Ken Seyfert, executive director of operations of the Grace Brethren Investment Foundation, Inc., the organization founded to help church-planting and gospel expansion efforts in the Fellowship of Grace Brethren Churches (FGBC) by using investors’ funds, today issued this statement reassuring investors of the strength and safety of GBIF.
In light of current economic developments and failures of major financial institutions, we think it prudent to issue a note of reassurance to the entire GBIF family.
Fortunately, GBIF’s commitment to godly stewardship and a conservative approach to managing assets have helped us avoid problems in both the loan and investment arenas.
The year 2007 was a record for new loans and we have been very busy assisting local community ministries to expand and grow for Christ. Our FGBC church, school, and organizational borrowers are paying on time and, Lord willing, GBIF will close 2008 with another zero delinquency rate on loans outstanding.
Also, GBIF has experienced no losses through the investment of its reserves. These reserves represent any extra funds on deposit with us awaiting future projects. Nearly 90 percent of these funds are invested in FDIC (government insured) investments. Also, our current rate paid to investors—3.50 percent compounded daily—remains above the national average of savings rates across the USA.
Looking ahead with your prayer support, GBIF will remain steadfast in our commitment to facilitating God’s work in the Fellowship of Grace Brethren Churches and to godly management of the resources you have entrusted to us.
Thank you for your loyal partnership in this ministry.
Sincerely in His service,
Kenneth A. Seyfert
Executive Director of Operations
Grace Brethren Investment Foundation, Inc.
Winona Lake, Indiana