CGF - Savings Certificates FAQ

Frequently Asked Questions

As a source of funding for loans, the CGF sells interest bearing investments called savings certificates. The CGF offers two types of savings certificates: term savings certificates and demand savings certificates.

What is the Church Growth Fund?
The Church Growth Fund (CGF) is a non-profit corporation established in 1958 that functions under the supervision of the RCA General Synod. The CGF makes affordable rate loans to RCA churches and related agencies for the purchase, construction, and improvement of buildings and other properties used in their ministries. Loans are funded by the sale of savings certificates, contributions, and CGF earnings. The CGF annually contributes a portion of its earnings to the General Synod Council, which awards the money as grants to new church plants.

What is a CGF Savings Certificate?
A CGF Savings Certificate is an interest bearing investment offered for fixed or flexible durations. Term Savings Certificates are offered from one to ten years with interest fixed to maturity. There is a $1,000 minimum initial investment. Demand Certificates have no maturity, a variable rate of interest, and the investor can add to or redeem from the certificate at any time. There is a $10,000 minimum balance requirement.

Why invest in CGF Savings Certificates?
An investor will enjoy a favorable rate of financial return and experience the satisfaction of knowing their money is being used for loans to help existing RCA churches expand and enhance their ministries while at the same time enabling the CGF to make grant funds available to new church plants.

Is a CGF Savings Certificate a secure investment?
Funds received from CGF Savings Certificates are used for loans to RCA churches. While the CGF cannot guarantee your investment in the same way as a bank, which is federally insured, we take great care in the selection of our borrowers and CGF loans are typically secured by first mortgages on property purchased or buildings constructed or improved with the loan funds. CGF borrowers demonstrate they have the resources to repay their loan and strict guidelines are used by the CGF to make sure congregations can sustain such loan payments. While past performance is no guarantee of future events, no CGF Savings Certificate investor has ever experienced a loss of investment or missed receiving an interest payment. The CGF has never experienced a loss of principal on any loan. Refer to the Offering Circular for more information.

Who is eligible to invest in CGF Savings Certificates?
In Arizona, California, Idaho, Indiana, Kentucky, Michigan, Ohio, South Dakota, and Washington, CGF Savings Certificates are offered to individuals, churches, assemblies, and other entities that are members of or contributors to the RCA, or participants in a program, activity, or organization that is a part of the RCA, or an organization that has a programmatic relationship with the RCA, including previous investors. In other states no such restrictions exist. Investors must reside in states in which the CGF is authorized to sell certificates. Please go to How to Invest for a list of states.

How are CGF Savings Certificate interest rates determined?
Rates are determined by us from time to time based on a number of factors, including the return on the CGF loan portfolio and market rates of other investments. The CGF attempts to offer rates that are attractive to investors.

What are the options for payment of interest on a CGF Savings Certificate?
On Term Certificates interest can be paid quarterly or semi-annually with an option to a) receive payment by check or electronically into a bank account or b) have the interest reinvested back into the certificate. Interest earned on Demand Certificates is reinvested in the certificate monthly.

What if an investor needs to redeem a CGF Savings Certificate prior to maturity?
The CGF in the past has allowed early redemptions at its discretion with a penalty equal to 90 days of interest. The penalty has been waived under some circumstances such as the death of an investor.

How is an investor notified of their CGF Savings Certificate maturity?
Written notice of a certificate maturity will be mailed to the investor at least 30 days prior to maturity of the certificate.

How is a CGF Savings Certificate redeemed or reinvested at maturity?
Along with the maturity notice the investor will receive a form to complete and return to the CGF indicating whether to redeem or reinvest the certificate. If the investor does not respond, and if permitted by the investor's state of residency, the maturing principal of the certificate is automatically renewed and a new certificate of the same term as the maturing certificate is issued at the then current rate.

How does a person make an investment in a CGF Savings Certificate?
Certificates are available only through our Offering Circular in states where the CGF is eligible to offer investments. If a person is interested in investing, has further questions, or wants more information, he or she should contact the CGF at (616) 541-0907, toll free at (888) 722-4958, or by email at or

This is not an offer to sell our securities to you and we are not soliciting you to buy our securities. We will offer and sell our securities only in states where authorized. The offering is made solely by our Offering Circular  (for CA use only). The purchase of our securities is subject to risks, which are described in our Offering Circular. We do not currently offer securities in all states. See How to Invest for a list of states in which we are authorized to sell our securities.

Not FDIC or SIPC insured • Not a bank account • No RCA guarantee •