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What's New

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Interest rates to decrease effective January 1, 2008

In response to the decrease in interest rates in the market place and the expectation that the full effect of the rate cuts by the Federal Reserve are yet to come, the Board of Directors at it's November meeting authorized rate decreases for an average of approximately one half of one percent (.50%).  This decrease affects both the rates paid to the investors and charged to the borrowers.  To view the new investment rates, first go to the Loan Fund Investment Options page by clicking here and then select your state of residence.

Foundation installs document management system

Presently the Foundation maintains its records in paper files stored both on and off site.  When the off site location became unavailable, the Foundation staff looked at other options.  After developing a new records retention policy to accommodate all legal requirements and good practices for the benefit of donors, investors and borrowers, the Foundation purchased and installed the necessary equipment to store all records in an electronic format.   The process of scanning and indexing all closed account files and historical financial records has begun and should be completed sometime in 2008.  Going forward, all new files will be created and maintained electronically.  This system will solve the physical space issue and provide search and access benefits.  

Foundation increases third party administrative services

Beginning January 2007, the Foundation will increase the third party administrative services provided to the Brethren in Christ Pension Fund.  This program, sponsored by the Brethren in Christ Church, offers pastors and employees retirement income accounts and certain other retirement benefits for pastors.  The Foundation's CEO, Elvin Peifer will assume the role of Plan Administrator, Joleen Brubaker the role of  Administrative Officer and David Strausser the role of Investment Officer.  The Foundation is committed to assisting the church with this important task.

IRA and HSA Account holders gain web access January 1, 2007

Beginning January 1, 2007 investors with Individual Retirement Accounts (IRAs) and Health Savings Accounts (HSAs) will be able to access their accounts on line.  Account history and current balances (holdings) will be available.  Requests for withdrawals will still be received on the Foundation's recorded line.  For account setup and a temporary password please contact Dave Strausser, Trust Officer.  Please click here for contact information or call (717) 796-4788.

Interest rates to increase effective January 1, 2007

Core to the ministry of the Brotherhood Loan Fund are the investors who buy the debt securities offered to fund the loans made to churches, pastors and church organizations.  Seeking to provide a fair rate of return to these investors the Board of Directors at it's November meeting authorized rate increases for an average of approximately three quarters of one percent (.75%).  To support this increase the board also increased the rates applied to the outstanding loans by approximately three quarters of one percent (.75%).  To view the new investment rates, first go to the Loan Fund Investment Options page by clicking here and then select your state of residence.

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Last Modified on May 27, 2008 | Brethren in Christ Foundation, Inc. All rights reserved.