At the MTM annual members meeting October 19th, we had a couple terrific guest speakers and presented the current status for a members dividend in March 2018. At the meeting we also had the handoff of the MTM Chairman’s leadership from Kurt Heuser to Jack Accardo. Kurt was the Chairman for 5 years and below are some words about his experience.
For those of you who were unable to attend the October Annual Members meeting, an important leadership change was announced. After 5 years of being honored with the position of Chairman of the MTM Board of Directors, it was time for a new leader to take the reins. With nearly 100 MTM members present, I handed the Chairman’s gavel to Mr. Jack Accardo.
Jack is a long time MTM Board Member, Chairman of the MTM Finance Committee and CFO of Haller Industries in Detroit. Jack has the ability to bring common sense solutions to the table. I have known Jack for 15 years and I am confident about his leadership qualities.
Looking back I am very proud of the MTM Board, Officers, Staff and Member Owners. Here is what we accomplished together:
- Our membership count has increased by 51% (Special thanks to the MTM Marketing staff).
- Our premium income increased by 42%.
- Our claims frequency is nearly half of what it was (special thanks to the MTM Claims and Loss Control staff).
- The MTM staff is stable (last new hire or departure was over 4 ½ years ago) and with deep knowledge of the Michigan law.
- The financial strength, member surplus increased by 280% (Special thank you to our Treasurer).
I would also like to thank: Mr. Al Gardner, investment advisor for MTM and Mr. Gary Wood. Gary retired as COO from the MTM in 2013. Today Gary continues with MTM as an underwriting advisor. Mr. John Karlen, President and CEO of MTMIC. John’s vast experience and knowledge has brought continuous innovation to the organization.
All of these factors contributed to some amazing owner benefits. In 2015, $2,500,000 was returned to members in the form of a dividend. In 2016, we were able to increase the dividend to $3,500,000. In 2017, a $3,500,000 dividend was returned with an added benefit of also an increase in premium credits (i.e. lower premiums paid by our members) that benefited our members to the tune of $1,700,000.
Together our Members, Staff and Board Directors have accomplished some amazing results. I am confident in the continued strength of the organization as we move forward.
As for myself, I continue as Director on the Board of MTM along with my duties as President of Bokum Tool Company, Inc. Bokum Tool is a 3rd generation cutting tool company located in Madison Heights and was founded in 1937.
Sincerely, Kurt Heuser
