If you represent a church, or other religious organization, and are interested in applying for a loan, you’ve come to the right place!

Pre-Underwriting Process

In order to consider a request, please provide the following:

• Signed application
• $500 Refundable Application fee (refundable if loan is denied)
• All organizational documents including proof of Not-for-Profit status, Resolutions, By-laws and Constitution (if available)
• Written background History of Church from date Church was started until present
• Most recent six months of bank statements
• Three fiscal years of financial statements (for example: Balance Sheet and Income Statement)
• Year to date financial statements
• If purchasing property, copy of executed Purchase Offer
• Personal guarantors will be required

Underwriting Process

Once the Pre-Underwriting Process is complete and it has been determined by UFCU that there is sufficient information available to further evaluate your loan request, the following additional information will be required.

• Written background history of pastor(s)
• Written background history of all church officers (board members)
• Average number of members since church has been in existence until present, broken down on a year by year basis for most recent 5 years
• Personal guarantors will be required. In some cases, pastor, treasurer, and some board members must be personal guarantors. UFCU will require Personal Financial Statements and two most recent years of Tax Returns from guarantors

All of the following services must be engaged for by UFCU and paid for by the church applicant. Please do not engage services for any of the following items:

• Satisfactory appraisal showing a maximum loan to value of 75%
• Independent Certified Public Accountant financial statements, the quality of which is determined on a case by case basis

Other general requirements

• Title Insurance
• Primary depository lending relationship must be maintained at UFCU throughout the life of the loan
• Quarterly submission of financial statements during the life of the loan.
• Any other requirements deemed necessary