Anyone Heard Anything About Wesleyan Investment Foundation

Anonymous | Feb 27, 2010 | 824 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?

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me1004 | Feb 27, 2010 | 1,379 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.

Ray Wahl | Jan 20, 2016 | 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.

Ricochet | Sep 10, 2015 | 522 posts since 2010

Churches have been scammed before.
Investors have to have "faith" in the firm doing the deal.

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