Christian Associates, Inc. was established in 1976 as an ecumenical ministry in Huntington, West Virginia, whose purpose is to combine the efforts and resources of the downtown churches in Huntington to serve the poor in their community.
The organization supports the Cridlin Food & Clothing Pantry to provide immediate assistance with food and clothing to low income families and blankets and warm clothes to the homeless. People who qualify for help from Cridlin include low-income families who live in Cabell and Wayne counties.
From time to time the ministry has cash reserves in savings that are not garnering any investment return. Christian Associates' governing board invited Kim Matthews to make a presentation about how we could help them steward their resources.
In July, they started the Cridlin Food and Clothing Pantry Reserve Fund. The Fund is invested in our Investment Fund B2, which experienced a net return in 2019 of over 18%. While returns like that are not expected every year (the ten-year average is 6.34%), over time it is certainly a much better return than could be expected from a certificate of deposit or savings account.
With a custodial account at the Foundation, a church or ecumenical ministry such as a food pantry can receive its funds immediately upon request. We can send a check, transfer electronically through ACH, or wire transfer. At the same time, the custodial account is invested for reasonable growth.
Consider the possibilities of a custodial account at the United Methodist Foundation for your ministry’s reserves.