United Methodist Credit Union offers churches ways to save
The United Methodist Credit Union is pleased to be a financial resource for the church members and churches of the Western North Carolina Conference. Here are just a couple of ways we can help churches grow their savings or cut loan expenses.
- First, if a church has significant cash balances (earning nearly nothing), we can help them with something we’ve created just for United Methodist churches in the conferences we serve. We call it the Church Reserve Account, and it gives a church the ability to keep money in a flexible savings account yielding a full 1.00% APY – far above what banks are paying. The account is federally-insured, can have a balance of up to $250,000, and allows for one withdrawal per quarter. More information can be found at www.tumcu.org\churchreserve or by calling us at (866) 657-0004. The Church Reserve Account could add as much as an extra $2,500 to a church’s resources each and every year.
- Second, if any church is looking to cut loan expenses – The United Methodist Credit Union stands ready to refinance a church’s existing unsecured loan (up to $50,000), at a rate 2% less than their current rate (down to our minimum of 4.25% APR ), and we can do so with very little paperwork and very little time. Also, keep in mind, that we finance larger church loans on a limited basis and may be able to help churches with these types of loans as well. Either way, we just want to help churches, and we’re proud to do so. Contact Mike Haydon at (866) 657-0004 with any questions or details on how to apply.
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