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The Benefits Board now has available cash reserve accounts for churches and church-related entities within the denomination. The minimum to open a Cash Reserve Accounts for Ministry is just $1,000.

Funds in the accounts are placed in professionally-managed institutional money market funds/accounts. While not managing the funds, the Benefits Board provides record-keeping and administrative functions and serves as an intermediary between eligible participants and fund managers. In addition, the Board provides regular statements to the participants. The funds in the Cash Reserve Accounts for Ministry are not guaranteed or secured by the Benefits Board or by other assets under management by the Benefits Board, specifically assets held in the Ministers’ Retirement Plan.

The Cash Reserve Accounts for Ministry provide an institutional money market return and funds within the accounts are readily available when needed by the church. The church can enjoy a long-term CD-like return but have the funds accessible without penalty for early withdrawal.

To obtain the daily rate (stated as a net annualized yield) on the Cash Reserve Accounts for Ministry, e-mail us at giles@benefitsboard.com or call the Board at (877) 478-7190.

APPLICATION for Cash Reserve Accounts (CRAM100)
To open a Cash Reserve Account for Ministry, you must fully complete an application. The application should be filled in electronically, but it must be printed out, signed and mailed to the Benefits Board.

Return the completed application to:
Benefits Board, Inc.
CRAM Accounts
Post Office Box 4608
Cleveland, TN 37320-4608

You may fax your completed application to (423) 478-7889 to open an account. However, the original must be forwarded by mail and must be on file with the Board before any withdrawals can be made from the account.

CHURCH RESOLUTION for Cash Reserve Accounts (CRAM300)
All churches must provide the Board with a Resolution which shows authorization for the church to open a Cash Reserve Account. The resolution should be filled in electronically, but it must be printed out, signed and mailed to the Benefits Board. The Resolution should accompany the application.

Department, entities, and institutions of the international denomination are not required to provide a resolution.

FREQUENTLY ASKED QUESTIONS for Cash Reserve Accounts (CRAM150)
Review the questions that are most frequently asked about the Cash Reserve Accounts for Ministry. If you have additional questions about the accounts, you may e-mail the Board at info@benefitsboard.com.

RULES AND PROCEDURES MANUAL for Cash Reserve Accounts (CRAM000)
All the operating rules and procedures concerning the administration of the Cash Reserve Accounts for Ministry are set out in this easy-to-read manual. All potential investors in the Cash Reserve Accounts should carefully read the Manual before sending money to the fund.

WIRING INSTRUCTIONS for Cash Reserve Accounts
To obtain instructions on how to wire money into the Cash Reserve Accounts for Ministry, you may e-mail us at giles@benefitsboard.com or call Gayla Iles at the Board at (423) 478-7131 or toll-free at (877) 478-7190.

For further information please contact us by phone at (423) 478-7131, toll-free at
(877) 478-7190, by e-mail at info@benefitsboard.com, or by writing to:

CHURCH OF GOD BENEFITS BOARD, INC.
P. O. Box 4608
Cleveland, TN 37320-4608

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