The authorization to extend the Order to the Philippines, which was approved by the Supreme Board of Directors on January 9, 1905, precluded the Knights of Columbus insurance program. Thus, in 1932, members of Manila Council 1000 organized the Assosacer de Socorros Mutuous de los Caballeros de Colon (Association of Mutual Help of the Knights of Columbus) to establish a mortuary fund system. However, since the Association was not founded on sound actuarial principles, it died a natural death in 1938. Sensitive to the needs and restricted resources of the economically underprivileged members of KC-Philippines, Rev. Fr. Willmann was moved to implement the Order’s mutual benefit objectives by spearheading the organization of a local KC insurance system. The Knight of Columbus Supreme Council approved the establishment of a Philippine Fraternal Insurance through then Territorial Deputy, Rev. Fr. George J. Willmann and granted permission to use the name “Knights of Columbus”. On August 1, 1958, the Knights of Columbus Fraternal Association of the Philippines, Inc. was incorporated and registered with the Securities and Exchange Commission (SEC). Then, on September 9, 1958, KC Fraternal was duly licensed by the Insurance Commission to operate as an insurance system for the exclusive protection of the members of the Knights of Columbus and their immediate family members. Its initial capital of P32,000.00 represented the total contributions of sixty-four Filipino Knights and Councils who donated P500.00 each. In its basic aspect, KC Fraternal was created to conform with other insurance companies. It was founded upon scientific and actuarial principles, and governed by the licensing and supervisory rules of the Insurance Commission. On the basis of its objectives, however, KC Fraternal was recognized as a Mutual Benefit Association with the following distinctions, (a) it is non-stock and non-profit (b) it caters exclusively to KC Members and their families and all of its insured members participates in the divisible surplus of the Association. KC Fraternal made its debut in the insurance business under the able management of the following charter officials: Bro. Roman Mabanta, Sr.-Trustee/President; Bro. Alejandro D. Tanabe-Trustee/Vice President, Bro. Carlos E. Santiago-Trustee/Treasurer, Bro. Hermenegildo B. Reyes-Trustee, and Bro. Basilio King – General Manager, and Bro. Isagani B. Tolentino – Assistant General Manager. Before 1972, when KC Fraternal acquired its own building at the corner of General Luna and Sta. Potenciana Streets in Intramuros, Manila. It had been into two other locations in the same district. At first, it shared the headquarters of Manila Council No. 1000 on Beaterio Street until 1967, after which the DIMSCO Building on Arzobispo Street became KC Fraternal’s new base of operations. The blessing of the half-million-peso KC Fraternal edifice located on the corners of General Luna and Sta. Potenciana Streets on December 23, 1972 occasioned its dedication, by the then KC Fraternal President Roman Mabanta, Sr. to the first Philippine Deputy, Rev. Fr. Willmann, to whom was attributed the successful expansion of the Order in the Philippines.
Why you need a KC Fraternal Benefit Certificate?
- Ownership: By being an insured member, you become a co-owner of the Association. More and more members and their loved ones take part of the Association’s protection program. There are more than 60,000 insured KC members including families with P8.17 Billion of benefit certificate in force.
- Commitment: Your Fraternal Counselors do not serve part time or full time; but all the time. Hence our motto… “Committed to Serve.”
- Terminal Benefit: After the BC has been in force for 10 yrs., you or your beneficiaries are entitled to additional cash benefit upon a claim.
- Worthy Causes: The KC Philippines Foundations, Inc. and KC Rev. Fr. George J. Willmann Charity, Inc. give assistance for educational funds and livelihood projects.
- Efficiency: The BC holder is the most important person since he is the reason for our existence.
- Stability: The Association’s total assets in 2007 add up to P2.37 Billion.