The Development Fund
The United Methodist Development Fund of Tennessee/Kentucky, Inc.
How the Fund Works:
The United Methodist Development Fund of Tennessee/Kentucky, Inc. accepts investments from individuals, churches and organizations from both annual conferences. The fund pays these investors a set rate of interest. Then the Fund makes loans to churches, agencies and missions within the Conferences. The interest paid to investors is usually as high or higher than they could get with a similar investment in a commercial bank or money market. The interest paid by churches that have borrowed money is usually as low or lower than they would be charged by commercial lenders. Since the Fund is a non-profit, service organization, the goal is not to make money from this transaction but rather to bring investors and borrowers together in the most efficient and effective way for the benefit of God's work through the Church.
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The Development Fund's current rate (set July 1, 2008) on deposited funds is: 2.75% The Development Fund's loan rate is 6% with a two-year balloon or 6% interest only with a one-year balloon.
Call Tiffany Raines at 615-259-2066 for more information.
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