The Development Fund is a savings and loan fund that was established by the Foundation in 1976.  It exists to help Florida United Methodist Churches, agencies and missions have a reliable, readily available and affordable source of loan funds to support building and maintenance efforts.

Any Florida resident, United Methodist Church or related church organization can open a participation (savings) account with a minimum investment of $100.  The participation account pays a fixed rate of interest that is set by the Board of Directors on a quarterly basis. Current interest rates are posted on the Foundation Website Home Page.  Investment rates are typically higher than those available from banks or other financial institutions, and are available “on demand.”  Balances are reported quarterly.

The Foundation uses the accumulated assets to fund low-interest loans to churches for new construction, expansion and major renovations.  The interest rate for loans also is adjusted quarterly, and is traditionally lower than comparable commercial rates.  Total assets in the fund are currently at $80 million. 

View a history of Development Fund Rates.

 Note: Adobe Acrobat's Reader is required to view this document.