UMF Development Fund
Overview
The Development Fund provides an investment alternative for those who are seeking the security of a fixed income type vehicle at competitive rates. It is an excellent option for investors who like to invest in certificate of deposits or money market funds. It is the funding source of our Loan Program providing loans to United Methodist Churches and United Methodist institutions throughout North and South Carolina
Participation
Participation in the Development Fund is available to residents of North and South Carolina as well as United Methodist churches and institutions in North and South Carolina.
Invesment Particulars
- $1000 minimum investment – 12 month term (recommendation)
- No penalty for early withdrawal for special circumstances
- Simple Application Process – Must obtain an Offering Circular
- Variable rate of interest adjusted quarterly based on Wall Street Journal Prime
- No fixed rate is possible and there is no minimum rate of interest
2% (Effective as of July 1, 2010) Interest Rates for the UMF Development Fund |
Development Fund Related Link
