Saving Grace: Now Available!

Saving Grace: A Guide to Financial Well-Being is now available for purchase at cokesbury.com! The Clergy Financial Well-Being Initiative is excited to help bring this new money management resource to clergy and congregations.

“United Methodist congregations are better able to support mission and ministry when their pastors and church members have a healthy relationship with money,” explained Dale Jones, managing director-Church Relations and the project director of the Initiative.

Saving Grace helps clergy and their congregations put Wesleyan teachings into practice as they move toward reaching their financial goals. The six-week program includes videos, participant workbooks, a leader guide and devotional materials that align with discussion topics. Additional materials that cover matters specific to clergy finances are also available. The course was designed to help individuals feel more comfortable talking about money—whether it be with pastors, friends or family members. 

Webinar: Saving Grace: Why Your Church Needs It! — On November 12, Ken Sloane, Director of Stewardship and Generosity for Discipleship Ministries, will join Rev. Tom Berlin, author and co-host of the Saving Grace curriculum, for a webinar to discuss the program and provide insight as to how it will be useful for your local clergy and congregations.

Stories of Success: Financial Literacy Enhances Clergy Well-Being and Ministry

On October 19, three financial literacy programs that received matching funds through the Initiative came together virtually to share their success stories. To view the full webinar click here.

• The Georgia UM Foundation created an online Clergy Financial Literacy Academy that provides clergy education for personal and church finances. Reverends Karon and Tom Compton, a clergy couple who attended the Academy, stated: “We should have done this 30 years ago! The course provided us with a better financial foundation for personal and church budgeting and planning.”
  
  
• The West Ohio Financial Well-Being Workshop provided incentives for clergy debt reduction. Clergy who attended the workshop were offered $100 for every $1,000 of personal debt they were able to pay off, up to $500. The results far exceeded expectations, as clergy paid off more than $150,000 of non-mortgage debt.
  
  
• Generous Church Leaders is a multi-agency project that educates congregational leaders on their role as it relates to church finances, including understanding generosity as a key component of growing authentic disciples of Jesus Christ. This online curriculum is hosted by Discipleship Ministries. The current course has 68 participants, and plans are in the works to partner with the Wisconsin and Mississippi annual conferences to offer this resource to their constituents.

Matching Funds Available to Start a Clergy Debt Refinancing Program

Several foundations have started successful clergy debt refinancing programs. These programs can transform the lives of clergy who have accumulated overwhelming debt. The most common forms of debt include student loans, consumer or credit debt, and medical debt. If you are considering starting a debt refinancing program to support clergy in your annual conference, please contact Ross Lundstrom for more information. Matching funds are available through Wespath, and your organization may also be eligible for a planning grant through the Initiative.

Applications Being Accepted to Help Fund Residency in Ministry (RIM) Financial Education Training

The Initiative continues to encourage application submissions by organizations to receive matching funds to incorporate financial education in residency programs for provisional UM clergy. Please contact Bonnie Marden for details on how to apply, or for ideas on how to build financial education into your RIM program.

2021-2022 Excellence in Clergy Leadership Scholarships

Sponsor agreements for the next round of Excellence in Clergy Leadership Scholarships are now being finalized by Allyson Potts, Director of Loans and Scholarships at the General Board of Higher Education and Ministry (GBHEM). This scholarship program is a multi-sponsor effort by UM seminaries, the Clergy Financial Well-Being Initiative, GBHEM, annual conferences and foundations, and seeks to help promising clergy leaders graduate from seminary without excessive debt. This scholarship incorporates EY financial planning and literacy training. To sponsor this scholarship or to learn more, contact Allyson Potts. To view the list of 2019-2020 sponsors, click here.

For more information about this initiative and clergy financial well-being resources, visit: https://www.wespath.org/for-plan-sponsors/UMC-clergy-financial-well-being

Successfully expanding financial literacy depends on strategic collaboration.
We look forward to working with you in 2020.

Connected in Christian Service,

Dale Jones, Wespath Project Director
David Bell, Project Chair

Bonnie Marden, Project Manager
Lisa Greenwood, NAUMF Executive Director

A collaborative project led by Wespath Benefits and Investments, General Board of Higher Education and Ministry, and National Association of United Methodist Foundations funded by a Lilly Endowment, Inc. grant through their Initiative to Address Economic Challenges Facing Pastoral Leaders.