We are “Methodists Helping Other Methodists!”
The Virginia United Methodist Development Company (“DevCo”) exalts Christ as a wholly owned subsidiary of the Virginia United Methodist Foundation. The Foundation is a supporting organization of the Virginia Annual Conference of the United Methodist Church. Both the Foundation and DevCo share a common staff and a common mission for ministry. DevCo fulfills its mission by providing funding for churches to a) purchase land, b) build new structures, c) accomplish major renovations or expansions, and d) refinance current debt. Additionally, we consult with church leaders about investments, loans and stewardship.
Founded in 2014, DevCo takes deposits – similar to CD’s but with much better interest rates – from United Methodist churches and members, and people with United Methodist affiliation in the Virginia Conference. After setting aside 10% as a reserve, the deposits are loaned to churches at better rates than normally available. All such loans are only for capital improvements for local churches or church-related entities within the Commonwealth of Virginia – not for church operations or personal credit. The Development Company has over $40M of assets under management. We currently have over 50 loans completed or in process, ranging in size from $100K – $13M, and totaling over $37M.
When you make an investment with DevCo, you not only earn an excellent return on your money, you are making a missional investment – providing a church the opportunity to buy an adjacent piece of property for additional parking, build of a new sanctuary, open a pre-school in an underserved community, reroof a parsonage, or save the church thousands of dollars by refinancing its mortgage. By lowering the cost of doing these kinds of things, a church can redirect funds to the community to “open hearts, open minds, and open doors” … and it’s all made possible by your investment!