Loan Repaid. Legacy Renewed.

Written for AGBU Impact Magazine 2025 by Alik Kandaharian. Photography by Matthew Bender.

He was just a student at Montclair State University in New Jersey when Gregory Maroukian, ever the businessman, asked to borrow $400 from the Armenian General Benevolent Union (AGBU) to help with college expenses. Little did he know that one day he would become a generous donor to the AGBU Global Relief Fund, renewing a family tradition for giving back.

Maroukian explains: “I am proud to be Armenian, and am drawn to support Armenian causes through a trusted organization like AGBU, especially when Armenians are in peril.” He credits his friend Errol Karakashian for his guidance on how to donate in a meaningful way. He adds that he feels fortunate to be in a position to renew a family tradition of giving back.

In 1986, with a degree in Business Administration and minor in Economics, Maroukian started his own company Precision Escalator Products against all the challenges. He was just 26 years old. He’s grown the company from not only a supplier but also a manufacturer. Today, the company employs over 100 people, and operates out of two locations, Kenilworth and Livingston, New Jersey. Maroukian mentions that he received the opportunity in the elevator industry through Doug Tashjian. The two met through AGBU basketball.

In addition to supporting global initiatives and relief efforts, Maroukian remains deeply connected to local community life, particularly through his ongoing support for AGBU Camp Nubar.

I am proud to be Armenian, and am drawn to support Armenian causes through a trusted organization like AGBU.

When he became a father of two girls, he made what he calls one of the best decisions of his life: to send them to Camp Nubar, located in the Catskill Mountains of New York State. Though his siblings had attended years before, he himself missed the opportunity. Today, his daughters, Brielle (14) and Alexis (17), are deeply connected to it. He recalls the day he signed up his daughter Alexis for camp. “We were having dinner with friends, and my friends mentioned that their daughter was going to Camp Nubar that summer. Alexis overheard and said, ‘If she’s going, I’m going’. I jumped out of my chair, ran to the computer, and signed her up right there and then. They have been going for nearly a decade,” adding that both daughters are devoted campers with friends whom they speak with regularly.

He cherishes the memories of seeing their faces full of joy and happiness every time they returned from camp. They would spend hours and hours sharing their stories and adventures. What he values most is the camp’s no-cellphone policy, which allows the kids to truly connect with one another and with nature.

Maroukian is also deeply moved by the community spirit surrounding the camp. “What amazes me is how parents who went to Camp Nubar are still close like family. They hang out all the time. I really admire that connection.”

Reflecting on AGBU’s role in his life, Maroukian emphasizes the lasting friendships and deep community ties the organization fosters. He shares a story of unexpectedly running into an old friend at a deli near his beach house. “We hadn’t seen each other in 25 years, but we used to play basketball through AGBU Sports. Turns out, we both had 9-year-old daughters at the time. We reconnected instantly, reminiscing about the old days and watching our daughters build their own memories through AGBU.”

A $400 loan may have helped him through college, but today, Gregory Maroukian is repaying that support many times over with gratitude and consistency.