Ukrainian National Association

What Ukrainian National Association does

The Ukrainian National Association, Inc. (UNA) is a not-for-profit fraternal benefit society founded in 1894 in Shamokin, Pennsylvania, and currently headquartered at 2200 Route 10, Parsippany, New Jersey. It serves members of Ukrainian heritage across 15 US states and Canada through a dual model combining regulated life insurance and annuity products with community, cultural, and educational benefits. Its core product portfolio includes permanent life insurance (Whole Life, Life Paid Up at 65, 20-Payment Whole Life, Single Premium Whole Life), term life insurance (10-Year, 20-Year, Juvenile Term to Age 30), endowment policies, fixed deferred and immediate annuities including Multi-Year Guaranteed Annuities (MYGAs), Traditional/Roth/SEP IRAs, and Coverdell Education Savings Accounts. Members also receive access to a pharmacy and medical discount program (NDN Savings), scholarships, Ukrainian-themed Christmas cards, and two newspapers — Svoboda (Ukrainian language) and The Ukrainian Weekly (English language).

Revenue is generated primarily through recurring life insurance premiums and annuity contributions, supplemented by net investment income of $8.5M on a $21.5M total income base (2022); admitted assets stand at $180.9M with policy reserves of $162.7M and gross surplus of $11.9M. Distribution is conducted via a branch-secretary field network across the US and Canada and a home-office inside-sales team reachable in both English and Ukrainian; premium payments are accepted via credit card (ePayPolicy), eCheck/ACH, and paper channels. UNA is governed by a Corporate Board of Directors established in 2022, following a transition from its prior General Assembly structure driven by regulatory changes between 2008 and 2018. The related Ukrainian National Foundation (UNF), a 501(c)(3) entity incorporated in 1992, holds the Soyuzivka Heritage Center and operates the annual Ukrainian Cultural Festival as a cultural complement to UNA's financial mission. There is no parent company, no venture funding, and no public listing; UNA operates as a mutual-style organization owned by its member-policyholders.

Name

Ukrainian National Association

Legal name

Ukrainian National Association, Inc.

Website

https://unainc.org

Company type

Private

Founded year

1894

Operating status

Operating

Headcount range

11–50 employees

Short description

The Ukrainian National Association (UNA) is a not-for-profit fraternal benefit society founded in 1894 that provides life insurance, annuities, IRAs, education savings, scholarships, and cultural programs to members of Ukrainian heritage across 15 US states and Canada from its Parsippany, NJ headquarters.

Ownership category

akta.pro rank

Headquarters

HQ city

Parsippany

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Life Insurance Premiums: UNA generates revenue through premium payments on permanent life insurance (Whole Life, Life Paid Up at Age 65, 20 Payment Plan Whole Life, Single Premium Whole Life) and term life insurance (10 Year Term, 20 Year Term, Juvenile Term to age 30) policies.
2. Annuity Premiums: Revenue from flexible premium fixed deferred annuities, single premium annuities, multi-year guaranteed annuities (MYGA), and single premium fixed immediate annuities. Premium payments earn interest and accumulate tax-deferred.
3. Endowment Policies: Endowment policies (Endowment at Age 18, 20 Year Endowment) combine life insurance protection with systematic savings, where premiums are payable until maturity and full face amount is paid at death or on maturity date.
4. Retirement Accounts (IRAs): Traditional IRA, Roth IRA, and Simplified Employee Pension (SEP) IRA products with tax-advantaged contribution and growth features.
5. Education Savings (Coverdell ESA): Coverdell Education Savings Account allowing after-tax contributions up to $2,000 per child annually with tax-free growth for qualified educational expenses.
6. Christmas Cards: Sale of Ukrainian-themed Christmas cards as a member benefit. Suggested donation of $35 for one box of 10 cards, with additional boxes at $25 each.
7. Savings Program Membership: Discount program offering pharmacy savings (average 55% on generics, 15% on brand-name drugs), dental and vision savings, and other medical discounts. This is a discount program, not insurance.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

UNA is a not-for-profit fraternal benefit society that sells life insurance (Whole Life, Life Paid Up at 65, 20 Payment Plan Whole Life, Single Premium Whole Life, 10-Year Term, 20-Year Term, Juvenile Term to Age 30), endowment policies (Endowment at Age 18, 20-Year Endowment), fixed annuities (Flexible Premium Deferred, Multi-Year Guaranteed, Single Premium Immediate), IRAs (Traditional, Roth, SEP), and Coverdell Education Savings Accounts to members of the Ukrainian diaspora in the U.S. and Canada. It also operates a discount program (pharmacy, dental, vision, hearing) and publishes two Ukrainian newspapers (Svoboda and The Ukrainian Weekly).

Product overview

The Ukrainian National Association (UNA) is a fraternal benefit society offering a comprehensive portfolio of life insurance, annuity, and retirement products, along with member benefits and cultural publications. The core insurance offerings include permanent life insurance products (Whole Life, Life Paid Up at Age 65, 20 Payment Plan Whole Life, Single Premium Whole Life) and term life insurance (10-Year, 20-Year, Juvenile Term to Age 30), plus endowments (Endowment at Age 18, 20-Year Endowment). Retirement products include Flexible Premium Fixed Deferred Annuities (5, 7, 9-year terms), Multi-Year Guaranteed Annuities (MYGA), Single Premium Fixed Immediate Annuities, Traditional IRAs, Roth IRAs, SEP IRAs, and Coverdell Education Savings Accounts. The UNA also offers member discount programs (Walk-in Pharmacy, PlatinumRx Plus, Rx Mail-Order), scholarship programs, Christmas cards, and publishes two newspapers (Svoboda in Ukrainian and The Ukrainian Weekly in English).

Differentiator

Problem solved

Functional benefit

Brands

• Svoboda: Ukrainian language newspaper published by UNA
• The Ukrainian Weekly

Products and services

• Whole Life Insurance Permanent life insurance protecting for the insured's entire life with cash value accumulation and guaranteed payout upon death; issued ages 0-85 with a minimum face amount of $5,000.
• Life Paid Up at Age 65 Permanent insurance where premiums are payable until age 65, after which no further payments are due but cash value continues to accumulate.
• 20 Payment Plan Whole Life Whole life insurance requiring 20 annual premium payments, after which the policy is fully paid up.
• Single Premium Whole Life Life insurance purchased with a single premium payment providing coverage for the insured's entire life.
• 10 Year Term Life Insurance Term life insurance with minimum face amount of $50,000, issue age 18-70, and fixed premium rates for 10 years.
• 20 Year Term Life Insurance Term life insurance with fixed premium rates payable for 20 years, issued ages 18-60.
• Juvenile Term to Age 30 Term life insurance for children ages 0-20 with face amounts of $25,000 or $50,000; level death benefit and premiums to age 30.
• Endowment at Age 18 Combined life insurance and systematic savings policy for children ages 0-10, with premiums payable until age 18 and full face amount paid at death or maturity at age 18.
• 20 Year Endowment Endowment policy issued to ages 0-80 with premiums payable for 20 years, paying full face amount at death or end of the 20th year.
• Flexible Premium Fixed Deferred Annuity Fixed annuity allowing flexible contributions with tax-deferred growth and payout at a future date specified by the annuitant; available in 5, 7, and 9-year terms with decreasing surrender charges.
• Multi-Year Guaranteed Annuity (MYGA) Single premium fixed annuity with guaranteed interest rate locked in for the term; available in 3-year and 5-year terms (5-year MYGA minimum premium $10,000).
• Single Premium Fixed Immediate Annuity Single premium annuity that converts a deposit into immediate income payments beginning approximately one month after purchase.
• Traditional IRA Tax-advantaged retirement account where contributions may be tax-deductible, interest grows tax-deferred, with mandatory distributions beginning at age 73.
• Roth IRA Retirement account with non-tax-deductible contributions but tax-free growth and qualified withdrawals, with no mandatory distribution age.
• Simplified Employee Pension (SEP) IRA Retirement plan for self-employed individuals and small business owners with IRS-based contribution limits and tax deductions.
• Coverdell Education Savings Account (ESA) After-tax education savings account allowing up to $2,000 in annual contributions per child with tax-free growth for qualified educational expenses until age 30.
• UNA Savings Program Member discount program offering pharmacy, dental, vision, hearing, and veterinary savings; not insurance, but delivered via NDN Savings network (Walk-in Pharmacy, PlatinumRx Plus, Rx Mail-in Order).
• UNA Scholarships Scholarship program for student UNA members including named scholarships (Galandiuk, Bilous, Jarosewycz, Slevinsky, Hawrysz, Demidenko) and Heritage Scholarships.
• UNA Christmas Cards Ukrainian-themed Christmas cards sold in boxes of 10 cards, designed by Ukrainian artists Iryna Korchuk and Volodymyr Petryshyn; one box $35, two boxes $60, three boxes $85.
• Svoboda Publication Ukrainian-language newspaper published by UNA, available via subscription; received the Antonovych Prize in 2021.
• The Ukrainian Weekly English-language Ukrainian newspaper published by UNA, available via subscription.

Quantifiable outcome

• Assets of $107.05 per $100 in liabilities vs. industry average of $47.54
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Soyuzivka Heritage CentercoreStrategic or Co-development Partner · 1 January 2015Soyuzivka, purchased by UNA in 1952, was transferred to UNF ownership in January 2015. It serves as the primary venue for UNA's annual Ukrainian Cultural Festival and other community events. Located in Kerhonkson, NY.
• Ukrainian National Foundation (UNF)coreStrategic or Co-development PartnerUNF is a 501(c)(3) nonprofit charitable foundation incorporated by UNA in New Jersey in August 1992. It owns the Soyuzivka Heritage Center and promotes Ukrainian cultural heritage. Three members of UNA's Corporate Board of Directors serve on the UNF Board.
• Self Reliance New York Federal Credit UnionminorOthersCredit union that has donated $10,000 to UNA publications and provides financial support for Soyuzivka. Leadership has served on UNF Board.
• SUMA Federal Credit UnionminorOthersUkrainian credit union represented at UNF gala events with financial contributions to Soyuzivka.
• Nova UA Federal Credit UnionminorOthersUkrainian credit union represented at UNF gala events with financial contributions to Soyuzivka.
• Ukrainian Federal Credit UnionminorOthersRochester-headquartered credit union that provided financial support for Soyuzivka Heritage Center.
• National University of Ostroh AcademyminorStrategic or Co-development PartnerUkrainian university founded in 1576; UNA supports fundraising efforts and Mr. Hirniak received award from this institution's representative.
• Standard Analytical Service, Inc.minorOthersIndependent analytical firm that prepared comparative financial analysis of UNA vs. 25 leading U.S. life insurance companies as of December 31, 2022.
• Vasyl Stefanyk Scientific Library of the National Academy of Sciences of UkraineminorStrategic or Co-development PartnerLviv-based library for which UNF has approved funding and promoted fundraising efforts.
• Ukrainian Congress Committee of AmericaminorStrategic or Co-development PartnerOrganization where former UNA President Stefan Kaczaraj served as chairman of the National Council (Krayova Rada) since 2004.
• Ukrainian Institute of AmericaminorStrategic or Co-development PartnerCultural institution where former UNA President Stefan Kaczaraj was an active member.
• Ukrainian MuseumminorStrategic or Co-development PartnerCultural museum where former UNA President Stefan Kaczaraj was an active member and board member.

Scale indicators12 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Royal Neighbors of America: Fraternal benefit society providing life insurance and annuities to members, sharing UNA's member-owned, community-anchored fraternal model.
• Knights of Columbus: Catholic fraternal benefit society offering permanent and term life insurance, annuities, and member benefits through a parish-based branch network — the closest analog to UNA's community-fraternal insurance model.
• Gleaner Life Insurance Society: Fraternal benefit society offering whole and term life insurance plus annuities to members, with a similar small-scale, community-based operating profile as UNA.
• Modern Woodmen of America: Fraternal benefit society providing life insurance, annuities, and retirement products to members via a local-representative distribution model, comparable in structure and product mix to UNA.
• Polish National Alliance: Ethnic fraternal benefit society serving Polish-Americans with life insurance, annuities, and cultural programs — directly comparable to UNA's Ukrainian-American fraternal model.
• Western Fraternal Life Association: Fraternal benefit society offering life insurance and annuities to members of participating fraternal lodges, similar in scale and community-based distribution to UNA.
• WoodmenLife (Woodmen of the World): Fraternal benefit society offering whole life and term life insurance, annuities, and member benefits, with a comparable not-for-profit, member-owned structure to UNA.
• Thrivent Financial: Fraternal membership organization offering life insurance, annuities, and retirement products to members, comparable to UNA's fraternal benefits society structure and product breadth.
• Independent Order of Foresters (Foresters Financial): Fraternal benefit society offering whole life insurance, annuities, and member benefits including scholarships and community programs, similar to UNA's fraternal value proposition.

Others

• Assured Guaranty (Municipal Assurance Corp.): Specialty insurance carrier offering life/financial products adjacent to the fraternal insurance space; included as a broader industry peer for capital allocation patterns rather than direct product overlap.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/UkrainianNationalAssociation
• Instagraminstagram.com/ukrainiannationalassociation
• Xx.com/UNA_1894
• LinkedInlinkedin.com/company/unainc

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ukrainian National Association