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Old 07-18-2013, 11:09 AM   #21
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Originally Posted by Chuckanut View Post
Local banks in my area are offering 10 years CD's, insured for about 1.25%.

IMHO, you would be wise to put a high priority on return of capital, not just return on capital.
I would look to Ally Bank before choosing a local bank. They are paying 1.5% on a 5 year CD, but more importantly, there is only a sixty day penalty for early withdrawal, so if rates go up in the short term, it's no big deal to pull out early and reinvest into a higher rate CD. The last time I researched this, Ally was the only bank offering this low of a penalty. Most other banks had a 12 month penalty for early withdrawal. Since Ally is FDIC insured, there is no reason not to put at least your first $250K there.

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Old 07-18-2013, 03:55 PM   #22
Recycles dryer sheets
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Join Date: May 2006
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Originally Posted by jon-nyc View Post
I would never trust a financial company with the word 'Christian' in the name.
Me either. However, 'Jewish', on the other hand

(it's a JOKE, I'm Jewish myself)

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Old 07-18-2013, 06:26 PM   #23
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You could be fine, or it could be a HUGE PONZI SCHEME. I wouldn't take the chance on it, especially for a whopping 3% return.
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Old 07-18-2013, 06:30 PM   #24
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
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The affinity thing worked for Bernie Madoff.

This is a trap. Run, do not walk.
my bumpersticker:
"I am not in a hurry.
I am retired.
And I don't care how big your truck is."
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Old 07-19-2013, 12:34 AM   #25
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Originally Posted by pletal View Post
Hello, just had a couple of CD's mature, about 250K. Don't want to lock the money up for a long period. Paster at church gave me some info about Christian Financial Resources, Inc out of Florida. They have a 15 month CD paying 3 percent, not insured. Anyone have any info on the group. Thanks in advance.
This must be a "joke". If not, run don't walk.....the many posts are right on!
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Old 07-19-2013, 03:14 AM   #26
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Originally Posted by madsquopper View Post
(it's a JOKE, I'm Jewish myself)
Which means you're allowed. I guess I gave up my right to tell self-deprecating Jewish jokes when I signed the book as a Unitarian.

Originally Posted by daystar View Post
You could be fine, or it could be a HUGE PONZI SCHEME.
While anything is possible, I wonder if a 30+ year old organization would be running a Ponzi scheme. They seem legit, for what they do: They own the building they're located in (they moved to Lake Mary from Altamonte Springs, seems like three years ago), and the records show that they don't pay property tax (i.e., recognized as a legitimate religious enterprise in Florida). I found records that they actually do underwrite mortgages for churches. It could be all a setup, but if so it seems an elaborate one.

So I think this is just what it seems to be: An organization that tries to get people to invest their money in unsecured investment vehicles that benefit Christian ministries instead of banks.

It's still a very bad idea, imho, since I could find no reliable information about the reliability of this organization to pay its creditors.

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