About the IN U.M. Loan & Savings Ministry
What We Do
The IN U.M. Loan & Savings Ministry, Inc. is a non-profit organization that promotes the growth and development of United Methodist churches and agencies. We provide loans to UM churches and agencies throughout Indiana for new construction, remodeling, and refinancing of churches, parsonages, and other facilities.
The Loan and Savings Ministry Fund provides an opportunity to invest in ministry growth with vehicles that are stable and yield steady income. Churches and individuals can invest with the Loan and Savings Ministry Fund. We serve individuals affiliated with a United Methodist church who reside in Indiana, Illinois, Kentucky, Hawaii, Florida, Texas, or North Carolina.
Our core values inform all our decisions:
- Serving and Growing God’s Church
- Financial Integrity Quality
- Customer Service
One depositor noted “I like it that Methodists are investing in other Methodists.”
Our History and Structure
The Loan & Savings Ministry was created in 2001 by the former North Indiana United Methodist Foundation, and the first loan was made in April, 2002. The Loan & Savings Ministry is not a financial institution and is not federally insured under FDIC. It offers a security interest in the pool of loans made to United Methodist churches and agencies in Indiana. The Loan & Savings Ministry is registered with the state of Indiana.
A tax-exempt 501(c)3 organization, the Loan & Savings Ministry is a separate legal entity affiliated with United Methodist Foundation of Indiana and the Indiana Conference United Methodist Church. The Loan & Savings Ministry receives no funding from tithes or apportionments from the Indiana Conference. All operations are supported by the net interest margin between loans issued and deposits offered and donations from loyal supporters.
“I chose the Loan Fund for the service opportunity and the high interest rates.”
Loan Fund Directors
Dave Berry was recently appointed Director of Finance, Global Surgical Solutions, at Hill-Rom Holdings, Inc., after leading the company’s corporate finance organization for several years. Prior to that, he held a number of finance and management positions at IBM.
Karla Elliott has been CEO and General Counsel for Eagle Adjusting Services in Noblesville for several years. She worked in private law practice prior to that.
Scott Green is a Vice President in Commercial Lending for MutualBank for whom he has worked for over 10 years.
Jeff Lorensten has been the Chief Risk Officer with First Merchants Bank, of Muncie Indiana for 10 years, while working at the bank for 15 years. He is also a licensed CPA.
James Need retired after 10 years as the Community Bank President of Regions Bank, Frankfort, Indiana branch. He served the bank for 39 years.
Manet Shettle is the President of the Foundation and Loan Fund. She is a non-voting member of the board of directors of the Loan Fund.
DeVon Yoho is a retired Associate Professor of Economics from Ball State University, Muncie, Indiana . He has more than 30 years of service at Ball State University.
- Chuck Armstrong — Southwest
- Marla Dernay — North & Northwest
- Becky Kammeyer — East & Southeast
- Todd Outcalt — Central & West
- Paul Perry — South
- Dave Rees — Northeast & North Central
The daily operations and outreach of the Loan & Savings Ministry are managed by a dedicated operational and field staff. The operational staff are located at the Foundation office in Fishers and the field staff are disbursed throughout the state.
Manet Shettle President