Automatic Fund Transfer

An easier, more efficient way to:

• Make a gift
• Make a loan payment
• Make an investment
• Add to an investment
• Receive your earned investment interest
• Make a withdrawal from a demand note

The following authorization form is available as an Adobe Acrobat viewing file. If you do not already have the Adobe Acrobat Reader on your computer, click here get it. If you already have Acrobat Reader, simply download the files or click on them to view them. Acrobat files such as these will maintain the original layout design when you print or view them.

Automatic Funds Transfer Authorization PDF Form

NOW you can have an investment, gift or monthly loan payment deducted automatically from your local checking or savings account. For loan payments, this means one less thing for you or your treasurer to remember and can mean real savings in postage and interest charges due to inconsistencies in mail delivery. Also, you won't have to worry about being late with payments. For investments and gifts, it provides another level of convenience. We can also automatically disburse interest from your investments or a withdrawal from a demand note directly into your checking or savings account. Here's how it works:

INVESTMENTS OR GIFTS

For investment deposits and withdrawals, interest payments and gift disbursements, Church Extension can provide you with the speed, ease and convenience of automatic funds transfer. To start the process, simply complete the Automatic Funds Transfer Authorization Form and attach a voided check. Please allow at least 4 business days for unscheduled funds transfers.

• For Regular Periodic Investments or Gifts:

  • The minimum additional investment amount is based on the note to which you are adding
  • Transfers may be made from your bank to your investment account at regularly scheduled intervals
• For Investments or Gifts At Any Other Time:

  • You may add to your investments as needed according to the terms of your note
• For Regular Periodic Investment Withdrawals And Interest Payments:
• • You may elect to have your earned interest direct deposited to your bank account in accordance with the terms indicated on the Investment Application
  • You may elect to have earned interest directed to your church, to Church Extension, to New Church Ministry, or to any other person or organization
  • You may make withdrawals from a demand note on a regularly scheduled basis
• For Investment Withdrawals And Interest Payments Any Other Time:
• • You may make withdrawals at your discretion according to the terms of your note and the restrictions noted above

LOANS

On the first business day of the month, your bank account will be debited for the loan payment amount and those funds will be directed to Church Extension that same day. The amount will be applied to your loan and a payment receipt will be printed and sent to you showing interest and principal allocations.

You will want to ensure there are sufficient funds available in your account on the payment date. If an Automatic Loan Payment (ALP) is attempted and there are insufficient funds, your bank likely will charge a non-sufficient funds fee. In this event, you will need to mail a check for that month's payment.

When we receive your authorization, we'll send you a confirmation letter verifying your account information and informing you when ALP will start. It may be 30 days before your first payment can be drafted; be sure to continue making your payments on time until the service begins.

So make your treasurer's life a little simpler. Just complete the attached form and return it to us.