Christian Community Credit Union has a promotion for deposit certificates (CDs) for churches called a Church Builder Certificate which offers a pretty good rate. Here is the link http://www.mycccu.com/ministry/
I talk to churches all the time that are interested in purchasing a new sanctuary to hold services. In my conversations with the pastors many do not know what is required to successfully purchase a building and unfortunately several are unrealistic in their expectations. To purchase a building the church needs to have at least 20% - 30% of their own funds. Church lenders want to see that the church has saved this cash as their contribution towards the purchase. If a church wants to purchase a building that costs $500,000, the church needs between $100,000 - $150,000 for a down payment. That will be in addition to enough funds for closing.
If you are reading this then you are amongst some of the first to visit my blog. I have great plans for this blog - I hope that it will be a blessing to all that read. My goal is to bring useful and educational information to churches and ministries. Tips and resources related to administration and finance. So, please post comments and feel free to give suggestions.
God Bless,
Annena
