested objectives and goals for board meetings: Establish Society objectives (see “Planning,” page 15) Plan Society activities (see “Planning,” page 15) Establish Society policies (Policies should be consistent with Society bylaws and should be maintained in written records.) Facilitate cooperation among committees Facilitate communication among everyone involved in Society activities LOMA Society President The responsibilities of the Society president include: Serving as the Society’s chief executive, exercising general administrative responsibilities and control over activities of the Society Presiding over all Society meetings Ensuring the timely submission of all Society reports to LOMA Acting as chairperson of the board of directors Performing other duties as usually pertain to the office of president LOMA Society Officer’s Manual -7- LOMA Society Vice-President The responsibilities of the Society vice-president include: Substitute for the president when needed Ensure the membership is informed of Society meetings and events as specified by the bylaws (see “Meetings” page 21) Ensure all arrangements are finalized prior to meetings (e.g. meeting room confirmed, A/V requirements addressed, vendors paid, etc.) Write letters of appreciation to speakers on behalf of the Society Monitor the quality of programs and meetings through surveys and evaluation forms Present an annual report summarizing the meetings and events to the membership at the end of the year LOMA Society Treasurer The responsibilities of the Society treasurer include: Managing all Society finances (budget, bank account(s), financial records, tax records, financial reports, etc.) Submitting a preliminary budget for the upcoming Society year to the board of directors Assisting the Audit Committee (see page 12) with the annual audit of Society financial records Managing the billing and collection of Society dues Ensuring the prompt payment of Society bills Staying informed of government tax codes and filing procedures, and file tax returns when required (see “Taxation and Liabilities,” page 20) Informing the board of directors and membership of financial activity throughout the year and presenting a report summarizing financial activity for the preceding year to the membership LOMA Society Secretary The responsibilities of the Society secretary include: Managing Society records including taking minutes at all meetings of the Society and of the board of directors and distributing the minutes to the Society membership and LOMA Assisting the treasurer with membership records, mailing lists, etc. Assisting the president with completing reports Composing and mailing congratulatory letters under the president’s signature to new designees, new members, and more Ordering and distributing Society stationary Keeping the membership roster current and up-to-date and making sure all changes are sent to LOMA in a timely manner Ensuring LOMA and the membership are kept abreast of all communications Managing public relations duties Ensuring that written notice of all Society meetings is sent to the membership at least ten days in advance of each meeting LOMA Society Officer’s Manual -8- LOMA Society Committee Representative A LOMA Society Committee representative is elected by his/her Society to represent their Society on the LOMA Society Committee. The committee representative’s responsibilities include: Attending all meetings of the LOMA Society Committee Serving on sub-committees and review panels Ensuring that the membership of the representative’s Society is informed of all Society committee activities Serving as liaison between LOMA and the other officers of the representative’s Society Fulfilling all duties as assigned by his/her individual Society including submitting the “Annual Report” (see page 50), available at www.loma.org/SocietyResources.htm, summarizing all Society activities for the preceding year Responding to LOMA’s requests for input on matters that the committee is addressing LOMA Society Immediate Past President The responsibilities of the immediate past president include: Assisting the president and the president-elect with any arrangements necessary following the annual election to ensure a smooth and effective transition in managing all functions, activities, duties, and responsibilities Serving on the board of directors in an advisory capacity The immediate past president may be given other responsibilities as well, but keep in mind that involvement of new members is what ensures a Society’s future success. LOMA Society Directors Society directors are elected board members who either (1) do not hold specific Society offices or (2) serve as chairpersons of Society committees. The responsibilities of Society directors include: Representing the membership in formulating Society policies Familiarizing themselves with Society policies and activities, and being wellacquainted with the membership Serving as chairperson of one or more committees when needed Elections The Society Nominating Committee (see page 11) should be appointed no later than August 1 and should begin seeking recommendations for nominees at least 42 days prior to elections. The Nominating Committee is responsible for confirming the qualifications of all potential officers. Nominees for office should be members in good standing with the Society and should be capable and willing to serve in the office for which they have been nominated. Associate members and nonmembers may not hold offices nor may they serve as members of the board of directors. LOMA Society Officer’s Manual -9- At least 10 days prior to elections, the membership should be notified of the register of nominees. It is recommended that nominations be announced either in the Society newsletter or in the meeting announcement that is sent out prior to the meeting. The Nominating Committee may consider including a brief description of the nominees’ qualifications. The following is a list of important reminders and requirements for elections: Elections should take place at the Society’s fall meeting. The Society president presides over the election. Prior to voting, additional nominations may be taken from the floor (An oral or written statement from the nominee indicating that they have met the qualifications and are willing to serve must be obtained.). All Society members in attendance shall have one vote. In the election for each office, the nominee receiving the majority of all votes cast shall be declared the winner. Newly elected officers and directors shall assume office at the beginning of the Society/fiscal year following the election. Installation of New Officers The installation of new Society officers should occur at the last formal meeting before the beginning of the new Society/Calendar year. The installation of new officers should be conducted as follows by the outgoing president. First, introduce the newly elected officers and ask them to come forward or to stand at their seats. Secondly, state the following, Before installing you in office, I would like to review the Pledge of Professional Ethics for LOMA Fellowship Designees: In all my professional activities I shall: discharge all duties with honesty, integrity, objectivity, fairness, and professionalism deal with others in a manner in which I would want them to deal with me place the public interest above my own continually strive to master all aspects of my business and to improve my professional knowledge and skills diligently strive to ascertain clients’ best interests and seek to ensure that these interests are met respect clients’ privacy and the confidentiality of information they provide, within the constraints of the law comply with the spirit and letter of the law I shall hold my professional designation proudly and seek to enhance the reputation of my designation and the financial services industry in every way. Do you agree to abide by this Code? If so, answer “I will.” Finally, after receiving their affirmative response announce LOMA Society Officer’s Manual - 10 - It is my pleasure to formally install you in office. Congratulations and best wishes in your leadership efforts. Committees Within The Society The LOMA Society bylaws require that Societies have the following standing committees: Nominating Committee Education Committee Audit Committee Program Committee Communications Committee Membership Committee Technology Committee The Society president may appoint other committees as deemed necessary by the board of directors. LOMA Societies establish committees to: Assist the board of directors in Society operations Provide members an opportunity to participate in Society operations Train future Society leaders Recommendations for amendments to the operating policy may be made at any meeting of the committee provided that notice of such a recommendation is mailed to LOMA staff at least 60 days in advance of the meeting. Any changes to the operating policy are subject to the approval of LOMA. Nominating Committee The Nominating Committee must be appointed by the Society president with the approval of the board of directors no later than August 1 in order to allow time to collect nominations for officers for the upcoming Society year. There should be at least three Nominating Committee members and one person serves as chairperson. Company representation requirements for the Nominating Committee are outlined in individual Society bylaws. The responsibilities of the Nominating Committee include: Monitoring the dedication and competence of officers as they proceed through the typical succession of offices (e.g. secretary, treasurer, vice-president, and finally president) Soliciting nominations at least 42 days prior to elections Evaluating the eligibility of individuals nominated for office Announcing nominations to the membership via mail at least 21 days prior to elections Recommending individuals to fill vacancies on the board of directors Making recommendations for committee appointments as requested by the Society board of directors (see “Elections,” page 9) LOMA Society Officer’s Manual - 11 - Education Committee The Education Committee coordinates all Society educational activities. The responsibilities of the Education Committee include: Developing and administering programs such as classes, mentoring programs, and credit-seeking programs to help others earn designations Working with company Ed Reps to promote the LOMA Programs and Society activities. Audit Committee The Audit Committee provides an independent audit of Society financial records, which ensures internal control. Audits can also prove valuable in the event of an audit by the Internal Revenue Service, Revenue Canada, or similar agency. The Audit Committee should consist of one or more Society members, preferably at least one who is a CPA/CA. The responsibilities of the Audit Committee include: Auditing the Society's financial records at the end of the Society/Calendar year Submitting an audit report to the Society president, who will present the results to the board of directors Reporting the audit results to Society membership. Program Committee The Program Committee coordinates Society meetings and programs. The responsibilities of the Program Committee are to assist the vice president in planning, developing, implementing, and evaluating Society meetings and programs. Communications Committee The Communications Committee coordinates all Society communications and publicity as well as promotion of Society activities and serves as a liaison between the Society, other Societies, and LOMA. The responsibilities of the Communications Committee include: Ensuring that the membership is notified of all Society activities Producing and distributing the Society membership directory in cooperation with the Membership Committee Designing, editing, and distributing Society newsletters and promotional materials Maintaining the Society mailing list Managing a file of Society permanent records (see “Communication with the Membership,” page 28) Membership Committee The Membership Committee manages Society membership efforts and plans and organizes the recognition of new designees. The responsibilities of the Membership Committee include: Managing the Society’s annual membership drive, contacting both inactive Society members, new designees, and current members who need to renew their membership Planning and organizing the Society’s recognition of new designees LOMA Society Officer’s Manual - 12 - Managing all aspects of associate membership for the Society Coordinating the billing and collection of Society membership dues and/or meeting fees, and ensure that the appropriate records are kept Developing, producing, and distributing the Society’s annual membership survey (see page 55) Producing and distributing the Society membership directory in cooperation with the Communications Committee Technology Committee The Technology Committee is responsible for coordinating, reviewing, and recommending all technological aspects of the operations of the Society. This includes but is not limited to databases, Web site, and technical equipment. Criteria for Creating New Committees If an activity requires extensive organization and participation, the formation of a new committee is warranted. The board of directors will make the final decision on the establishment of a new committee. After a committee has served its purpose, it should be disbanded. Committee Members Committee members may be appointed by the Society board of directors or selected by the committee chairperson. Society members may serve on more than one committee, but Societies are encouraged to keep involvement by members on more than one committee to a minimum to facilitate a broad range of members’ involvement in Society activities. It is the responsibility of committee members to carry out all duties delegated to them by the committee chairperson. Committee Chairpersons Committee chairpersons must be a member of the Society and may be elected by the committee they chair or the Society membership, or appointed by the Society president. The responsibilities of committee chairpersons include: Convening and conducting committee meetings Delegating responsibility for committee activities Filing a written report with the board of directors for presentation to the membership at the annual meeting of the Society. LOMA Society Officer’s Manual - 13 - LOMA Society Committee The LOMA Society Committee is composed of (1) a chairperson appointed by LOMA for a two-year term, (2) a vice chairperson who will be next to serve as chairperson, (3) an immediate past chairperson, and (4) an elected representative from each LOMA Society. The LOMA Society Support Team members are nonvoting members of the LOMA Society Committee. All criteria for committee organizational structure are subject to change at LOMA’s discretion. Each LOMA Society appoints a representative to serve on the LOMA Society Committee, a LOMA committee founded to assist in Society establishment and operations. The following are responsibilities and activities of the LOMA Society committee: The LOMA Society Committee meets during LOMA’s Annual Conference and Conferment. When the committee chairperson is unable to serve, a designee assigned by LOMA shall act as chairperson. Societies may designate substitutes to attend committee meetings if the committee representative is unable to attend. In matters that require a vote, a quorum shall consist of the number of votes equaling more than half of the Societies represented at the meeting. In the event of a tie, a delegate of the LOMA Society Support Team will give the deciding vote, or the issue will be tabled and a final decision made at a later time. The committee may vote to establish subcommittees and/or task forces to examine particular issues. An agenda for each committee meeting shall be sent to the committee members at least 30 days in advance of the meeting. Invitations to participate in or observe committee meetings may be extended by LOMA to individuals who are not members of the LOMA Society Committee. Candidates for LOMA Society Committee chairperson will be selected by LOMA and be asked to serve as vice chairperson for the year prior to assuming the role as chairperson. After serving as chairperson for two years, the chairperson is asked to serve for one year as immediate past chairperson. Current and past LOMA Society Committee representatives and LOMA Society officers who are LOMA member company employees are qualified to serve as committee chairs. The term of office for the chairperson, vice chairperson, and immediate past chairperson is assumed each year at LOMA’s Annual Conference and Conferment. The vice chairperson-elect will be contacted by LOMA in the fall prior to the upcoming term and will be asked to serve for one year as vice chairperson, for two years as chairperson, and for one year as immediate past chairperson. LOMA Society Officer’s Manual - 14 - Chairperson’s Duties Judging the Outstanding Society Awards (OSAs) Meeting with LOMA staff, the immediate past chairperson, and the vice chairperson to plan the LOMA Society Committee meeting Presiding over the LOMA Society Committee meeting Assisting with the Officers’ Training Workshop (OTW) Assisting in selecting the new vice chairperson Assuming the role of immediate past chairperson at the end of the term as chairperson Vice Chairperson’s Duties Meeting with LOMA staff, the immediate past chairperson, and chairperson to plan the LOMA Society Committee meeting Attending the LOMA Society Committee meeting and keep minutes of the proceedings Preparing to assume the role of chairperson at the end of the term as vice chairperson Immediate Past Chairperson’s Duties Meeting with LOMA staff, the chairperson, and the vice chairperson to plan the LOMA Society Committee meeting Serving as an advisor to his/her successor as chairperson Attending the LOMA Society Committee meeting, when possible Role of LOMA Staff An appointed member of the LOMA Society Support Team serves as the operating officer for all LOMA Society Committee functions. In terms of LOMA Society Committee operations, the appointed member’s responsibilities include: Planning and directing the annual LOMA Society Committee meeting Working with the committee chairperson, vice chairperson, and immediate past chairperson to set the agenda for the LOMA Society Committee meeting Keeping the committee updated on accomplishments in the past year and goals for the upcoming year Keeping the committee informed of LOMA activities Planning Good planning differentiates a successful Society from a truly outstanding Society. Societies should plan for the upcoming year at the joint meeting of old and new boards of directors held following elections. The following items should be completed at the joint planning meeting: Determine objectives for the upcoming year Be familiar with the past successes of the Society and analyze the bases for success Be aware of the needs and interests of the membership before setting objectives (The best way to accomplish this is through surveying the membership. Please refer LOMA Society Officer’s Manual - 15 - to the sample survey from the LOMA Society of Nebraska on page 53. Also, you can use the Outstanding Society Awards Criteria as a guideline.) Ensure that the Society’s needs and interests are compatible with the purpose of LOMA Societies (see “LOMA Society of South Central Texas 2004 Goals and Objectives” on page 57) Plan activities for the upcoming year including meetings, seminars, etc. that are compatible with the established Society objectives and that will appeal to a majority of the membership (See the model-planning calendar that follows.) Set dates for the programs and publicize this information throughout the year as far in advance as possible to allow for publicity Complete the NPPAR (see page 47) for submission at the conclusion of the meeting and submit it via e-mail, if possible, to [email protected] Ensure that all committees are involved in the planning process, and that they are fully aware of their responsibilities in implementing plans Appoint committee chairpersons as needed Establish the budget for the year The following is a suggested model-planning calendar for Society activities: January New board of directors takes office Audit of prior year’s financial records completed by treasurer Treasurer notifies bank of signature changes on accounts Begin promoting spring LOMA classes Finalize calendar of Society activities for the year Begin OSA submissions LOMA Society Committee representatives complete their Society’s Annual Report and submit it to [email protected] February LOMA Society Officers’ Directory available online at www.loma.org/SocietyResources.asp March Distribute spring edition of Society newsletter April April 30—OSA submissions due Society education chairpersons request exam monitoring information Education chairperson/committee solicits volunteers and organizes exam monitoring activities Current local designee lists sent from LOMA Society Support Team LOMA Society Officer’s Manual - 16 - May Administration of LOMA’s spring examinations—monitor examination sites and report observations to LOMA Send updated NPORs and NPPARs to [email protected] June OSA winners announced Finalize plans for fall meeting Finalize plans for fall LOMA course classes Annual Conference information sent to Society officers Agenda items for LOMA Society Committee meeting solicited from committee members Distribute summer edition of Society newsletter July Members attending Officers’ Training Workshop & LOMA Society Committee representatives register for LOMA’s Annual Conference Begin promoting fall LOMA classes August Nominating Committee begins organizing fall elections, recruits nominees for office Current class of local designee lists sent from LOMA Society Support Team September Agenda Request new designee list from LOMA Order Society membership certificates Mail letters of congratulations to new designees inviting them to the fall meeting Distribute fall edition of Society newsletter October Hold fall meeting: Election/installation of officers and recognition of new designees LOMA’s Annual Conference and Conferment Education chairperson/committee solicits volunteers and organizes exam monitoring activities Society education chairpersons request exam monitoring information LOMA Society Committee meeting minutes posted to LOMA’s Web site (www.loma.org) LOMA Society Officer’s Manual - 17 - November Administration of LOMA’s fall examinations—monitor examination sites and report observations to LOMA Joint meeting of the old and new boards of directors to plan objectives and activities for the upcoming year Send letters to board members’ company presidents expressing the Society’s appreciation for their services November 30—NPOR due December Finalize plans for spring meeting Finalize plans for spring LOMA classes Committee chairpersons submit reports to Society president Begin preparing OSA submissions (Criteria available on LOMA’s Web site at http://www.loma.org/Membership/Societies/Resources.aspx.) Distribute winter edition of Society newsletter Banking Whether or not a Society collects dues, all Societies should have a bank account. The Society treasurer is responsible for maintaining the bank account. The following are some suggestions for managing the Society’s bank account. The names of the treasurer and two other board members should appear on account signature cards. Signature cards should be updated annually to reflect the names of the current treasurer and board members. LOMA recommends that two signatures be required to make withdrawals. The address on the account should be changed annually to reflect the current treasurer’s address. U.S. Societies: The Society’s employer identification number is a nine-digit number assigned by the IRS. To obtain their employer identification number, a Society must complete IRS form SS-4 and Form 8871, Political Organization Notice of Section 527 Status. This form should be submitted to the IRS at the same time that Form 1024 is submitted to qualify the Society for tax-exempt status. For complete details, visit www.irs.gov. Even though Societies do not have employees, employer identification numbers are required to open bank accounts or to make other financial transactions. The treasurer’s social security number should not be used on the society bank account. There may be a need or desire to establish more than one bank account. For example, a Society may want to establish an account for general income and expenses as well as a separate account for income and expenses related to LOMA course classes. Each month, the treasurer should reconcile the Society ledger against the bank account statements. LOMA Society Officer’s Manual - 18 - Budgeting Prior to the beginning of a new Society/fiscal year, the treasurer must submit to the board of directors a preliminary budget for the upcoming Society/fiscal year. The board is responsible for approving the budget before the first membership meeting of each new fiscal year. The approved budget is the plan that should be followed by the treasurer throughout the coming Society/fiscal year. It is a good idea to establish a contingency fund in the budget to cover unexpected expenses that may arise. All officers and committee chairpersons should receive a copy of the budget and should be aware of the financial resources available to them. The annual Society budget should also be presented to the membership as soon as possible each new fiscal year. A sample budget from the LOMA Society of the Twin Cities at the end of this text may be a helpful reference (see page 60). Suggestions for Managing Society Finances LOMA recommends that Societies use cash-basis accounting for managing their financial transactions wherein revenues are recognized when cash is received, and expenses are recognized when cash is paid out. A simple cash-basis plan that may be used is the establishment of revenue and expense categories coinciding with specific budget categories. (For example, revenue categories may consist of dues, meeting fees, company contributions, class tuition, etc. Expense categories may consist of supplies, newsletter expenses, meeting expenses, educational expenses, public relations expenses, etc.) Each Society should establish an accounting system that meets its particular needs (see sample from the LOMA Society of Fort Wayne on page 61). In addition to making the “Annual Report” to the Society, the treasurer should make financial reports to the board of directors throughout the year. These interim reports should summarize revenues and expenses as compared to the budget. The following are additional suggestions for managing Society finances: The outgoing treasurer should review the books with the incoming treasurer before leaving office and turning the books over to the incoming treasurer. When the books are passed from one treasurer to another be sure that the closing entries have been posted to the appropriate income and expense accounts. All financial records and transactions should be recorded in ink. All receipts, account statements, and copies of all other financial records should be saved, passed on to the incoming treasurer, and stored in a secure location. LOMA Society Officer’s Manual - 19 - Taxation and Liabilities U.S. Societies LOMA Societies should qualify as tax-exempt entities under Section 510(c)(6) or Section 510(c)(7) of the Internal Revenue Code. To qualify for tax exempt status, a Society must file IRS Form 1024. For complete details and instructions for all forms, filings, and more, visit www.irs.gov. Societies that have gross revenues in excess of $25,000 in a given year must file IRS Form 990. The form must be filed by the fifteenth day of the fifth month following the Society’s year-end. Failure to file on time may result in a penalty of $10 per day, not to exceed the lesser of $5,000 or 5% of the Society’s gross revenues for the year. If the form cannot be completed by the due date, an extension may be requested by submitting to the IRS Form 2758. The extension request must be filed by the due date of Form 990. LOMA recommends that Societies file IRS Form 990 every year whether or not they have gross revenues in excess of $25,000. Filing Form 990 may prevent Societies from being unnecessarily audited. Form 990 is available at local IRS offices. State Taxation U.S. Societies must determine whether they need to file tax documents with their state. Many states require both incorporated and unincorporated membership organizations to file annual returns. This information may be obtained from the state department of revenue, a local tax attorney, or a CPA. Canadian Societies As defined in paragraph 149(1)(1) of the Income Tax Act of Canada, LOMA Societies qualify as non-profit organizations. Subsection 149(12) of the Income Tax Act of Canada requires form T1004 to be filed when any of the following three criteria are met: Dividend, interest, rent, or royalty income in excess of $10,000 in any year Total assets (determined under GAAP) exceeding $200,000 The Society was required to file in any prior year Form T1004 and a guide for completing the form may be obtained from Revenue Canada. Incorporation U.S. Societies that are very large or that perform a large number of community service activities may want to consider incorporation as a means of limiting liability. Societies considering incorporation should consult an attorney in their state and should notify the LOMA Society Support Team of their intentions. Canadian Societies interested in incorporation should contact Consumer & Corporate Affairs Canada. LOMA Society Officer’s Manual - 20 - Membership Society membership eligibility requirements are outlined in each Society’s bylaws. Completion of a LOMA designation is required for Society membership. Many Societies offer associate membership to active LOMA students, LOMA Ed Reps, and/or LOMA Principle Reps. The LOMA Society Committee recommends student membership as a means of encouraging students to complete LOMA designations and increasing Society participation. Membership Dues LOMA does not collect dues from designee holders or LOMA Societies. The decision whether or not to collect dues, the amount to collect, and the method of collection is determined by each Society. Dues generally range in amount from $3 to $50, with most Societies charging $10 to $20. In many cases, companies pay Society membership dues for their employees. Funds obtained through dues collection should be used to defray Society expenses. Meetings Organization is the crucial factor in Society meeting success and a well-run program will enhance the reputation of the Society. Meeting organization can be broken down into three areas: planning and preparation, managing the meeting as it transpires, and completing post-meeting responsibilities. Planning and Preparation The following will help you properly prepare for a successful meeting. Establish an objective for the meeting Prepare an agenda for the meeting as far in advance as possible (include date, time, topic, speaker, location, cost, etc.) The vice-president should delegate responsibility for making meeting arrangements Finalize the agenda Announce the function and send invitations to special guests Delegate responsibilities for the meeting itself Confirm that all arrangements have been made as planned, i.e., location, food, etc. Managing the Meeting The following tips will help you properly manage your meeting: The meeting should commence according to schedule The president should lead the meeting and should follow the agenda Meetings should be conducted according to parliamentary procedure as outlined in Robert’s Rules of Order Minutes of the meeting need to be recorded and photographs should be taken Attendees should complete meeting evaluation forms and leave them in the appropriate location (See the Atlanta LOMA Society’s meeting evaluation form on page 62.) LOMA Society Officer’s Manual - 21 - Post-Meeting Responsibilities Make sure that all Society materials are removed from the facility Sign bills, collect receipts, and deposit any proceeds from the meeting Send a note of appreciation to the speaker, any special guests, and companies that provided services or goods for the meeting Compile the responses from the evaluation forms and report this information to the membership via the meeting minutes or Society newsletter Finalize and distribute the minutes Submit summary of meeting to LOMA Society Support Team via e-mail, [email protected], for possible coverage in Resource magazine Speakers Finding a speaker for an event may be the biggest challenge Program Committee members face. One suggestion is to look within the membership. There may be Society members who have special skills, talents, or expertise that may be of interest to other Society members, or there may be members who know someone who would make an interesting presentation. Other sources for finding speakers include: LOMA Local college and university professors Leaders from large companies such as IBM, Delta Air Lines, etc. Chambers of Commerce Leaders of LOMA member companies Members of industry organizations such as the Society of Financial Services Professionals Convention and Visitors Bureaus Banks and other financial intermediaries Not-for-profit organizations and charities such as the Red Cross and the American Cancer Society Topics of current interest to the industry are always appropriate for Society meetings. However, Societies should vary the types of programs offered to ensure the meetings are enjoyable and beneficial to members. Treatment of Speakers Before contacting a potential speaker, as much information as possible about the meeting should be confirmed, including the date, time, location, preferred topic, length of presentation, compensation, etc. A potential speaker should be contacted via telephone well in advance of the meeting date. If a speaker is secured as a result of a telephone call, a confirmation letter with complete details of the meeting should be sent immediately following the telephone conversation. The following are additional suggestions for working with speakers: Reconfirm all arrangements with the speaker—A/V requirements, transportation, etc.—no less than one week in advance of the meeting. LOMA Society Officer’s Manual - 22 - If the speaker is from out of town, assist him or her with travel arrangements. Take advantage of any corporate rates local insurance companies may have negotiated with hotels, and make sure that the speaker is given adequate accommodations. Arrange transportation to/from the meeting site and to/from the airport. Ask the speaker for a biography and photograph for your advance publicity and so that he or she can be properly introduced at the meeting. Prior to the meeting, send the speaker copies of the meeting program and advance publicity. Meet the speaker upon his or her arrival and escort the speaker to the meeting. Show the speaker the meeting facilities prior to the meeting. Make sure that A/V equipment is set up to the speaker’s requirements and satisfaction. Provide water for the speaker. Assign a host to the speaker so that he or she is never left alone during the meeting. Seat the speaker at the head table, and introduce the speaker to the officers and to others at the head table. Introduce the speaker to the assembly as he or she has requested. Take photos of the speaker during his or her presentation and submit the photos and a press release to the local media and to LOMA. LOMA publishes photos and summaries of the presentations in the “LOMA Society News” section of Resource magazine. Handle reimbursement of expenses and compensation promptly. If a speaker is not to be compensated for his or her service, a small gift of appreciation is in order. ALWAYS send the speaker a thank you letter. Request an electronic copy of the speakers’ presentation for distribution to members and to post on your Society’s Web site. If the speaker’s presentation is featured or mentioned in the media, send him or her a copy of the article. Programs Honoring New Designees LOMA Societies are encouraged to recognize new designees in their areas. Recognition of new designees is an excellent opportunity for a Society to publicize its activities throughout the industry and community, and it is an important means of recruiting new Society members. Recognition activities may be held in conjunction with a regularly scheduled meeting or may be a separate event. Diplomas are sent to company Ed Reps, so they can present them to new designees. However, a Society may make arrangements with Ed Reps in their area to present the diplomas to the new designees during a Society recognition program. If a Society is not in the position to present diplomas, a small gift or certificate of membership may be presented to the new designees. The following are some suggestions for new designee recognition programs: The recognition program should be the highlight of the meeting during which it is held. LOMA Society Officer’s Manual - 23 - Family, friends, and associates of new designees as well as company executives should be invited to attend the program. Photographs should be given to the designees and sent along with press releases to the local media, the designees’ employers, and to LOMA. A well-known speaker will encourage attendance. However, the speaker should be made aware that his or her presentation is secondary in importance to honoring the new designees. The speaker’s message should be appropriate to the audience and to the occasion. A time limit for the presentation should also be agreed upon by the speaker and the chair of the Membership Committee as far in advance as possible. If there are a large number of new designees, or if post-meeting activity is scheduled, a feature presentation may be omitted. Leaders of the business and professional community should be invited. Encourage all Society members to attend. Select a good meeting location, and ensure a well-run program that will enhance the reputation of the Society. Guidelines For New Designee Recognition Ceremony The Society president should preside over the new designee recognition ceremony. If a LOMA staff member, board member, or Education Council member is present, they should also be included in the ceremony. Each new designee should be called forward individually and presented a small gift, a certificate of membership in the Society, or their diploma. This is the best time for photographs to be taken. Make sure that new designees being recognized are in attendance. Designees who are unable to attend may be recognized collectively after those present have been properly acknowledged. While the new Designees are being recognized individually, the president should provide a biographical introduction including the designee’s company name, position, and, time permitting, community involvement. The following speech may be used to officially welcome new designees into the Society. Before welcoming you into the Society, I want to remind you that high ethical standards are the foundation upon which public trust is built, that each of you has a professional obligation to demonstrate the highest ethical standards in your life and work, and that the trust of your customers can only be earned and maintained through ethical behavior. Individuals earning LOMA fellowship designations shall adhere to LOMA’s Code of Professional Ethics, which is incorporated into the following, pledge: In all my professional activities I shall: discharge all duties with honesty, integrity, objectivity, fairness, and professionalism deal with others in a manner in which I would want them to deal with me place the public interest above my own continually strive to master all aspects of my business and to improve my professional knowledge and skills LOMA Society Officer’s Manual - 24 - diligently strive to ascertain clients’ best interests and seek to ensure that these interests are met respect clients’ privacy and the confidentiality of information they provide, within the constraints of the law comply with the spirit and letter of the law I shall hold my professional designation proudly and seek to enhance the reputation of my designation and the financial services industry in every way. Will the members of the (year) class please rise? LOMA has certified that you have completed all the requirements for the designations of Fellow, Life Management Institute and/or Fellow, Financial Services Institute, and that you are in good standing. Therefore, it is an honor and a pleasure to welcome you into the LOMA Society of (Society name). To each of you, I give my sincerest and warmest congratulations. Communications And Public Relations Good public relations require time, effort, and commitment from Society officers. Two of the best public relations efforts are (1) establishing relationships with the media and (2) establishing visibility in the community. Establishing Relationships with the Media The Communications Committee should determine which media forms are best for publicizing Society activity. This may depend on the Society’s location. For instance, in large cities, suburban newspapers are most likely to be interested in Society news. Many small cities have weekly newspapers that will publish Society information. Also, newspapers may use Society events in a broader feature story about professional development. Newspapers Newspapers are generally the media form that is most willing to provide Society coverage. The following are suggestions for establishing relationships with newspapers: Make an appointment with the business editor to talk to him or her about the Society, its activities, and explain the Society would like to provide the paper with information about their events Inquire about the paper’s community calendar, and if it is appropriate, publish Society events in the calendar Ask for information on the best method for submitting information to the paper Ask for deadlines as well as copy and photograph specifications. Radio Many radio stations provide free airtime, usually referred to as public service announcements, for not-for-profit organizations. Call radio stations in the Society area and inquire about publicizing Society events via public service announcements. LOMA Society Officer’s Manual - 25 - Television When a Society is hosting a major event, local television stations should be invited. Be sure to extend the invitation well in advance of the event and provide extensive background information about both the Society and the event. As the event draws closer, extend the invitation again. Local broadcasts and community networks many times post a calendar of local events. You should also look into linking professional bulletin boards with your Society’s Web site to garner additional exposure. Developing Good News Stories One of the keys to a successful relationship with the media is developing good news stories for publication. Use the traditional structure on all news releases. The following diagram illustrates the traditional structure of a news release: The “lead” paragraph should answer WHO? WHAT? WHEN? WHY? HOW? (not necessarily in that order) Important Details Subsequent paragraphs in order of importance “Expendable” Information When space is at a premium, news paragraphs are eliminated from the bottom up. Use the proper writing style. The Associated Press Stylebook and Briefing on Media Law is the authority on news writing style. The following are some basic guidelines for news writing: Keep information short and simple Use familiar words and terminology Use short sentences (more than 20 words should be separated into two sentences) Use short paragraphs Write in the third person (i.e. he, she, they, etc.) Provide the name and address of meeting place and the time of the meeting— names make news, but using too many names detracts from the importance of individuals mentioned in an article Use middle initials with common names like Smith and Jones Use only the person’s last name upon second mention in a story Give exact dates (do not use tomorrow, next week, etc.) Write the word for numbers one through nine, and use numerals for numbers 10 or greater Never begin a sentence with a number Always indicate a.m. or p.m. when referring to time Abbreviate months used with dates with the exception of April, May, June, and July Do not include the year unless it is different from the present year. LOMA Society Officer’s Manual - 26 - Please refer to the sample news releases at the end of this text (see pages 69-71). Establishing Visibility in the Community The best way for Societies to establish visibility in the community is through community service projects and volunteer work. Participating in community service projects and volunteer work adds variety to Society activities, helps the community and less fortunate individuals, and provides the Society with recognition. These opportunities are great ways for Society members to hone their organizational and promotional skills for future leadership positions. The following are suggestions for community service projects: Participate in trash clean-up programs (The LOMA Society of South Central Texas has adopted a mile of highway and is responsible for keeping it clean.) Host a holiday party or haunted house for underprivileged children (Contact the local social services or volunteer services office for information on individuals that may wish to participate.) Sponsor a blood drive (Contact the Red Cross or your local blood bank for information on how to organize the event.) Answer telephones during a telethon (Contact your local Public Broadcasting channel or other sponsoring organization.) Serve meals at a local shelter or soup kitchen (Many Societies sponsor food drives for local coalitions that fight hunger.) Participate in charity walk-a-thons, dance-a-thons, road races, etc. (The LOMA Society of Greater New York participates in the annual AIDS Walk New York.) Societies who excel in their community service efforts may also receive recognition by winning an OSA (see page 39). Communication with the Membership Another factor a Society’s success depends on is effective communication with Society members. Communicating with Society members is the responsibility of the Society secretary and the Communications Committee. Society Membership Directory The Society secretary and Communications Committee should produce and make available to the membership a membership directory. The directory should include members’ and officers’ names, professional titles, business addresses, and business telephone numbers. Society Newsletters Most Societies use a Society newsletter as their primary vehicle for communicating with the membership. The following are suggestions for planning and organizing a Society newsletter: Establish a purpose or objective for the newsletter (Determine what you hope the newsletter will achieve in both the long term and the short term.) LOMA Society Officer’s Manual - 27 - Consider the newsletter’s audience (Are you writing to Society members, prospective members and new designees, Company executives, Ed Reps, etc.?) Organize your short-term objectives (announce upcoming events, meeting minutes, recruit volunteers, and inform members of current events that may affect them) Organize your long-term objectives (establish an image, establish support from area companies, foster sense of belonging among members) Establish an editorial formula to focus on certain topics in each newsletter, such as: Promotion of Society activities 30% Minutes/Society business 30% Articles of interest to members 25% Individual recognition 15% Establish “departments”/regular sections to encourage consistency in each issue Use themes (The theme of an issue may be based upon the presentation topic of an upcoming speaker.) Delegate responsibility for different sections of the newsletter (Assign newsletter responsibilities at the beginning of the year so volunteers may collect information on an ongoing basis.) Utilize information found in other publications including company newsletters, LOMA’s Resource magazine, etc. (Before reprinting an article, however, seek permission from the publisher.) Use the membership as a source for material (Poll four or five members for their opinion on a topic and print the responses along with a photo; or feature an interview of a Society member in each issue. Note that if you poll members, you could also feature this on your Web site and drive members to it for a later newsletter feature.) Meeting Notices Some Societies find that it is effective to communicate upcoming meeting information via a meeting notice in addition to the information contained in the Society newsletter. A meeting notice should be a brief, one-page summary of the upcoming meeting and should indicate how Society members can make reservations to attend the meeting. Communicating with the Membership via a Key Representative Program Some Societies such as the LOMA Society of Atlanta have implemented a “key representative” program for communicating with Society members. A key representative (Key) is the Society member or LOMA Ed Rep in each LOMA member company who serves as the primary contact among the designees, the company, and the Society. All Society information including meeting/activity announcements and Society newsletters are sent to the Key, who disseminates the information to company designees. The Key also assists the Society in maintaining an accurate membership list by keeping the Society informed about changes with designees in their company. Societies that use Keys should show their appreciation to the Keys by recognizing them at meetings and in Society publications. LOMA Society Officer’s Manual - 28 - Telephone Contact An often overlooked method that Societies may use to communicate with the membership is telephone calls. For example, each member of the Communications Committee may assume responsibility for phoning a certain segment of the membership to remind members of meetings and upcoming events. Telephoning is especially useful now that most offices have voice mail because a message may be left with confidence that the person will receive it. Communication with LOMA New President’s Organizational Report —NPOR The NPOR (see page 41) should be completed by the incoming Society president and must be received by LOMA by November 30. The NPOR includes Officer contact information Information regarding dues, Society services, and membership Officer contact information contained in the NPOR is entered into the Society officers' database and is used for Contacting Society officers and for providing officers with information Compiling the LOMA Society Officers' Directory The NPOR form may be downloaded from the “Society Officers’ Resource Center” at www.loma.org/SocietyResources.htm. We strongly recommend electronic submission of all Society forms, documents, articles, etc. via e-mail to [email protected]. LOMA also requests updates be submitted each May, preferably via e-mail. New President’s Planned Activities Report—NPPAR The NPPAR (see page 47) should be completed and turned in by the new Society president and is due at LOMA on November 30. The NPPAR provides an overview of Society activities planned for the upcoming year. The information contained in the NPPAR is compiled into a master Society activity calendar providing an overview of Society activities planned for the upcoming year in order to Plan Society visits Assist the treasurer with membership records, mailing lists, etc. Assist the president in completing reports (see page 7) Compose and mail congratulatory letters under the Society president’s signature to all new designees and/or Society members Manage the ordering and distribution of Society stationery Keep the membership roster up-to-date Ensure all communications are sent to the membership and to LOMA on a timely basis Manage public relations responsibilities We strongly recommend electronic submission of all Society forms, documents, articles, etc. via e-mail to [email protected]. LOMA also requests updates be submitted each May, preferably via e-mail. LOMA Society Officer’s Manual - 29 - General Communication LOMA is committed to supporting LOMA Societies in all their endeavors. However, LOMA’s ability to support Societies is contingent upon Societies’ communication with LOMA. In order for LOMA to effectively support the Societies, Societies must Keep LOMA informed of accurate officer information (This includes turning in the NPOR by November 30 and keeping LOMA informed of any changes in the officers’ roster during the Society year.) Send LOMA accurate information about Society meetings as far in advance as possible (This includes turning in the NPPAR by November 30 and keeping LOMA informed of changes in the Society calendar that occur during the year.) Send LOMA copies of board meeting and membership meeting minutes as well as activity and program reports so that LOMA can promote your Society and maintain a record of Society activities Include LOMA on the Society mailing list (This keeps LOMA informed of Society activities, provides information regarding the image that the Society is conveying to its members, and provides LOMA with ideas for new ways to assist Societies.) Provide feedback to LOMA (Respond to the surveys that LOMA frequently sends to Society officers requesting feedback on Society activity and LOMA services. Contact the LOMA Society Support Team at any time to offer suggestions on how Society support may be improved.) LOMA’s Communication with Societies LOMA communicates with Society officers via e-mail and telephone. However, when disseminating information that concerns all LOMA Societies, LOMA uses several different media. Every LOMA Society officer periodically receives LOMA Society Officers’ Update, the Society officers’ newsletter. Update shares information about Societies, covers LOMA programs and other information, reminds officers of expectations and deadlines, and communicates policy decisions regarding Societies. LOMA often channels information through Society presidents and/or committee representatives. Memos and other information are sent to Society officers as needed. Distinguished Service Award Programs It is essential that volunteer organizations such as LOMA Societies are able to motivate their members to participate and that they recognize and commend active members for their involvement. A Distinguished Service Award (DSA) Program is an excellent way to recognize outstanding contributions by Society members and to encourage participation in Society activities. A DSA program should be administered by the Society board of directors or by a DSA Committee. During the year, the DSA Committee should monitor the participation of Society members who can accumulate points for participation in Society activities based upon a scale determined by the board/DSA Committee. Toward the end of the Society LOMA Society Officer’s Manual - 30 - year, the DSA Committee will present nominations for DSA awards to the board of directors. There should not be a predetermined number of DSA awards presented; all deserving members should be recognized. Also, Society members should be eligible to earn as many DSAs as are merited by Society involvement. Each Society should publicize the presentation of DSAs and notify LOMA of the winners. Suggested Guidelines for DSAs include: 1. Appointing a DSA Committee 2. Assigning point values to Society activities based upon the Society’s mission and goals 3. Determining how point records will be maintained and who will be responsible for record maintenance 4. Sending LOMA an outline of the program criteria and an overview of how the program will be administered 5. Presenting nominations to the Society board of directors, who should determine the final recipients 5. Planing recognition of DSA recipients (DSA certificates are available from LOMA) 6. Sharing recognition activity information with LOMA for publication in Resource magazine Scholarship Programs for College and University Students Several Societies grant scholarships to college and university students. Society scholarships help deserving students and foster Society recognition in the community. Society scholarship programs may: Assist students in obtaining degrees of benefit to the insurance and financial services industry Increase recognition of LOMA designations and the LOMA Society Encourage membership in the Society by assisting a student who may eventually become a member Encourage area colleges and universities to grant academic credit for LOMA courses Recommended Requirements The sponsoring college or university should: Have a written policy for considering LOMA courses for academic credit Offer a curriculum that prepares students for careers in the insurance and financial services industry Have an office through which scholarship programs are administered Publicize the availability of the scholarship Be located in the Society’s area Recommend a student worthy of the scholarship, based on merit or need The student should: LOMA Society Officer’s Manual - 31 - Have a cumulative grade point average of at least 3.0, B, or the equivalent Show interest in pursuing a career in the financial services industry and should submit a written statement of their career goals Be pursuing a LOMA designation, have attained a LOMA designation, or make a commitment to pass at least one LOMA course during the next exam cycle (If applicable, LOMA course transcripts and grade reports should be obtained by the student from LOMA.) Not be a relative of any member of the Society board of directors or education or scholarship committee The LOMA Society of Greater Baltimore suggests the following guidelines for developing a scholarship program: 1. Appoint a scholarship committee to administer the program. The Society education chairperson is responsible for overseeing the scholarship committee and the development of a scholarship program. 2. Establish requirements for the sponsoring college or university and student candidates. 3. Establish application deadlines and an award presentation date. 4. Contact local colleges and universities to determine (a) whether or not they are willing to consider accepting LOMA courses for academic credit, (b) whether or not they would be interested in participating in the scholarship program, and (c) the approximate number of students each year who would meet the scholarship requirements. 5. Submit a report to the Society board of directors requesting membership approval for funding the scholarship from a narrowed-down list of potential sponsoring colleges and universities. 6. Determine how the scholarship funds will be managed and administered. 7. Send the sponsoring institution(s) detailed information about LOMA’s Programs, the Society, and the scholarship program (include scholarship application forms). 8. Sponsoring institutions should submit applications to the Society education chairperson who will evaluate each application and make recommendations to the board of directors. The board will vote to select the scholarship recipient. 9. Notify the student that they have received the scholarship, and arrange for the award to be presented to the student at a Society meeting. Take photos of the presentation and send them to LOMA for publication in Resource. 10. Make the scholarship award payable to the sponsoring institution that will credit the student’s account. Societies considering starting a scholarship program may contact one of the following Societies for information about their programs (see the current LOMA Society Officers’ Directory, available online at http://www.loma.org/Membership/Societies/Resources.aspx): LOMA Society of Ohio LOMA Society of South Central Texas LOMA Society Officer’s Manual - 32 - Cross-Credit Opportunities LOMA courses may often be used for academic credit at colleges and universities and to meet continuing education requirements for state licensing and other professional designations. LOMA Societies should consider pursuing projects that result in various organizations granting credit for LOMA courses. Seeking Credit for LOMA Courses at Colleges and Universities Academic credit for LOMA courses is granted at the discretion of individual colleges and universities. There are generally two methods by which colleges and universities may offer credit for LOMA courses: direct transfer of credit and prior learning programs. Direct transfer of credit is obtained when students enrolled in an institution follow established procedures in applying for academic credit for LOMA coursework. The process generally involves presenting an academic adviser with a LOMA transcript. The academic advisor and/or registrar will compare LOMA courses and credit recommendations with courses offered by the school. Prior learning programs award academic credit to students who demonstrate knowledge through prior educational experiences such as completion of the FLMI program. Several Societies have approached institutions in their areas requesting credit be granted toward particular programs of study—such as risk management—for the completion of LOMA designations. Establishing credit for LOMA courses with local universities makes the application process much simpler for individual students. The following Societies can provide additional information about cross-credit programs: The LOMA Society of South Central Texas The LOMA Society of Twin Cities Credit for the FLMI LOMA has established articulation agreements with numerous colleges and universities so credit for FLMI courses can be applied directly towards earning a degree. This is a wonderful benefit for your members who may be pursuing a degree at the same time they are earning their FLMI. For a complete list of colleges and universities that apply FLMI courses for credit to their own degree programs, write to [email protected] and the most current information will be e-mailed to you. Administering a College/University Academic Credit Approval Program More than 300 colleges, universities, and other academic institutions throughout the world have granted students credit for LOMA courses. All LOMA courses have been evaluated and are recommended for college and university academic credit by the National College Credit Recommendation Service (National CCRS), an independent agency of the New York State Education Department. This means that designees may receive up to 34 semester hours of academic credit toward a degree from a participating institution, and possibly more if additional electives have been completed. LOMA Society Officer’s Manual - 33 - Implementing academic credit approval programs Promotes LOMA programs Assists in the continuing education of Society members Enhances Society exposure in the community Recruits students into LOMA programs Decreases company’s costs for those supporting designations and continuing education programs Suggestions for Administering an Academic Credit Approval Program 1. Form a subcommittee of the Education Committee that reports to the Society education chairperson. 2. Compile a list of colleges and universities in the Society area (may be found at a local library). 3. Contact LOMA for a list of colleges and universities in the Society area that have accepted LOMA courses for credit. 4. Contact the LOMA Society Support Team for a list of the number of designees in your area and/or the number of area employees enrolled in LOMA courses. 5. From the information obtained above, compile a list of colleges in the Society area that do not offer credit for LOMA courses. 6. Further limit the list to institutions that would be most likely to offer credit for LOMA courses: Colleges/universities offering business and insurance degrees Colleges/universities offering evening classes Colleges/universities located close to insurance companies Affiliates of colleges/universities already granting credit for LOMA courses Competitors of colleges already granting credit for LOMA courses Colleges/universities in which LOMA students are currently enrolled 7. Assign specific institutions for subcommittee members to approach. Set a target date of three months for committee members to contact assigned institutions. 8. Periodically follow up with subcommittee members. Subcommittee members contacting colleges and universities should 1. Determine the institution’s policy on transfer credits and prior learning programs by consulting the institution’s catalog, application material, etc. 2. Determine who at the institution has the authority to review the LOMA programs to determine if credit will be granted (The college or university registrar’s office is a good place to initiate contact with the college/university and can usually assist you in determining which individuals should be contacted.) 3. Make an appointment to meet with the individual who will determine if credit should be granted for LOMA courses 4. Clearly present the Society’s position State the Society objective (“We would like for your institution to offer academic credit to students who have completed LOMA courses.”) Approach the institution using the philosophy that offering academic credit for LOMA courses responds to the needs of students and the business LOMA Society Officer’s Manual - 34 - community, and it will encourage LOMA students to enroll in other courses at the institution Emphasize the quality of LOMA courses, study materials, and examinations Display LOMA course materials Be prepared to answer questions on LOMA programs and how they are administered Be prepared to compare LOMA courses to courses taught by the institution by studying the course descriptions in the school’s catalog 5. Ask when and how the college/university’s decision will be communicated 6. Follow up with the contact if notification has not been made by the expected deadline 7. If the college/university agrees verbally to offer credit for LOMA courses, ask for a letter of confirmation outlining the details of the agreement 8. If the college/university decides not to offer credit for LOMA courses, determine why and ask if the school will reconsider the Society’s proposal at a later date 9. Notify LOMA with the results of the Society’s effort 10. Publicize the Society’s effort to area companies, Ed Reps, and the LOMA Society Support Team via Society and company newsletters, press releases, education fairs, etc. Other Applications of LOMA Coursework Societies may wish to publicize to the membership and prospective students other applications of LOMA coursework including Non-resident college degree programs Continuing education requirements for state licensing or professional designation programs Credit for other industry designation programs Contact LOMA for current information about application of LOMA course credit to other programs. LOMA Office of the Registrar 6190 Powers Ferry Road, Suite 600 Atlanta, GA 30339 Tel: 1-800-ASK-LOMA (Option 1) / 770-984-3761 Fax: 770-984-6415 E-mail: [email protected] LOMA Society Officer’s Manual - 35 - LOMA Course Classes and Study Groups Students often prefer to prepare for LOMA examinations through participation in LOMA course classes rather than through independent study. Some Societies offer to coordinate classes and study groups to assist students in preparing for exams and completing LOMA designations. Teaching Formal Classes Societies considering offering LOMA classes should first check with area Ed Reps at LOMA member companies to ensure that companies are not offering classes as well, and to determine if there is a demand for classes. Based on the information gathered from Ed Reps, determine which classes should be offered. Recruit potential instructors from among Society members or individuals with expertise in the functional areas being covered in specific courses. Determine the location where the classes will be offered. Company meeting and conference rooms are generally the best locations for classes. Establish the time when the classes will be offered. Determine the fee to be charged for the classes. Most students in Society-sponsored classes are charged a nominal fee, which is used for compensating instructors for their services. Publicize classes. The best way to publicize classes is through Ed Reps. However, if the Society would like to contact students directly, LOMA may be able to provide student information. Investigate the availability of instructors’ materials. The current edition of the LOMA Education and Training Catalog outlines courses for which instructors’ materials are available. Distribute instructor evaluation forms at the end of the course to evaluate student satisfaction. Working with Companies to Coordinate Classes If area companies are already offering classes, approach the companies about opening their classes to students from companies not offering classes. Publicize class information to Society members and area Ed Reps. You may also be able to volunteer Society members, especially those within their own companies to help teach the classes. Tutoring and Study Groups Ask Society members to volunteer to tutor LOMA students or, as an alternative to offering classes, host study groups or review sessions prior to paper examinations, or on a regular schedule if companies in your area primarily utilize I*STAR. Have a Society member and/or an individual with expertise lead the group and answer students’ questions about the material. Society members may also assist orient new employees within their companies by utilizing LOMA’s Instructors’ Kit, Intro to Life and Health. Promote these services to Ed Reps. LOMA Society Officer’s Manual - 36 - Mentoring Programs Student mentoring programs are designed to encourage students to continue enrolling in LOMA courses and to complete LOMA designations. In a mentoring program, Society members volunteer to serve as mentors to one or more students. Mentors are not tutors, but are available to students to offer encouragement and inspiration. The Society education chairperson working with Society volunteers and area Ed Reps should coordinate mentoring programs. Societies interested in starting a mentoring program may download the Model Mentor Program Guide for LOMA Societies from LOMA’s Web site, which provides additional information for administering mentoring programs. The Education Chair may always contact the LOMA Society Support Team if they require additional assistance. Examination Site Monitoring Paper examinations are administered twice a year in May and November. Computerized I*STAR exams are offered year-round at participating member companies. Administration of LOMA exams provides Societies with an excellent opportunity to help maintain the integrity and reputation of LOMA’s educational programs by allowing Society volunteers to serve as monitors for examinations. Exam monitoring information is available online in the LOMA Societies section of LOMA’s Web site, www.loma.org. The following are the guidelines for exam monitoring that are included in the exam monitoring information mailed to Society education officers: Assemble a list of Society volunteers willing to serve as exam monitors. Utilizing the resources that LOMA provides (see the section that follows), select which exam(s) each volunteer will monitor. Be sure to consider monitors’ schedules and office locations when making assignments. Using the sample provided by LOMA, compose a letter to all Ed Reps in your Society area, alerting them that random examination monitoring will be taking place. The letter should encourage Ed Reps to be cooperative when and if exam monitors drop in. Give each monitor a copy of the proctor instructions and a checklist for each examination he or she will be monitoring. Reiterate to monitors that their role is to observe and report their findings to LOMA. LOMA will conduct any follow-up if necessary. Encourage monitors to check with small companies administering examinations to confirm that students will actually be sitting for examinations. Follow up with the monitors after examinations are over to ensure that they have sent their checklists to the LOMA Society Support Team. Site Monitoring Resources Provided by LOMA A list of companies in your area administering examinations, Ed Reps for each company, and the number of students enrolled for each examination A copy of the “Official Exam/Proctor Instructions” LOMA Society Officer’s Manual - 37 - A sample letter to Ed Reps explaining the purpose of examination site visits and notifying them that random visits will be taking place Instructions for monitors Examination site checklists LOMA’s Outstanding Society Awards LOMA and the LOMA Society committee in an effort to recognize Societies that excel in the areas of membership, education, communication/public relations, and community service developed the Outstanding Society Award (OSA) program. The criteria for LOMA’s OSAs are reviewed by the LOMA Society committee when requested by Societies and modified as the LOMA Society committee deems necessary. A panel of three judges who determine the winners reviews award applications, and the awards are announced by LOMA in the summer. Winning Societies are presented with medallions and their achievements are publicized in Resource magazine. Visit the Society Officers’ Resources Center at www.loma.org/SocietyResources.htm for a copy of the OSA criteria or e-mail the LOMA Society Support Team at [email protected]. Resources Provided by LOMA LOMA is committed to providing the resources necessary to ensure the continued prosperity of LOMA Societies. LOMA has committed a team of professionals, the LOMA Society Support Team, to work with the Societies. LOMA is also dedicated to assisting individual designees in organizing new Societies and to expanding the recognition of LOMA designations throughout the insurance and financial services industry. LOMA Society Support Team The LOMA Society Support Team supports LOMA Societies by: Assisting in the establishment of Societies Coordinating Society services such as providing lists of designees in your area for your membership drives Producing and distributing Society publications Recording Society historical information when provided Responding to Society requests and inquiries Publications LOMA Society Officers’ Manual The LOMA Society Officers’ Manual is a guideline for Society management and operations. The Manual is available online at www.loma.org/SocietyResources.asp and printed copies are available by request through [email protected]. The Manual is updated on an as-needed basis. Any suggestions for improvement or additions to the manual should be directed to LOMA via e-mail at [email protected]. LOMA Society Officer’s Manual - 38 - LOMA Society Officers’ Directory The LOMA Society Officers’ Directory provides a complete listing of officers for all active Societies. The directory is compiled from the information provided in the NPOR. Directories are mailed to Society officers at the beginning of the Society/Calendar year and are available online at http://www.loma.org/Membership/Societies/Resources.aspx. Resource Magazine and LOMA Society News A one-year subscription to Resource, LOMA's Magazine for Insurance & Financial Services Management, is automatically distributed to Society Officers. “LOMA Society News” is the monthly Resource column devoted to LOMA Societies. “LOMA Society News” provides coverage of Society meetings and activities and a calendar of upcoming society events, offering an excellent opportunity for free Society publicity. Features to be printed in LOMA Society News should be e-mailed to [email protected]. Please include the following with your submissions: Date of the meeting or event Location of the meeting or event Number of attendees or participants Information about special recognition Name, professional title, and company of featured speaker, if applicable Detailed outline of the featured speaker’s presentation, if applicable Full names including all professional designations for Society members and speakers, if applicable Photos (Recommendations below) Use black and white film whenever possible (if you use color film, have it printed on glossy paper) Make sure your photo has a central subject or focus, e.g., a person Limit group photos to four or five people and focus on their faces Identify all individuals in each photo by name, position in Society, and company. Include information about what is happening in the picture Write names, designations, and additional information on the back of the photo using a felt tip pen Electronic photos need to be in either .tif, .eps, or .jpg format, with a minimum resolution of 300 DPI. Services Provided by LOMA Officers’ Training Workshop LOMA’s Society Officers’ Training Workshop (OTW) is held during LOMA’s Annual Conference and Conferment. The OTW is designed for incoming Society officers and provides a thorough overview of Society management and operations. It is also a wonderful opportunity to network and share ideas with other Society officers. OTW information is published throughout the year in Update, and registration information is emailed to Society officers at least six weeks prior to the conference. Designee Lists Upon request, LOMA makes lists of LOMA designees in their Society areas available to Societies. This information, contained in LOMA’s database and updated to the best of LOMA Society Officer’s Manual - 39 - our capabilities, and records are selected based on zip code ranges provided to LOMA by the Societies. To keep the database up-to-date, LOMA asks that Societies notify LOMA of all address, e-mail, employment, and other changes that they are aware of. All changes may be e-mailed to [email protected]. Lists for LOMA students and Educational Representatives (Ed Reps) are also available by request. Speakers/Visits by LOMA Staff LOMA’s goal is to send a staff representative to visit each Society at least once every three years. Staff visits are scheduled in conjunction with other LOMA business in the Society area. Societies may indicate if they desire a visit by a LOMA staff member in the NPPAR. LOMA will make every effort possible to accommodate Society visit requests and staff members who visit Societies are qualified to make presentations at Society meetings. Speakers Bureau The Society committee representative’s “Annual Report” requests detailed information about speakers who have addressed Societies during the year. LOMA will facilitate identifying and contacting local speakers on the Society’s behalf when requested. Assistance with Society Programs and Projects Societies are encouraged to contact the LOMA Society Support Team for projects. In addition, LOMA can refer Society officers to other Societies that have been involved in similar projects. The following materials are available for free or at a reduced cost* to Societies through LOMA: Individual Society logos for use in Society publications and promotional materials LOMA Society name tags* DSA certificates LOMA designation collection postcards LOMA Education & Training Program brochures Resource article reprints* Certificates of Society membership Certificates of recognition Gavel plaques* Society banners* *For information and costs for any of these resources, e-mail [email protected]. LOMA Society Officer’s Manual - 40 - New President’s Organizational Report—NPOR Due at LOMA November 30 Please return this report by November 30 to: LOMA Society Support Team LOMA 6190 Powers Ferry Road Suite 600 Atlanta, GA 30339 Fax: 770-984-6415 E-mail: [email protected] LOMA Society of: Year: Date new Officers assume their duties: Society Mailing Address (if available): Society e-mail address (if available): Web Address (if available): Society dues (if any): Services covered by dues: How many designees are considered active/dues paying members of your Society? How many Associate members are considered active in your Society? Additional Comments/Information: New? (check one) PRESIDENT Yes ____ No____ Full Name & Designations: Title: Company: Mailing Address: Telephone: Fax: E-mail Address: Alternative E-mail Address (if available): LOMA Society Officer’s Manual - 41 - New? (check one) VICE PRESIDENT Yes ____ No____ Full Name & Designations: Title: Company: Mailing Address: Telephone: E-mail Address: Alternative E-mail Address (if available): New? (check one) SECRETARY Yes ____ No____ Full Name & Designations: Title: Company: Mailing Address: Telephone: E-mail Address: Alternative E-mail Address (if available): New? (check one) TREASURER Yes ____ No____ Full Name & Designations: Title: Company: Mailing Address: Telephone: Fax: E-mail Address: Alternative E-mail Address (if available): LOMA Society Officer’s Manual - 42 - New? (check one) LOMA SOCIETY COMMITTEE REP Yes ____ No____ Full Name & Designations: Title: Company: Mailing Address: Telephone: Fax: E-mail Address: Alternative E-mail Address (if available): New? (check one) PAST PRESIDENT Yes ____ No____ Full Name & Designations: Title: Company: Mailing Address: Telephone: Fax: E-mail Address: Alternative E-mail Address (if available): New? (check one) MEMBERSHIP CHAIRPERSON Yes ____ No____ Full Name & Designations: Title: Company: Mailing Address: Telephone: Fax: E-mail Address: Alternative E-mail Address (if available): LOMA Society Officer’s Manual - 43 - New? (check one) TECHNOLOGY CHAIRPERSON Yes ____ No____ Full Name & Designations: Title: Company: Mailing Address: Telephone: Fax: E-mail Address: Alternative E-mail Address (if available): New? (check one) EDUCATION CHAIRPERSON Yes ____ No____ Full Name & Designations: Title: Company: Mailing Address: Telephone: Fax: E-mail Address: Alternative E-mail Address (if available): New? (check one) NOMINATING CHAIRPERSON Yes ____ No____ Full Name & Designations: Title: Company: Mailing Address: Telephone: Fax: E-mail Address: Alternative E-mail Address (if available): LOMA Society Officer’s Manual - 44 - New? (check one) AUDITING CHAIRPERSON Yes ____ No____ Full Name & Designations: Title: Company: Mailing Address: Telephone: Fax: E-mail Address: Alternative E-mail Address (if available): New? (check one) COMMUNICATIONS CHAIRPERSON Yes ____ No____ Full Name & Designations: Title: Company: Mailing Address: Telephone: Fax: E-mail Address: Alternative E-mail Address (if available): New? (check one) PROGRAM CHAIRPERSON Yes ____ No____ Full Name & Designations: Title: Company: Mailing Address: Telephone: Fax: E-mail Address: Alternative E-mail Address (if available): LOMA Society Officer’s Manual - 45 - New? (check one) Yes ____ No____ Full Name & Designations: Title: Company: Mailing Address: Telephone: Fax: E-mail Address: Alternative E-mail Address (if available): New? (check one) Yes ____ No____ Full Name & Designations: Title: Company: Mailing Address: Telephone: Fax: E-mail Address: Alternative E-mail Address (if available): LOMA Society Officer’s Manual - 46 - New President's Planned Activities Report—NPPAR Due at LOMA November 30 This information will be entered into LOMA’s master calendar for LOMA Societies and will be circulated to various publications and individuals. Please do not schedule activities other than exam site monitoring during LOMA exam weeks— second full week of May and first full week of November. LOMA Society of: Year: MEETINGS Dates Tentative/ Confirmed T C T C T C T C T C T C Program Description SEMINARS Dates Tentative/ Confirmed T C T C T C Program Description SOCIAL FUNCTIONS Dates Tentative/ Confirmed T C T C T C Program Description OTHER PROJECTS Dates Tentative/ Confirmed T C T C T C Program Description LOMA Society Officer’s Manual - 47 - LOMA COURSE CLASSES Spring/ Fall S F S F S F S F Course Number/Title Spring/ Fall S F S F S F S F Course Number/Title Other Activities: ________________________________________________________ _____________________________________________________________________ _____________________________________________________________________ LOMA Visits: When possible, LOMA likes to send a representative to visit each Society at least once every three years. Would you like to make special arrangements to have a LOMA representative visit your Society this year? Yes ____ No____ Is this a special occasion, anniversary, etc.? Yes ____ No____ If yes, please provide details: If a LOMA representative is available, would you like them to Deliver a keynote ____ Say a few words on behalf of LOMA and the global professional movement____ Would your Society be interested in having a LOMA staff member attend a meeting if one is traveling in the area? Yes ____ No____ If a LOMA representative is unavailable, would you like LOMA to recommend a speaker for your event? Yes ____ No____ Would you like LOMA’s assistance in locating speakers in your area to address your Society? Yes ____ No____ LOMA Society Officer’s Manual - 48 - Do you need LOMA’s help identifying speakers in your area? Yes ____ No____ If yes, please provide details and possible dates: Please return this report by November 30 to: LOMA Society Support Team LOMA 6190 Powers Ferry Road Suite 600 Atlanta, GA 30339 Fax: 770-984-6415 E-mail: [email protected] LOMA Society Officer’s Manual - 49 - Annual Report Due at LOMA November 30 LOMA Society of: Year: Please summarize briefly the following information: MEETINGS Date Topic/Speaker SEMINARS Date Length of Attendance Session Topics/Speakers Seminar 1. 3. 2. 4. 1. 3. 2. 4. SOCIAL FUNCTIONS (Other than those held in conjunction with meetings) Dates Attendance Description COMMUNITY SERVICE PROJECTS (Briefly describe project, indicating results and benefactors) Project Participation Description LOMA Society Officer’s Manual - 50 - OTHER ACTIVITIES (Briefly describe any other Society activities) Activity Participation Description Classes Course # of Fall/ Course # of Fall/ Number/Title Students Spring Number/Title Students Spring F S F S F S F S F S F S F S F S F S F S Newsletters: Were newsletters produced for Society members? Yes________ No________ Number of issues ________________ Meeting Minutes: Were meeting minutes taken and distributed to members? Yes______No______ Officer and Committee Reports: Please indicate if the required annual reports were made to the membership and/or board of directors. Please attach copies of the reports. Annual Reports Attached or Annual Attached or Report Previously Reports Report Previously Made? Submitted (Committees) Made? Submitted Y N Y N Y N Y N Y N Y N Dues: Did your Society charge dues? Yes__________ No__________ How much? ____________ Estimate what percent of companies pay for dues in your Society: __________% What other sources of revenue did you have this year? _____________________ Membership: How many active members does the Society have? __________________ LOMA Society Officer’s Manual - 51 - Surveys: Indicate if the Society surveyed the membership: ____________At the beginning of the year ____________At the end of the year ____________After each program ____________Other Please share any additional information about Society activity. _____________________ _______________________________________________________________________ _______________________________________________________________________ Please indicate areas in which the Society might have benefited from more assistance from LOMA. _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ In a separate document, please include the following information for each speaker that addressed your Society. This information will be compiled by LOMA and distributed to all Societies. Name Society seminar/meeting Organization represented Address Telephone number Fax number Topic/category (e.g., politics, business, etc.) Would this person be interested in speaking to other Societies? Did this person charge a fee? Please return this report by November 30 to: LOMA Society Support Team LOMA 6190 Powers Ferry Road Suite 600 Atlanta, GA 30339 Fax: 770-984-6415 E-mail: [email protected] LOMA Society Officer’s Manual - 52 - Society Member Survey Modified Sample from the Society of Nebraska The following data is for the use of the LOMA Society of Nebraska. It will be used and communicated only in the aggregate. No individual information shall be disclosed to any party. Please check the item most applicable in each category: AGE _____18 to 25 _____55 to 65 _____26 to 35 _____ Over 65 _____36 to 45 _____46 to 55 Education (Check the highest level completed) _____High school _____Master’s Degree _____Some college _____Ph.D. _____Bachelor’s Degree _____J.D. _____Graduate Studies _____Other (please explain) (No Degree) _____Master’s Degree Sex _____Female _____Male Years worked in the financial services industry _____ 1 to 5 _____ 6 to 10 _____ 11 to 15 _____ 16 to 20 _____ 21 to 25 _____ 26 to 30 _____ Over 30 Functional Work Responsibilities _____Accounting _____Marketing _____Actuarial _____Human Resources _____Product Development _____Systems _____Claims _____Data Processing _____Files & Records _____Policyowner Service _____Administrative Services _____Building Operations _____Investments _____Legal Other Professional Designations _____ALHC _____CFA _____CIA _____CDP _____CFP _____CLU _____CEBS _____ChFC _____CPA _____OTHER - Please list _____Underwriting _____CPCU _____FSA _____CSP _____RHU _____FALU LOMA Society Officer’s Manual - 53 - Meetings How many meetings of the Society have you attended? _____ The number of the meetings the Society has held is: _____About right _____Too many _____Too few opinion The Society’s meetings have been: _____Successful _____Somewhat disappointing _____No _____Fairly successful _____ Disappointing Please describe the program or the meetings your Society has held that you consider to have been: The most successful ______________________________________________________________________ __________________________________________________________ ________________________________________________________________ The least successful ______________________________________________________________________ __________________________________________________________ ________________________________________________________________ Opinions on the LOMA Society and its future: Listed below are some objectives of a LOMA Society. Please check importance you would assign to each objective. Most Important Very Fairly Not Very a. To advance educational interests _____ _____ _____ ____ b. To enhance recognition of LOMA designations _____ _____ _____ _____ c. To encourage friendly social relations among designees _____ _____ _____ _____ d. To promote a greater understanding of life insurance management problems _____ _____ _____ _____ e. To aid the professional advancement of its members _____ _____ _____ _____ LOMA Society Officer’s Manual - 54 - f. To assist members in keeping up-to-date on latest developments in the insurance industry _____ _____ _____ _____ g. To promote increased participation in LOMA Programs _____ _____ _____ _____ h. To help maintain the quality & standards of LOMA Programs _____ _____ _____ _____ i. To help those enrolled in LOMA Programs _____ _____ _____ _____ j. To enhance the public’s understanding of the life insurance industry _____ _____ _____ _____ Other: ______________________________________________________________________ __________________________________________________________ Are you satisfied with the number of designees who have become members of the LOMA Society?_____Yes _____No Do you have any ideas on how to attract new members? ______________________________________________________________________ __________________________________________________________ Are you satisfied with the programs of the Society? _____Yes _____No What would you like to see improved? ______________________________________________________________________ __________________________________________________________ What additional activities would you like to have the Society undertake? ______________________________________________________________________ __________________________________________________________ What kind of recognition do you feel your Society has within your company? _____Great deal _____Fair amount _____Very little LOMA Society Officer’s Manual - 55 - What kind of recognition do you feel your Society has within the financial services industry in your community? _____Great deal _____Fair amount _____Very little Do you have suggestions to improve the public image of the LOMA Society within your company or community? ______________________________________________________________________ __________________________________________________________ Other comments: LOMA Society Officer’s Manual - 56 - LOMA Society of South Central Texas 2009 Goals and Objectives (sample) The goals and objectives of our Society are set out below. Achievement of each will require participation and dedication to the projects adopted for this year. 2008 Goal Actual 80% membership renewal (93-195) 7% membership growth 60% attending one function 45% new FLMIs at banquet 10% members in mentor program 91% 12.5% 75% 45% 24% 2008 Goal Actual as of May 3rd 90% membership renewal 10% membership growth 70% attending one function 50% new FLMIs at banquet 10% members in mentor program 90% (198 total) (176) 11% (22) 47 mentors/75 students (as of 9-23) Activities planned to assist in achieving the above goals: a. The membership chairperson will continue an aggressive and well-organized program aimed at attaining our membership goals. This will include letters and calls to non-renewing members. b. The vice president and education director will focus on programs of interest to the Society membership. Through aggressive publicity we will encourage attendance at functions. c. The annual banquet will be organized with recognition of new FLMIs and FFSIs as its primary focus, and Distinguished Service Awards will be presented. Spouses or guests of new Fellows will be invited as guests of the Society. d. We will continue the implementation of the mentor program. e. New endeavors for 2004 to generate more interest and participation from membership: 1. San Antonio Food Bank (Feb) 2. San Antonio Battered Women’s Shelter (May) 3. Circle T. Riding Center for trauma victims (April/May) 4. KLRN auction (June) 5. Habitat for Humanity (Fall) LOMA Society Officer’s Manual - 57 - LOMA 2004 Projected Budget and Expenses LOMA Society of the Twin Cities May 6, 2009 (sample) 2008 actual 2009 budget 2009 actual 2009 variance $4,423 6,545 10,968 $3,195 6,700 9,895 $3,195 6,362 9,557 $0 (338) (338) New member recognition gifts 184 250 0 250 Master FLMI recognition gift ACS recognition gifts Service award to Past President Printing (Newsletter) Officers workshop in San Fran Nametags FLMI banners Professional Speakers showcase 52 36 100 250 40 0 0 62.62 100 250 (22.62) 1,450 500 0 0 0 1,500 500 120 0 0 412.25 0 43.98 0 0 1,087.75 500 76.02 0 0 Total Expenses Revenue less expenses Net meeting costs Officer orientation meeting Winter meeting (Feb) Spring meeting (May) Company rep lunch Recognition dinner Fall meeting 2,222 8,746 0 231 209 3,544 750 367 450 5,551 3,195 2,760 7,135 0 225 200 3,000 750 250 1,000 5,425 1,710 518.85 9,038.15 0 171.20 454.95 0 0 0 0 626.15 8,412 2,241.15 1,903.15 0 52.80 (254.95) 3,000 750 250 1,000 4,798.85 6,703 Revenues Beginning cash balance Dues Total Beginning Cash balance Expenses Total meeting costs Ending cash balance LOMA Society Officer’s Manual - 58 - The LOMA Society of Toronto Financial Statement Balance as of November 30, 2009 (sample) Cash on hand – January 1, 2009 Income: March Breakfast meeting May Luncheon meeting September Breakfast meeting November Recognition Event Seminar Three Rivers Festival Donation Interest – January – November 2009 $980.20 600.00 462.00 598.00 344.00 4,375.00 13.00 8.96 $6,400.96 Expenses: March Breakfast meeting May Luncheon November Event (rental deposit) November Event Refund Three Rivers Festival Insurance Three Rivers Festival face painting supplies Donation to Iowa Flood Victims Seminar Seminar Refunds Service Charge Service Charge (NSF for check deposited) Cash on hand – November 30, 2009 Savings Checking 457.92 487.33 100.00 8.00 80.00 100.22 100.00 1,068.20 145.00 50.00 5.00 $4,779.49 $ 104.58 $4,674.91 $4,779.49 +134.44 -1,601.14 +48.00 -16.00 -634.41 -56.96 -560.74 -unknown +unknown $2,092.68 Due from E&Y for reception at seminar Seminar expenses (hotel and Victoria Wilson) November event registration fees November event registration refunds Caterer for Nov event Supply of FLMI and ACS ribbons Caterer for September breakfast (estimate)* Charges from LOMA for seminar** Lincoln National’s contribution to the November event Estimated Balance *This is an estimate based on 92 attendees at $5.75 each, plus tax. Classic Café has been contacted, but we have not received the bill for this. ** Have not received the bill from LOMA. Prepared by: Carolyn J. Grepke, LOMA Society Treasurer LOMA Society Officer’s Manual - 59 - Atlanta LOMA Society Meeting Evaluation October 4, 2009 Sheraton Suites – Cobb Parkway (sample) Overall Program Excellent Good Fair Poor No Opinion Overall Content Publicity Organization Format Location Facilities Food Service Prices Speaker Jimmy Lord, Chairman, Georgia House of Representatives Insurance Committee Excellent Good Fair Poor No Opinion Content Presentation Format Comments: ____________________________________________________________________________________ ____________________________________________________________________________________ ____________________________________________________________________________________ ____________________________________________________________ Would you be willing to serve on an Atlanta LOMA Society Committee or a community service project? _____Yes _____No Name: ________________________________________ Company: _____________________________________ Phone Number: _________________________________ LOMA Society Officer’s Manual - 60 - MODEL CONSTITUTION AND BYLAWS LOMA SOCIETY OF [name designated for the local chapter] Adopted [date] The wording in brackets, e.g. [ ], is optional and may be modified or deleted to suite a particular society’s needs. Otherwise, the text may not be modified or deleted without express approval of LOMA. Modifications are allowed only under situations of extreme urgency, such as conflicts of law or established procedures. ARTICLE I Name A. The name of the organization shall be the LOMA Society of [name designated for the local chapter]. ARTICLE II Purpose and Goals A. The Society has as its purpose the establishment of a local professional organization of persons who within the meaning of the tax laws applicable to that country and the local chapter as a not-for-profit organization, in conformance with the objectives and policies of LOMA, desire to promote their common interest and thereby serve the public interest. B. Specific goals of the Society shall include the following: 1. To continue to advance the professional and educational interests of its members 2. To promote and enhance recognition of the Fellow, Life Management Institute (FLMI), the Fellow, Financial Services Institute (FFSI) and other LOMA designations recognized by the Society 3. To encourage professional, educational, and social interaction among those who have received the FLMI, FFSI or other designations recognized by the Society 4. To promote greater understanding and appreciation of the Life Insurance, Banking and Financial Services Industry and of effective practices in management and operations 5. To encourage and aid participation in the LOMA Education Programs and to cooperate with LOMA in its educational activities 6. To encourage in its members a high standard of professional conduct 7. To cooperate with other LOMA Societies to further the purposes mentioned above. ARTICLE III Membership A. Membership in the Society is open to any person authorized by LOMA to use a LOMA designation. B. [Associate membership may be granted to: 1. An active LOMA student. An active LOMA student is defined as one who has taken a LOMA examination within the last two years. 2. A LOMA Educational or Principal Representative regardless of whether the individual holds a LOMA designation or is an active LOMA student. Associate members have no voting rights.] C. [Any eligible person may become a member or associate member by filing an application with, and paying any required dues to, the Society.] LOMA Society Officer’s Manual - 61 - ARTICLE IV Officers and Directors A. Associate members and nonmembers may not hold offices nor may they serve as members of the Board of Directors. B. The officers shall be a President, a Vice President a [Secretary] [Treasurer] [Secretary/Treasurer], and [an Immediate Past President]. Each officer shall serve for a term of one year or until a successor is elected and installed in office. [No [officer] [President] may serve in the same position for more than two consecutive terms.] C. The Board of Directors of a Society includes the officers specified in Article IV, Section B. The Board of Directors of a Society may also include but is not limited to: Directors, Committee Chairs and a LOMA Society Committee Representative. D. [In the event of a vacancy the Board of Directors may designate or approve a qualified Society member to serve in the vacant position until a successor is elected by the Society membership and installed. OR In the event of a vacancy the Nominating Committee may submit a candidate to the Board of Directors. The Board of Directors shall elect a qualified Society member to serve in the vacant position until a successor is elected by the Society membership and installed.] ARTICLE V Nominations and Elections A. A Nominating Committee consisting of no fewer than three members shall be appointed by the President, with the approval of the Board of Directors, with one member being designated as chairperson. Not less than six weeks (42 days) prior to the annual election, the Nominating Committee shall solicit recommendations for nominees for all offices to be filled at the election, and shall investigate and verify the eligibility and qualifications of all persons under consideration. [The committee shall submit its nominations not less than four weeks (28 days) prior to the annual election.] The committee shall announce its nominations to the membership not less than ten (10) days prior to the election. B. Additional nominations may be made from the floor at the annual election. An oral or written statement from each candidate nominated indicating qualifications and a willingness to serve must accompany nominations from the floor. C. Election of officers or slate of officers shall take place at the annual elections. Each society member in attendance shall have one vote. The candidate or slate of candidates receiving a plurality of all votes cast shall be declared the successful candidate or slate of candidates. D. Officers shall assume office at the beginning of the Society/fiscal year following the election. ARTICLE VI The Board of Directors A. Subject to the ultimate authority which is vested in the membership of the Society, the Board of Directors shall establish Society policy and shall be responsible for the administration of the Society. The Board may delegate such powers as it deems desirable to any officer, member, or committee. B. The Board of Directors shall meet formally at such times and places as may be determined by action of the board, by call of the President, or by written request of any three members of the board. Notice of the time and place of all formal meetings of the Board of Directors shall be communicated to each board member [by the Secretary] not less than five days prior to the said meeting. C. __________ members of the Board of Directors shall constitute a quorum for the transaction of business at board meetings. LOMA Society Officer’s Manual - 62 - D. The member of the Board of Directors designated as the Society’s Representative to the LOMA Society Committee, pursuant to Article IV of these bylaws, shall by January 31 of each year submit to LOMA a written report of the Society’s activities for the previous year (the Annual Report). The Committee Representative shall be authorized to represent the Society at all meetings of the LOMA Society Committee, and shall ensure that the Society membership is informed of all policy decisions, action plans, and other results of such meetings. ARTICLE VII Duties of Officers A. The President shall serve as the Society’s chief executive officer, exercising general administrative responsibility and control over the activities of the Society. The President shall preside at all meetings of the Society, act as chairperson of the Board of Directors, and perform other duties as usually pertain to the office of President. B. The Vice President shall be in charge of programs for the Society. In the absence or incapacity of the President, the Vice President shall perform the duties of, and have the same authority as the President. C. The Secretary shall be responsible for keeping a permanent record of all meetings of the Society and of the Board of Directors and for ensuring that written notice of all Society meetings is sent to the membership at least ten days in advance of each meeting. The Secretary shall also be in charge of all Society communications and publicity of Society activities. D. The Treasurer shall be custodian of all the Society’s funds and shall be responsible for administering the Society’s annual budget. The Treasurer shall submit periodic financial reports to the Board of Directors and an annual statement to the members of the Society. E. At the discretion of the board, the Secretary and Treasurer positions can be combined to one position and shall perform the duties of both the Secretary and the Treasurer as described above. F. The Immediate Past President shall assist the President and the President-Elect with any arrangements necessary following the annual election to ensure a smooth, effective transition of management of all functions, activities, duties, and responsibilities and shall perform other special duties and responsibilities as may be requested or delegated by the President. ARTICLE VIII Committees A. With the approval of the Board of Directors, the President shall appoint any or all of the following committees. 1. Nominating Committee responsible for nominating officers as outlined in Article V. 2. Education Committee responsible for coordinating all Society education activities. 3. Auditing Committee consisting of one or more Society members who shall oversee the audit of the Society accounts and submit a report to the membership at the annual meeting. 4. Communications Committee responsible for coordinating all Society communications and publicity as well as promotion of Society activities and serves as a liaison between the Society, other Societies and LOMA. 5. Membership Committee responsible for promoting membership in the Society, and for coordinating the recognition of new designees. 6. Program Committee responsible for coordinating arrangements for all Society meetings and programs. 7. Technology Committee responsible for coordinating, reviewing and recommending all technological aspects of the operations of the Society. This includes databases, websites, technical equipment, etc. B. Other committees shall be appointed as deemed advisable by the President or the Board of Directors. Each committee shall report directly to the Board of Directors or through an elected officer, as designated by the President. LOMA Society Officer’s Manual - 63 - C. Each committee shall be under the leadership of a Chairperson [or co-chairpersons], who may be elected by the committee or the society membership or appointed by the President. The Chairperson [or co-chairperson] must be [a member][members] of the Society and shall be responsible for convening and conducting committee meetings, and for delegating responsibility for committee activities. D. The Chairperson of each committee shall file a written report with the Board of Directors for presentation to the membership at the annual [election] meeting of the Society. Interim reports shall be filed as requested by the President and/or the Board of Directors. ARTICLE IX Meetings A. The annual [election] meeting of the Society should be held in the fall of each year, the time to be determined by the Board of Directors. Notice of the meeting shall be mailed to each member of the Society not less than ten days prior to the date of the meeting. B. The topics to be covered at the annual meeting shall include the following: 1. Reports: a. President’s report, including a summary of business transacted by the Board of Directors since the last annual meeting b. Vice President’s report, including a summary of the Society’s meetings and programs for the past year c. Report of the Secretary/Treasurer d. Reports of the standing and special committees e. LOMA Society Committee Representative’s report 2. Unfinished and/or old business 3. New business 4. Recognition of new FLMIs and FFSIs 5. Presentation of resolutions and/or special awards, recognition, etc. 6. Nomination and election of new officers C. Other meetings of the Society may be called by the President or the Board of Directors at their discretion, and notice of the time and place of each meeting shall be given in advance to all members of the Society. [Written notice of any meeting at which official business is to be conducted must be given to all Society members at least ten (10) days prior to such meeting.] D. At all Society meetings, a quorum for the transaction of business shall consist of the lesser of ___% of members or ____ members. E. Any matter arising at a meeting not otherwise expressly covered by these bylaws will be considered and acted upon in accordance with Robert’s Rules of Order. LOMA Society Officer’s Manual - 64 - ARTICLE X Fiscal Year and Responsibilities A. The fiscal year of the Society shall be from [January 1 through December 31] for a 12 month period of each year. B. [Dues shall not be required as a condition of membership in the Society.] C. [Dues for members and/or associate members shall be determined by the Board of Directors subject to the approval of the membership of the Society and shall be payable annually on a date specified by the Board of Directors. Any member of the Society delinquent in the payment of dues shall cease to be a member in good standing and shall not be entitled to vote or hold Society office, except that such members shall be reinstated in good standing at any time upon payment of the outstanding dues for the then-current year.] D. [Funds of the Society shall be deposited in an institution designated by the Board of Directors.] E. [The Board of Directors shall designate persons authorized to sign checks or contracts or otherwise incur expenditures or financial obligations on behalf of the Society, and shall determine and administer such control systems as the Board deems necessary. Officers authorized to sign checks may be bonded, at the expense of the Society, in an amount fixed by the Board of Directors.] F. [The annual Society budget for the coming year shall be approved by the Board of Directors before the first membership meeting of each new fiscal year]. G. [The annual Society budget shall be presented to the membership as soon as possible each new fiscal year.] ARTICLE XI Amendments This constitution and bylaws may be altered, amended, or repealed, and new bylaws may be adopted, in the following manner. A. Any proposal to alter, amend, adopt, or repeal a bylaw shall first receive the affirmative approval of two-thirds of the Board of Directors. B. Upon such approval, a copy of the proposal shall be submitted to LOMA which must within thirty (30) days acknowledge receipt of the proposal and state in writing whether the proposal is approved, not approved, or deferred for decision for a reasonable and specified interval pending further review. C. [Upon approval of the proposal by LOMA, the Society Secretary shall distribute a copy of the proposal to the membership, accompanied by notice of the date, place, and time of the meeting at which the vote for the proposal shall be held. Notice shall be mailed to each member at least twenty-one (21) days in advance of the meeting.] D. [The proposed alteration, amendment, repeal, or adoption shall be deemed effective only if the conditions in sections A, B, C or Article XI are satisfied and at least two-thirds of the total number of votes cast by the membership are affirmative.] ARTICLE XII Termination of Society LOMA shall have the right at any time, upon determining that the Society or its members have failed to abide by this constitution and bylaws, or any applicable bylaws, rules, or regulations of LOMA, or acted in any way detrimental to the protection of LOMA’s service marks, to terminate the right of the Society to use the name “The LOMA Society of [name designated for the local chapter]”. Upon such termination, the Society shall discontinue use of such name and shall not thereafter use or adopt any name containing the terms “LOMA” or any LOMA designations in connection with the Society or its activities, and that upon such termination, LOMA shall have the right to require that the Society change its name and to prevent the Society from using the term “LOMA,” or any mark or name similar thereto, in its name or in connection with its activities. LOMA Society Officer’s Manual - 65 - Adopted this ____day of _____________, 20_________, at _____________. In consideration of the adoption of the preceding constitution and bylaws by the members of the Society, the mutual agreement of the members to abide by and conduct themselves in accordance with such constitution and bylaws and any applicable bylaws, rules, or regulations of LOMA, and their agreement not to repeal, alter, or amend the preceding constitution and bylaws, or to adopt new bylaws without express written approval of LOMA, LOMA agrees to grant the Society the right to use the name “The LOMA Society of [name designated for the local chapter],” provided that LOMA may at any time terminate such right if it determines that the Society or its members have failed to abide by such agreement as determined by LOMA. LOMA By_____________________________________________ President LOMA Society Officer’s Manual - 66 - SAMPLE NEWS RELEASE - LOMA Society Recognizes New Designees FOR IMMEDIATE RELEASE For more information contact: (Name) Phone: Fax: E-mail: LOMA Society of (NAME) Recognizes and Welcomes New Designees City, State—Date—“The LOMA Society of (name) honored (number) new LOMA designees at the Society’s (month) meeting,” stated (name), Society president. The evening’s focus was to honor the new designees for their successful completion of one or more designation conferred by LOMA, headquartered in Atlanta, Georgia. The following new designees were honored by the Society: (Name) (Title) (Company) (and so on) (Designations) LOMA’s programs are some of the world’s most recognized and reputable professional education institutions. Students select courses from more than a hundred that are available in life insurance, financial services, annuities, management, reinsurance, compliance, underwriting, customer service, and more. By completing one of LOMA's professional designation programs, students receive a sense of personal accomplishment and earn the respect of colleagues throughout the industry. The LOMA Society of (name) is one of more than 44 Societies located around the world dedicated to promoting professionalism and continuing education in the life, health, and financial services industry through activities such as (list three or four significant Society functions such as teaching classes, offering scholarships, hosting important speakers and seminars). Established in 1924, with 1,200 plus member companies in over 80 countries, LOMA is committed to a business partnership with its world-wide members in the insurance and financial services industry to improve their management and operations through quality employee development, research, information sharing, and related products and services. ### LOMA Society Officer’s Manual - 67 - SAMPLE NEWS RELEASE - LOMA Society General Information FOR IMMEDIATE RELEASE For more information contact: (Name) Phone: Fax: E-mail: LOMA Society of (NAME) Committed To Professionalism In The Financial Services Industry City, State—Date—The LOMA Society of (name) is dedicated to promoting professionalism and continuing education in the life, health, and financial services industry through activities such as (list three or four significant Society functions such as teaching classes, offering scholarships, hosting important speakers and seminars). The LOMA Society of (name) was founded in (year) in (city) with (number) charter members. Today, the Society boasts (number) professionals as active Society participants. The Society is one of more than 44 LOMA Societies around the world. These Societies represent the more than 75,000 FLMIs in the insurance and financial services community who have earned the Fellow, Life Management Institute (FLMI) designation. Established in 1924, with 1,200 plus member companies in over 80 countries, LOMA is committed to a business partnership with its world-wide members in the insurance and financial services industry to improve their management and operations through quality employee development, research, information sharing, and related products and services. LOMA’s programs are some of the world’s most recognized and reputable professional education institutions. Students select courses from more than a hundred that are available in life insurance, financial services, annuities, management, reinsurance, compliance, underwriting, customer service, and more. By completing one of LOMA's professional designation programs, students receive a sense of personal accomplishment and earn the respect of colleagues throughout the industry. ### LOMA Society Officer’s Manual - 68 - SAMPLE NEWS RELEASE - LOMA Society Elects New Officers FOR IMMEDIATE RELEASE For more information contact: (Name) Phone: Fax: E-mail: (Name of new president) Elected President Of The LOMA Society Of (Name) City, State—Date—(Name, designations/title/company) has been elected president of the LOMA Society of (name) for the (year) Society year. (Mention biographical information on the president including major professional, educational, and civic activity during recent years.) Also elected were: Vice President Secretary (and so on) (Name) (Name) (Title) (Title) (Company) (Company) The LOMA Society of (Name) is one of more than 40 LOMA Societies around the world. These Societies represent the more than 70,000 LOMA designees in the insurance and financial services community who have earned the one or more professional designation. LOMA, headquartered in Atlanta, Georgia, is an international, non-profit trade association in the financial services industry committed to a partnership with its worldwide members in the financial services industry. LOMA is dedicated to improving management and operations of the financial services industry through quality employee development, research, information sharing, and related products and services. LOMA’s programs are some of the world’s most recognized and reputable professional education institutions. Students select courses from more than a hundred that are available in life insurance, financial services, annuities, management, reinsurance, compliance, underwriting, customer service, and more. By completing one of LOMA's professional designation programs, students receive a sense of personal accomplishment and earn the respect of colleagues throughout the industry. ### LOMA Society Officer’s Manual - 69 -
© Copyright 2024