We believe that God allows us to manage His resources for several reasons — to take care of our needs, to care for those who depend on us, and to find the most we can invest in His Kingdom work.
Providing for our needs often times planning and saving and may run the range from an Emergency Fund to retirement planning. BFI has worked carefully to provide investment options that both provide an acceptable rate of return, minimizes risk, and helps fuel Kingdom Growth. A new account application can be downloaded here. A more complete description of each account type is below.
All BFI accounts can be owned jointly or singly and a beneficiary form may be added for either an individual or charitable cause.
The Bank of Springfield gives us access to high yield cash management (currently 3/4% ) with full liquidity and 24 hour account access. BFI can also establish an ACH (Automated Clearing House) arrangement with your local bank for even faster access to your funds. A fee of .15% (15 basis points) is charged for this type of account.
BFI offers defined maturity bonds to support Illinois Baptist church capital projects. Their returns are:
BFI bonds are secured by a first position mortgage and a loan is never made for greater than 50% of the property value. Further, the loan payments may not receive 25% of a church’s unrestricted income. BFI bonds are sold in $1,000 increments and have been default free since its inception. Long term bonds may be held in either Roth or Traditional IRAs as well. Interest may be accumulated in cash management, distributed, or assigned to a charitable fund. BFI bond issue availability will be announced through our monthly newsletters and online. Below, check out a brief explanation of how BFI bonds work.
Our 2019 Bonds
- First Corinthians Missionary Baptist Church, Chicago IL
- St. James Baptist Church, Broadview IL
- North Side Baptist Church, Grayville IL
Longer Term Fixed Income Portfolio
An investment characterized by low risk fixed income assets (primarily high grade municipals, corporate or government bonds, and a limited amount of preferred stock), need a reliable income stream (or have the ability to reinvest), and do not anticipate needing a return of principal for an extended period of time, the Bank of Springfield provides a portfolio for BFI investors that has a current yield of 5-6%. Fees are .35% (35 basis points) for participation in this fund. LTFI funds may be a general post tax account or held in a Roth or Traditional IRA. Interest may be reinvested in the fund, distributed, or directed to a charitable giving account.
BOS/LPL Custodial Ind Long Term Fixed Income (Yield-Gross)
BFI Blended Fund
The Blended Fund seeks to increase income while still realizing the traditional long term appreciation of the U.S. equities market. 50% of the fund is in BFI’s LTFI Portfolio (see above). 50% is comprised of the SPAI, a publicly traded fund composed of 53 U.S. equities chosen by their increasing dividend yields for the last 25 years. The target yield for the Blended Fund is 7.5%. Fees are 50/100 of a percent (50 basis points) for sub $1,000,000 accounts and 35/100 of a percent (35 basis points) for accounts of $1,000,000 or greater.