FAQs

Can I add money to a term certificate before it reaches maturity?

For term certificates, an investor can add money to the certificate at the maturity date only. New investment certificates can be purchased at any time. For flexible certificates, an investor can add money to the certificate at any time by completing an additional investment form and sending a check made out to “Free Methodist Loan Fund.”

Who sets the current interest rates?

Our Loan Fund committee reviews market interest rates monthly and adjusts interest rates to ensure that they are attractive to investors. The Free Methodist Foundation Board of Directors also reviews interest rates on a regular basis.

Will I be notified when my term certificate is maturing?

Thirty days before your term certificate matures a rollover investment application will be sent for you to indicate what you want done with your matured certificate. You may roll the matured certificate into a new term or flexible certificate, or you may request redemption at maturity.

How do I redeem a portion or all of my flexible certificate?

Redemption requests need to be made in writing. You may mail, fax or e-mail the request (e-mail is only acceptable for requests under $10,000). Redemption requests are usually processed within 2 business days. In an emergency situation, funds can be electronically transferred directly into your bank account or the check can be delivered via overnight mail.

What is the difference between a flexible certificate and a term certificate?

Flexible certificates do not have a set term. You may make investments or redemptions at any time. Because of this liquidity, interest rates offered on flexible certificates are generally lower than those offered on term certificates. The interest rate on your flexible certificate will fluctuate over the life of the certificate. Term certificates have a set term (i.e., 12 months, 24 months, or 60 months). The interest rate on your term certificate is fixed for the life of the certificate.

How do I designate beneficiaries for my investment certificate?

Certificate beneficiaries can be made when the investment application is filled out, or by a written request.

Current Rates

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investment

minimum

APY

APR

flexible

none

1.85%

1.83%

1 year

$5,000

2.35%

2.32%

2 year

$5,000

2.75%

2.71%

5 year

$5,000

3.75%

3.68%

*APY: Annual Percentage Yield/ APR: Annual Percentage Rate  Interest on all certificates accrues daily.  A statement is provided each quarter reflecting the principal and accrued interest of each certificate.

Items to Download

Below are forms, applications and various items for your download and use.  Please contact us if you have any questions.

 

Investment certificates are unsecured general debt obligations of The Free Methodist Foundation. Investment is subject to risks, which are described in our Offering Circular, including: • no sinking fund • no trust indenture • no FMCNA guarantee • not FDIC or SIPC insured • not bank deposits or bank obligations • no public market • reinvestment rates may change • loans may be secured by special purpose property • borrowers may be dependent on contributions for loan repayment. This is not an offer to sell you our securities and we are not soliciting you to buy our securities. The offer is made solely by the Offering Circular. We will offer and sell our securities only in states where authorized.