Featured Savings Rates
Featured Accounts

Anyone Heard Anything About Wesleyan Investment Foundation

Anonymous
Anonymous   |     |   2,263 posts since 2010

Anyone heard anything about Wesleyan Investment Foundation?  They are paying 2.5% up to $4999 and 3% on $5000 - 34999 -- it is not FDIC insured, but maybe worth looking at?



Answers
me1004
me1004   |     |   534 posts since 2010
Re Kathy #221. I just looked at the Web site. Still not clear to me just what kind of investment that is -- seems to be some sort of mortgage-backed securities. But regardless, it does not appear that it would be any safer than bonds in a particular company. And bonds will yield you more than Wesleyan's current savings rate. And frankly, I'm not sure it is even as safe as bonds. I'm not sure they will be getting even the inadequate oversight that bond -- or most mortgage -- issuers get.

If you don't mind giving up the safety of FDIC and NCUA accounts, there are plenty of other opportunities for the 3% or more that Wesleyan is offering.

Further, many people would want to consider that it is strictly to support the Wesleyan church.
Ricochet
Ricochet   |     |   216 posts since 2010
Churches have been scammed before.
Investors have to have "faith" in the firm doing the deal.
Curtis Brunt
Curtis Brunt   |     |   1 posts since 2015
me1004 says there are plenty of opportunities with interest rates better than WIF which is currently at 2.25%.  What are they other than stocks or bonds? Do you have immediate access to your funds like at WIF.  Are they FDIC or NCUA accounts -- WIF is not, but they have a long and reliable track record and they are faith based.  Feedback please

curtbrunt@gmail.com.
ChrisCD
ChrisCD   |     |   127 posts since 2010
Curtis, are you affiliated with WIF?  Your join date seems to coincide with this post.  I apologize if that is indeed just coincidence.  Our church (probably much smaller) has given members above market rates to fund various projects, so nothing wrong with that.  But those funds are backed by the tithes of the members and the assets that the church owns, not necessarily as liquid as a savings account or CD that can be closed early.  I would certainly do a ton of homework before pulling the trigger. 
Ray Wahl
Ray Wahl   |     |   1 posts since 2016
WIF is part of The Wesleyan Church headquartered in Indiana. It loans money to growing churches so they can expand their facilities. I talked with a representative yesterday and was told that they have not had one local church default on any of its payments.