On March 7th the Finance Department at MTMIC printed up 604 member checks. The checks totaled $3.5 million. This was the amount that was declared at the February board meeting to be refunded to MTMIC members. Similar to last year, the member’s dividend is made up of two parts. The first part applies to all members that have a current policy with MTMIC, and also was covered with the company as of December 31, 2014. A second dividend was also included in the check calculation. This amount was $2.1 million, and is paid to members with an outstanding claim history. The claim history of members reviewed were from January 1, 2011 through December 31, 2013. With this dividend declaration of $3.5 million, the MTMIC board of directors has returned $6 million in the last two years to MTMIC members. This amount reflects 1outstanding loss control, claims handling, and risk selection of MTMIC members.
Attached to this article are pictures of some of my visits. As I have mentioned before, the best part of my job is showing up at MTMIC members and giving you a check. Between myself and staff, we have now delivered 75% of all of the member checks. We have another week or a week and a half of delivery in front of us. As president of the company, I want to thank the members, the staff, and the board of directors for managing the results of the company to allow this to happen. Nothing reinforces that we are a small member owned, member directed company, than returning profits to our member owners. As I said last year, let’s do this again. I will say the same thing now; let’s do this again next year.
In that vain, while we are very early in the year I can tell you that the January/February results show a continuation of the prior two year results. We still have a 10 months to go – lots can and will happen during this time period; however, we started the year strong and will continue to remain focused to do all we can to make sure this member benefit continues.Thank you again for your support and all the great visits that I/we have had with our members over the last two weeks. We will be doing more of these over the next week or two.
