Multiple Accounts
- Multiple accounts allow you to keep your various funds separate, e.g.
- General Endowment Fund
- Building Fund
- Parsonage Fund
- Cemetery Fund
- Missions Fund
- Harold & Wilma Jones Scholarship Fund
- etc., etc.
|
|
“But wait,” Charley said, “Won’t our fees be higher?” “No,” I said, “Whether you have $100,000 in one account or $20,000 in each of five accounts, you’ll pay the same total amount. It will simply be allocated between the various accounts. And, when your cumulative investments exceed $200,000, the fee will be reduced. And again when your investments exceed $500,000 and $1,000,000.”“Do we need to complete a separate Application for each account?” Melissa asked. “Yes, unfortunately you do,” I said.
“Well then, can we have separate Authorized Signers for each account?” Ms. Greer inquired. “Yes, you may,” I replied.
“I understand we can now see our monthly statements online,” said Richard. “Can that be set up so that I only see the report(s) in which I’m interested?” “Exactly,” I responded.
“What if we want to combine or subdivide accounts at some future point?” Maggie asked. “Not a problem,” I said.
“But then they won’t need me anymore,” David, the bookkeeper, mused. “I’m sure you have plenty of other things that you can do with your time,” I replied. He grinned and said he guessed I was right.
If you’re interested in creating some new accounts or subdividing your existing account, please feel free to call us at 804-521-1121.