This year’s Annual Conference was anything but routine for a number of reasons, one of which was the Development Company’s special 4% Reserve Certificate. After months of teasers and finally the big announcement, conference attendees lined up early to turn in their completed applications or fill one out at the Development Company’s booth. Customer Service Representative […]
Due to the recent increase in interest rates by the Federal Reserve, the Virginia United Methodist Development Company announces the following new rates for Savings and Investment Certificates. These rates will be effective July 1, 2018. Savings Certificates: 1.5% Investment Certificates: 6 mos: 2.0% 12 mos: 2.7% 24 mos: 3.0% 36 mos: 3.2% 48 mos: […]
Annual Conference 2018 closed on Sunday, June 17 with appointments being read and sending preachers to their new assignments. The theme this year was “Servant Leaders Making A Difference.” The Conference theme came from 1 Peter 4:10, “Each of you should use whatever gift you have received to serve others, as faithful stewards of God’s […]
What is the special certificate that DevCo is offering at Annual Conference? The Virginia United Methodist Development Company, LLC (DevCo) will offer a special 6 Month, 4% Reserve Certificate during Annual Conference, June 15 – 17. How does this rate compares to other financial institutions? Typical rates for 6 Month CD’s range from 0.1% to 0.4%. What does this mean? An investment of $1,000 in DevCo’s 4% Reserve Certificate would pay […]
Often times, during the construction phase of a church project, many questions arise pertaining to the “construction loan draw process.” With understanding how a construction loan draw works, it’s important to first understand why the lender must follow the procedures and policies of the title company. In efforts of mitigating inherent risk of financial loss, […]
Pregunta: ¿Es la posicion en la Fundacion nueva? Respuesta: El Gerente de Relación de Servicios al Cliente se estableció en 2018 con el fin de satisfacer las necesidades de nuestros clientes. La Fundación de la iglesia Metodista Unida en la Virginia, ha experimentado un crecimiento incredible y vieron la necesidad de tener a alguien dedicado a […]
Virginia United Methodist Development Company (DEVCO) has a unique mission of serving Methodist churches throughout the Commonwealth of Virginia, by providing loans, to support their local communities. We see ourselves as a leader, in inspiring church leadership, to seek all of their opportunities when a lending need has been identified. DEVCO’s mission is to create […]
Question: Is your position new to the Foundation? Answer: The Client Services Relationship Manager was established in 2018 in order to meet the needs of our clients. The Virginia United Methodist Foundation has experienced an amazing amount of growth and they saw a need to have someone dedicated to serving their clients and investors. Question: Why […]
A church recently contacted us about refinancing a loan they had taken with a local bank less than 2 years ago. They were unhappy with the interest rate and the level of service they were receiving from the bank. As we reviewed the loan, we discovered that it contained a significant pre-payment penalty which essentially prevented […]
River Road United Methodist Church of Richmond, VA, recently concluded a successful capital campaign titled, “God’s House: Our Home”. In an interview, Pastor Darcey Johnson explained the benefits of working with the Development Company and the ministerial impact of its capital campaign. What made River Road UMC decide to work with DevCo for their capital […]