The Covenant of Service, expressing Exchange’s philosophy and ideals, was written in 1923 by Exchangite Thomas L. Bailey, who served as National President of Exchange from 1925 through 1927, and later served as Governor of Mississippi from 1944 through 1946. It was officially adopted by the organization in 1927.

Accepting the divine privilege of single and collective responsibility as life’s noblest gift, I covenant with my fellow Exchangites:

• To consecrate my best energies to the uplifting of Social, Religious, Political and Business ideals;
• To discharge the debt I owe to those of high and low estate who have served and sacrificed that the heritage of American citizenship might be mine;
• To honor and respect law, to serve my fellowmen, and to uphold the ideals and institutions of my Country;
• To implant the life-giving, society-building spirit of Service and Comradeship in my social and business relationships;
• To serve in Unity with those seeking better conditions, better understandings, and greater opportunities for all.