Often, churches have funds set aside for certain purposes. It may be deposits collected for an overseas mission trip, funds that are being collected to buy a new church van, or maybe it’s just the church ’emergency’ fund.
Whatever it is, if your church has significant cash balances, we have an account that gives churches the ability to keep the money in a flexible savings account yielding a full 1.00% APY– above what most other financial institutions are paying. The church reserve account provides an effective tool for growing cash reserves without the restrictions of certificates.
The Church Reserve Account is:
- Federally insured
- Can have a balance of up to $250,000
- Allows for one withdrawal per quarter
- Requires a minimum balance of $25,000