A Financial Strength Assessment is a ministry finance tool you can use to measure your current financial performance and how a loan or refinance would impact your ministry’s overall financial condition. The Financial Strength Assessment surpasses basic loan calculators by assessing a church’s ability to repay their debt, and answers those questions that commonly arise in ministry, such as:
- Where are the areas of financial risk in my ministry from a lender’s perspective?
- Am I financially strong enough to potentially qualify for a better loan rate?
- What is my current financial strength score as it relates to this peer-based scale, and what can I do to make it even stronger going forward?
This evaluation tool uses key financial strength indicators to provide you a customized report complete with your financial strength score. The requested information should be readily accessible to church staff, and only take a few minutes to complete.
This Financial Strength Assessment is being provided to you as a courtesy, in the belief that it may be useful in assisting you in managing your financial affairs. It is based on information provided solely by you. The 1-5 score index used in the Financial Strength Assessment is a subjective measurement tool established by the Credit Union, not by any regulatory agency, and is not defined terms from any loan agreement between you and the Credit Union. While the Credit Union believes that the Financial Strength Assessment information is accurate and that the methodologies used are sound, it does not, and cannot, assure you of same, and by your review and other collateral use of the Financial Strength Assessment you agree to hold Credit Union harmless and free from any liability whatsoever on account of its preparation and transmittal to you, and for any use made of it by you. Also the Financial Strength Assessment is NOT intended to be, and is NOT, a contractual notification or loan qualification under the terms of any agreement between you and the Credit Union, and it does not alter or modify any party’s rights or obligations under any such loan agreement, nor does it constitute a waiver of any party’s rights thereunder.