The Knights was formed to render financial aid to members and their families. Mutual aid and assistance are offered to sick, disabled and needy members and their families. Social and intellectual fellowship is promoted among members and their families through educational, charitable, religious, social welfare, war relief and public relief works.

The history of the Order shows how the foresight of Father Michael J. McGivney, whose cause for sainthood is being investigated by the Vatican, brought about what has become the world's foremost Catholic fraternal benefit society. The Order has helped families obtain economic security and stability through its life insurance, annuity and long-term care programs, and has contributed time and energy worldwide to service in communities.