Helping Clergy with financial well-being so they can focus on their ministries
Clergy Assist
The United Methodist Credit Union’s ClergyAssist program was created with our primary mission in mind – helping clergy and their ministries.
When TUMCU was founded in 1952, only clergy could become members. It was recognized that clergy had very unique financial challenges – not the least of which was securing credit. Most pastors had relatively low earnings (that looked even lower with housing allowances), they rarely owned a home, and moved frequently. No wonder that clergy had a hard time getting a loan. We understand these challenges and are here to help.
A burden of debt can impact peace of mind, and in turn, the capacity to serve.
In order to apply for lending services, pastors must first become TUMCU members. That part is easy and free, and that can be done using this link > https://www.tumcu.org/join/. Once you’re a member, the ClergyAssist program can provide assistance for both active and retired clergy.
TUMCU has many loan options – including car loans, HELOCs, mortgages, student lending, and even adoption loans. And many of these loans have rate discounts for clergy members!
As to personal loans for clergy, you can apply for any of the following options using the buttons beneath each description.
Emergency Loans
Sometimes, life happens, and funds are needed immediately and without the need for a lot of paperwork and processing. If you need funds like this, we can make any active or retired clergy a one-year loan of up to $3,000 without a credit check.
The interest rate is 10.00% and the loan can be repaid by automatic deduction from a TUMCU account, payroll deduction (if available), or by scheduled transfers from another institution.
Funds can be made available as soon as one business day. We can deposit the loan proceeds in your account here, transfer it to another credit union or bank, or even send out a check (to you or a third party).
If you need funds right away, TUMCU’s Emergency Loan might be a good option!
Signature Loans
If your needs are larger than those that can be served by our Emergency Loans, or you would like to see if you can borrow money at a lower rate, pastors are invited to apply for a signature loan (with a discount for clergy). These loans can be used for any purpose and can be repaid over a longer period of time – anywhere from one to five years.
And depending on your credit, you could qualify for as much as a $25,000 loan and a rate as low as 8.99%.
There is no fee to apply for a Signature Loan, and you can repay the loan at any time without penalty.
Special Loan Program
Thanks to a grant from the Lilly Foundation and made available through Wespath, TUMCU can offer qualifying United Methodist clergy loans of up to $25,000 at the rate of only 5.75%!
This is a limited time opportunity, and since there is a maximum amount of loans of this type we can make – it’s important to apply as soon as possible.
Because of the ultra-low rate, the requirements for this loan beyond a satisfactory credit profile include:
1. The borrower must remain in good standing with their Conference during the life of the loan.
2. Loan repayment must be done through automated transfer from a TUMCU Secured Checking Account ($5 monthly and includes identity theft protection and other features).
3. The borrower must participate in the free financial education program specified for this program within 90 days (note: all program content is online and can be completed independently at your convenience).
Equal Housing Lender - We do business in accordance with the Federal Fair Housing Law and the Equal Housing Opportunity Act.
