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| DEVELOPMENT FUND LOANS & ACCOUNTS
The Alabama-West Florida United Methodist Development Fund, Inc. is a separate Conference organization. Established in 1984, it is the official Conference loan and deposit portfolio. First mortgage loans are made available to United Methodist churches and institutions for construction and major capital improvement projects. Loan terms are for up to fifteen (15) years. The loan rate is fixed for one year and subject to change on the anniversary date of the loan each year thereafter. Applicants are required to complete a loan application and follow certain guidelines as described in the application to be considered. As of 02/01/08, the current loan rate is 6.25%, with no points or closing costs charged by the Development Fund. Deposit accounts are available to United Methodist churches, organizations and church members. Accounts earn a variable rate of interest that is paid quarterly. Account holders have the option to receive a check or have the interest reinvested. Deposit accounts have no maturity date therefore account balances may be withdrawn by written request at any time. As of 02/01/08, the current deposit interest rate is 4.50%. Alabama-West Florida United Methodist Development Fund, Inc. Board of Directors
To obtain copies of the Development Fund Loan Instructions/Application or the Deposit Application, please click the corresponding link below. (These documents are in Microsoft Word format.)
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