Should the church support their local bank?

From time to time I work with a church that is tired of low CD and savings rates. I remember back in 2008 when CD rates were at 3% and thinking, “Surely these rates can’t get any lower.” I said the same thing when the rates dropped to 2%…and then 1%. I just renewed a CD the other day for 0.4%! CD rates have been horrible for 13 years…a guaranteed loss against inflation. CD’s are a very poor choice for a long-term investment in my mind.

That was my default mindset. I’ve had some really good conversations in recent weeks to help me understand how loyalty can factor into the decision of whether to keep the church’s money in the local bank. In the video, I walk through the math, but I think the better question churches should be asking is, “If I had a blank check, how could I best bless my community?”


Useful Links

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: