The Development Fund is a common fund that makes low-interest construction and mortgage loans to churches.  According to Foundation policy, up to 90 percent of the total Fund can be invested in church mortgages.  A reserve fund consisting of $1.5 million plus approximately ten percent of the Fund is held in the form of cash and cash equivalents in order to provide a level of liquidity to participation account investors.  The Foundation invests these funds in such instruments as government-backed money market funds, government securities, federally insured bank certificates of deposit or bank deposits.  Participation accounts are redeemable upon written notice to the Foundation by the holder of the participation account.  When submitting a withdrawal request, please allow a minimum of at least two business days from receipt for processing.  Interest rates and policies regarding level of liquidity and other management guidelines are made at the discretion of the Board of Directors.  Interest rates are reviewed quarterly.