When Faith and Finances Come Together

Making a change in investment strategy is never a simple undertaking. Yet for the Directors of the Raleigh, North Carolina-based United Methodist Foundation (UMF), the decision to invest in Self-Help Credit Union came easily.

Executive Director Lynn James explains, “It happened pretty quickly because our board was discussing an income fund that had not met the needs of our churches or agencies. With Self-Help, we were happy to discover that we could have a money market style of investment, with attractive interest rates, and be socially responsible.”

UMF provides investment management services for the North Carolina Conference and more than 300 partner churches and agencies in the eastern half of the state. With assets of $85 million, UMF follows the guidance of the Social Principles of the United Methodist Church, which encourages socially responsible investing. In January of 2007, UMF began offering a new socially responsible investment option to its partners: a Short-Term Income Fund managed by Self-Help Credit Union.

UMF’s James notes other good reasons for establishing a relationship with Self-Help. “We have for years wanted and sought partnership in the community. Methodists are socially active. When we connect with organizations like Self-Help, it gives us energy! This is part of the reason our board was motivated to think outside the box.”

Deposits from the faith community have been an essential source of support ever since Self-Help Credit Union’s founding in 1983. Today, 12% of Self-Help’s core deposits come from faith-based organizations, a significant amount by any measure.

Pictured above: Lynn James, Steve Taylor, and Rev. Jim Mentzer