As the priest explained to a small group of men at a meeting in the basement of St. Mary's Church in October 1881, his purpose in calling them together was manifold: to help Catholic men remain steadfast in their faith through mutual encouragement: to promote closer ties of fraternity among them: and to set up an elementary system of insurance sot hat the widows and children of members in the group who might die would not find themselves in dire financial straits.

The founder and first officers of the fledgling organization chose the name "Knights of Columbus" because they felt that, as a Catholic group, it should relate to Christopher Columbus, the Catholic discoverer of America. This would emphasize that it was Catholic who discovered, explored, and colonized the North American continent. At the same time "Knights" would signify that the membership embodied knightly ideals of spirituality and service to Church, country and fellowman.