The Free Methodist Investment & Loan Fund offers several investment options to fit your needs. Our flexible certificate features a variable rate that is adjusted from time to time. Our term certificates have fixed rates and are offered for 1, 2, and 5 years.

Our partnership with GoldStar Trust Company also allows investors to use the Free Methodist Investment & Loan Fund for a Traditional IRA or Roth IRA. Investors have access to the same investment options and rates with the annual fee paid for by the Free Methodist Investment & Loan Fund.

Rates Effective: May 6, 2024

Best Viewed in Landscape Mode, or by swiping the table below.

Flexible Certificate*none2.50%2.47%
1 Year Certificate$5,0004.50%4.41%
2 Year Certificate$5,0003.50%3.44%
5 Year Certificate$5,0003.60%3.54%

APY: annual percentage yield
APR: annual percentage rate

Interest on all certificates accrues daily.
A statement is provided each quarter reflecting the principal and earned interest of each certificate.



How do I access my investment information?

You will receive a quarterly statement that will provide detailed information about your investment(s).  You can also access your investment information online or by dialing (800) 325-8975 and asking for a loan fund administrator.

What is the minimum investment?

Flexible certificates have no minimum investment.
Term certificates have a minimum investment of $5,000.

What is the difference between a Term Certificate and a Flexible Certificate?

Term certificates have a set term of 1, 2, or 5 years. Due to the time commitment, the interest rates offered on term certificates are generally higher than those offered on flexible certificates.  There is a penalty for early withdrawal on all term certificate investments.

Flexible certificates are not for a set period of time.  Because of this flexibility, the interest rates offered on flexible certificates are generally lower than those offered on term certificates.

All certificates accrue daily and interest is posted monthly to your certificate. You may invest or redeem your funds at any time without penalty.

What are my options for the interest accrued on my certificate?

The interest accrued on your certificate may be reinvested into your certificate on a monthly basis, or you may elect to have the interest distributed to you. Depending on your preference, your interest may be distributed to you monthly or quarterly. Additionally, if you have a term certificate and your interest has been reinvested, you may take all the interest from the certificate at any time without incurring any penalty for early withdrawal.

Can I change my interest selection at any time?

Yes, you can change your interest selection by contacting our office and requesting a Change of Interest Payout Request form.

What is the penalty for early withdrawal?

If you request redemption of your term certificate before its maturity date, a penalty equal to 3 months’ accrued interest for a 1 year term certificate and 6 months’ interest for a 2 or 5 year certificate will be applied. The penalty may be waived for the death of the investor or the need for the investor to enter a long-term care facility at the discretion of FMLF.

Can I add money to a Flexible Certificate?

Yes, an investor can add money to the certificate at any time by completing a flexible investment form and sending a check made out to the Free Methodist Loan Fund (FMLF).

Can I add money to a Term Certificate before it reaches maturity?

No, with a term certificate an investor can add money to the certificate at the maturity date only.  However, new investment certificates can be purchased at any time.  To open a new certificate the funds must be accompanied by a new investment application.  This form can be obtained above or by calling our office at (800) 325-8975.

How will I know when my Term Certificate is maturing?

Thirty days before your Term Certificate matures a Rollover Investment Form will be mailed for you to return to our office. This form allows you to instruct us on how your funds should be handled upon maturity.

What happens to my Term Certificate if I do not complete the Rollover Investment Form?

If you do not instruct us of your wishes within ten days after your Term Certificate matures, you will be mailed another Rollover Investment Form as a reminder. Until we hear from you, your funds will not accrue any additional interest.

How do I get money disbursed from my Flexible Certificate?

We encourage you to use online access to request a distribution. This is the easiest and most efficient method. You may also call (800) 325-8975 and ask to speak with a loan fund administrator for assistance or mail / email / fax a signed request. Depending on the amount requested, we may call to confirm your request as a safety measure.

*If you do not currently have online access, please contact a loan fund administrator at the number above to get set up.

How fast can I get my distribution?

The Free Methodist Loan Fund has up to 30 days to process your request, but in most cases requests are processed within 24-48 business hours of when they arrive in our office.  The Free Methodist Loan Fund is able to electronically transfer funds directly into the client’s bank account within two business days, which enables clients to receive their funds in a timely manner.

What is the difference between an ACH and a wire?

An ACH takes overnight to clear whereas a wire is available same day.  An ACH is free.  A wire costs $15 and the fee will be subtracted from your certificate balance at the FMLF.  

How do I designate a beneficiary/beneficiaries for my investment certificate?

For a new investor in the process of completing an investment application, simply complete the section entitled “Beneficiary” on the back of your New Investment Application Form.

For a current investor with an investment application already on file with FMLF, you may call and request the beneficiary change form or you may simply mail a signed request indicating your new beneficiary designations.  

Is my investment insured?

The Free Methodist Investment and Loan Fund is not a bank, and the investments held are not insured by the Federal Deposit Insurance Corporation (FDIC), the Securities Investor Protection Corporation (SIPC) or any other bank or governmental agency. Please see our Offering Circular (above) for more information.

Where can I find current interest rates for investments in FMLF?

Current interest rates are posted above.

Interest rate information can also be accessed by calling us at (800) 325-8975.

Who sets the current interest rates?

The Investment and Loan Fund committee at the Free Methodist Foundation reviews rates monthly.  All changes are approved by the Free Methodist Foundation Board of Directors Investment Committee.   

What happens when the rates change?

In the event of a rate change regarding flexible certificates, you will be mailed a written notice 30 days in advance of the change. If term certificate rates change, any existing certificates will continue at the rate it was assigned when it was opened. The rate change affects new certificates only.