Contact the Foundation
770.449.6726 or 877.220.5664Fax: 770.449.6680
E-mail: info@gumf.org
Savannah Office:
912.236.9266
First UMC of Pine Mountain Benefits from $1.2 Million Loan
Visitors to First UMC of Pine Mountain will receive a warm welcome and also discover a wealth of worship, outreach and Christian education opportunities. Earlier this year while members were ministering to their church and community, the church’s finance committee was busy researching loan rates and fees through local banks and the Georgia United Methodist Foundation.
In 2004, this 325-member church took out a 20-year loan to build a Christian Education Center. “The loan matured in October 2008, which necessitated the renegotiation of its interest rates,” said Frank Craft, the Foundation’s director of lending services. “They realized multiple benefits by refinancing their existing loan through the Foundation.”
Finance committee chairman Jack Story explains, “Although we’ve had a long relationship with a local bank, they couldn’t meet the low rate we were able to get through the Foundation. We were also able to avoid paying Georgia intangible taxes on the $1.2 million loan, which saved us several thousand dollars, because the Foundation is a nonprofit agency.”
Aside from financial incentives, there were other reasons First UMC of Pine Mountain chose to work with the Foundation. “Frank understands church financing, where we are in ministry, and all the requirements of The United Methodist Church,” Jack said. “Everything was done on schedule, and there were no problems or surprises.” In fact, the loan process was such a positive experience, First UMC of Pine Mountain anticipates taking out a second loan for renovations and repairs within the next six months.
Story was also pleased to learn Methodist investments in the Foundation’s Development Fund provided the source of funding that made their low-interest loan possible. “It just goes to show the benefit of the United Methodist connection,” he said. “We are a connectional church–working together to make disciples for Jesus Christ.”