Investments or Loans: UCC Cornerstone Fund Programs can Benefit CHHSM Members

A common dilemma faced by many nonprofit organizations — including CHHSM members — is how to invest funds in a manner consistent with the mission, vision and goals of the organization. CHHSM partner the UCC Cornerstone Fund is one option to consider.

The Cornerstone Fund is unique in that an organization’s investments earn competitive interest while at the same time supporting other UCC-related organizations and ministries. Additionally, CHHSM members also can borrow from the Cornerstone Fund for building improvements.

“The Cornerstone Fund is the best option [for CHHSM members] for a variety of reasons,” says Maria C. Coyne, president and CEO. “First and foremost, we understand CHHSM organizations’ needs, as the only organizations we serve are churches and other faith-based entities and not-for-profits. Secondly, we are not a commercial bank and have a great deal of flexibility to work with our borrowers on customized solutions — especially if you hit a snag.”

But Coyne says the greatest benefit of working with the Cornerstone Fund is the give back. “Most importantly, you know that your investments are not only getting a great return, but also are being used to help build community,” she says.

On the investment side, the Cornerstone Fund offers Flexible Demand  and Flexible Demand Plus Notes accounts as well as Term Notes. Investments help the Cornerstone Fund offer low-cost loans to other ministries and not-for-profit organizations.

Cornerstone also has a Giving Bonus Program, where a five-year investment of at least $10,000 includes the option to designate a “give-back” gift of at least 10 percent to any UCC ministry or organization, including CHHSM members.

Over the years, many CHHSM members have invested or borrowed from the Cornerstone Fund. One example is CHAMP Homes in Hyannis, Mass. CHAMP turned to the Cornerstone Fund to secure a line of credit when local banks weren’t willing to take the risk. This allowed CHAMP to survive a “lean season” of donations and keep its doors open to Hyannis-area people experiencing homelessness.

“We have had the privilege of serving many CHHSM organizations over the years — both for investments and loans,” Coyne says. “We are proud of the partnership we have with CHHSM.”

As a partner in ministry, Cornerstone Fund staff also have benefited from CHHSM. “Our leadership team had the privilege of attending the Nollau Leadership Institute and have formed bonding personal relationships with many of your organization’s leaders,” she adds. “Our Board of Directors’ secretary and audit chair is Brian Magnone, vice president of treasury at Retirement Housing Foundation.”

Coyne says that CHHSM members interested in exploring the Cornerstone Fund’s offerings can access resources online or via a call or email.

“I think it’s safe to say the the Cornerstone Fund and CHHSM are partners in faith-based ministry, and are working together to building community,” Coyne says.