Clergy Loan Program.

We come alongside clergy to bring freedom to the loan relationship that gives you room to minister effectively.

Purpose of the Clergy Loan Program

The Clergy Loan Program was created out of UMF’s desire to help clergy and their families escape paralyzing debt and its negative effect, not only on clergy and their families, but on broader relationships within a church family. UMF’s hope is that through participation in this program, clergy will find new and healthy opportunities to be stewards of the financial blessings God has provided.

The Foundation is pleased to work in partnership with the NC Annual Conference of the United Methodist Church, Wespath Benefits and Investments, and The Duke Endowment to offer the Clergy Loan Program.

Loan Program DETAILS

1. Clergy in good standing with membership in the NC Conference
2. Serving under full-time Episcopal appointment in a local church or extension ministry
3. Borrower and spouse (if applicable) must complete Saving Grace Program prior to loan funding
4. Complete and submit Application Package

*An official NCCUMC email address is required for application process.

Loan Type 1: Maximum loan of $75k to pay installment debt with up to 5 yr repayment plan. This loan type may require the cancellation of all credit card accounts. Borrower agrees to incur no additional debt during term of loan.

Loan Type 2: Maximum loan of $75k to pay Student Loans with up to 15 years repayment plan.

In order to receive a loan application package, applicant must first complete the Saving Grace Program. This 7-week program is provided by UMF. Program costs are for materials only. Completion of the Saving Grace Program does not guarantee loan approval. The Saving Grace Program is offered each year in January and August. Below is a link to signup for the next available program.

Saving Grace
  • Upon completion of Saving Grace Program, borrower may request a loan application package using online request form
  • Applicant completes and submits all application forms
Loan Application
  • Upon receipt of completed loan application package, Clergy Loan Program Committee reviews documents, including applicant credit report and determines loan approval or denial
  • If loan request is approved, Clergy Loan Program Committee determines creditors to be paid, final loan amount, and repayment terms
  • Applicant is notified of loan approval and terms, or loan denial
  • Borrower provides completed EFT Enrollment Form for automatic payment withdrawals
  • Borrower provides written payoffs or statements for creditors being paid
  • Borrower agrees to incur no additional debt during term of loan
  • Loan closing date is set
  • Loan documents are signed electronically by borrower(s)
  • Loan is disbursed

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