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Savings Certificates

Types of savings certificates available

Effective July 1, 2024

Term Savings Certificates

Minimum investment: $1,000

This interest bearing investment is available from one- to ten-year terms. Interest can be paid quarterly or semi-annually and can also be reinvested in the certificate.

Interest rate:
1-year: 4%
2-year: 3.5%
3-year: 3%
4-year: 3%
5-year: 3%
10-year: 3%

$100,000 or more will receive an additional 0.25% of interest.

Demand Savings Certificates

Minimum investment: $10,000

This interest bearing investment can be added to or redeemed. Such activity is limited to three times a month, with each transaction not less than $500. The investor is required to maintain a $10,000 minimum balance. Interest is paid back into the certificate monthly.

Interest rate: 3%

Pastoral Demand Savings Certificates

Minimum investment: $1,000

This interest bearing investment is available to any RCA pastor (ordained or commissioned) who is actively involved in ministry and resides in one of the states where we are registered to sell investments (with the exclusion of Ohio) and can be added to or redeemed.  Such activity is limited to three times a month, with each investment not less than $200 and each redemption not less than $500.  The investor is required to maintain a $1,000 minimum balance, and cannot exceed a maximum of $100,000 in the account.  Interest is paid back into the certificate monthly.

Interest rate: 4%

Individual Retirement Accounts

Our savings certificates may be purchased by IRAs or other types of retirement accounts. Any individual who wishes to purchase one of our savings certificates as part of an IRA or retirement account portfolio may do so through the custodian of a self-directed IRA or other self-directed retirement account.

IRA investors may invest in either:

  • a term savings certificate (which receives the same interest rate being paid on our standard savings certificates
  • an IRA demand savings certificate which is currently paying 4%.

Why invest with the CGF?

Investing with the CGF is good for the kingdom and makes financial sense. Not only will you receive a favorable rate of return, but you’ll know that your money is being used to make loans supporting current and former churches as they expand and enhance their ministries. Those loans made possible by your investment generate earnings that enable the CGF to make contributions to the denomination used to offer grants to new church plants, provide scholarships for young people to serve on mission trips, and fund building improvements to economically challenged yet flourishing churches.

Rates of return are often higher than what can be earned from financial institutions, and certificates are available in fixed or flexible durations, so you can invest in a savings certificate that makes sense for you.

Competitive rates

CGF Savings Certificate investors enjoy a favorable rate of financial return.


Interest on your loan is used to offer grants to church plants, provide scholarships to mission trips, and help other economically challenged churches.

Frequently Asked Questions

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, and South Dakota, 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.

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.

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 you are interested in investing, have further questions, or want more information, contact the CGF at or (888) 722-4958.

How to invest

Step 1: Check States

Confirm that you reside in one of the following states:

New Jersey
New Mexico
New York
North Carolina
North Dakota
Rhode Island
South Dakota

Step 2: Obtain the Offering Circular

Obtain a copy of the Offering Circular, as it contains important information pertaining to the CGF.

Offering Circular for residents of California
Offering Circular for all other states

By downloading or requesting a copy of our Offering Circular, you are certifying that you are a resident of one of the above states. A copy of the Offering Circular can also be requested by contacting the CGF toll free at (888) 722-4958 or by email at

Step 3: Complete, Print, and Mail the Application

The application is an interactive form and can be completed online and then printed. A copy of the CGF Savings Certificate application can also be obtained by contacting the CGF toll free at (888) 722-4958 or by email at By downloading or requesting a copy of our CGF Savings Certificate application, you are certifying that you are a resident of one of the above states.

Mail the completed application along with your check in the amount you wish to invest to the address shown at the bottom of the application. You will receive a receipt acknowledging and verifying your CGF Savings Certificate investment within two weeks of the CGF receiving your information.

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. 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 •