Christian Brothers Services | News Room: Press Releases

On Thursday, April 28, the North American branch of the Congregation of Christian Brothers,
also known as the Irish Christian Brothers, declared bankruptcy.

The Irish Christian Brothers are unrelated to Christian Brothers Services.

Several Chicago area news reports have incorrectly tied the bankruptcy to the De La Salle
Christian Brothers, the religious sponsor of Christian Brothers Services.

Christian Brothers Services remains financially sound. There is no related impact to any of the
trusts administered by Christian Brothers Services including employee benefits, retirement,
property/liability and religious.

About Christian Brothers Services
Christian Brothers Services is a nonprofit organization that administers cooperative programs in the areas of health/retirement, property/casualty and consulting/technology to church organizations. Founded in 1960 by Brother Joel Damian, FSC, Christian Brothers Services began as a mutual cooperative purchasing group for Chicago area high schools conducted by the De La Salle Christian Brothers. Under Brother Damian’s leadership, the Brothers realized that pooling the financial resources and risk exposures of the schools would allow both the congregation and the individual institutions greater financial strength and leverage to purchase better coverage, with higher limits, at significantly reduced costs; benefits that commercial insurance carriers could not offer nonprofit organizations. Over time, the company has grown to administer and serve 11 Trusts, which provide a variety of programs to congregations, organizations and dioceses both in the United States and Canada. Visit http://www.cbservices.org for more information.