Who we are and what we do.
COGBF Financial Solutions was incorporated in April 2017, under the Florida 501c.3 Not-for-Profit law. COGBF FS received its 1023 Exempt designation from the IRS and operates according to the North American Securities Administrators Association, Inc. (NASAA) Statement of Policy amended April 18, 2004. The Extension Fund was established to assist COGBF churches and Ministries by providing loans for new facilities, renovation, and refinances with investor funds.
“Remember this: Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously.”
2 Corinthians 9:6 NIV
What you need to know.
Q: Is the Extension fund secure from economic woes?
A: No business or institution is exempt from the risk of failure. Fortunately, our business is Kingdom business, which means God is in control. Secondly, we take our responsibility towards our investors very seriously. This is why we have strict lending guidelines and review each loan application carefully. For a more detailed report concerning the financial status of the Extension Fund, please view our Offering Circular.
Q: How is the Extension Fund different from a bank or credit union?
A: When it comes to making a decision as to which financial institution an individual should choose to entrust his or her money, the “eternal benefits” provided through the COGBF Extension Fund should be kept in mind. The Extension Fund offers competitive rates, it also uses the investor’s funds wisely. The Extension Fund is building on Kingdom foundations as it assists churches in accomplishing their God-given goals.
Q: What is the process for acquiring a church refinance?
A: A church must submit: a COGBF Financial Solutions application, any required documentation, and meet all criteria established; all of which is available via the website: www.cogbffs.org.
Q: Is COGBF Financial Solutions a not-for-profit organization?
A: Yes, this is not for profit 501c.3 organization, established under IRS guidelines with legal counsel.
Q: Is the extension fund FDIC or NCUA secured?
A: The Extension Fund is not secured by any investment insurance. We rely on the faithfulness of payments from local churches as stated in their signed Promissory Notes. All loans are secured by a first mortgage; naming the Church of God by Faith Financial Solutions Extension Fund as lien holder.
Q: Does the Extension Fund offer retirement services?
A: Yes. We offer Individual Retirement Accounts (IRAs) for both individuals as well as for corporate entities. Rates and terms are the same as normal investments.