St. Marys UMC Does All the Good It Can!
Since 1799, St. Marys UMC has taken to heart John Wesley’s principle: “Do all the good you can. By all the means you can. In all the ways you can. In all the places you can. At all the times you can. To all the people you can. As long as ever you can.”
When St. Marys UMC received a legacy gift of $60 million from late member Warren Bailey, the congregation’s response was one of spiritual maturity. They created a modest endowment fund to benefit the church, promptly gave away over $16 million, and then used the remainder to establish the St. Marys UMC Foundation, which supports worthy causes.
This same spirit of Christian stewardship carries over into its investment practices.
Jim Lomis’ 30 years in the banking industry naturally led him to volunteer as finance chair at St. Marys UMC. “We had money invested in local banks and were looking for a higher return. After researching other alternatives, we discovered there is almost a 1 percent spread between what we could earn through the Georgia United Methodist Foundation's Certificate Program versus a traditional bank CD,” he said. “The more we can earn, the farther it goes, and the more good we can do. This investment also allows other Methodist churches to borrow money from the Foundation’s Loan Fund at a lower interest rate.”
St. Marys UMC has invested in four interest-bearing certificates with terms of 1-year each.
“Although our investments are not insured by the FDIC, we are comfortable that the Foundation and board of trustees are being responsible with the money and not taking any undue risk,” Jim said. “We believe in the Methodist Church and also appreciate that our funds are invested in socially responsible ways that do not violate our guiding principles.”
This article was originally published in the Fall 2014 edition of Faith & Money, a publication of the Georgia United Methodist Foundation.