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Frequently Asked Questions

Investing for Individuals

AGFinancial investments are not insured or guaranteed by SIPC, FDIC, or any other federal or state authority or regulatory agency, or any other person or entity. No AGFinancial investor has ever experienced a loss of investment or missed receiving an interest payment. However, as with any investment, past performance is no guarantee of future returns.

The Offering Circular helps you make an informed investment decision. It includes the history of AGFinancial, its policies and procedures, description and terms of investments, risk factors, and last three years of financials. When you open an investment, you agree to the Offering Circular’s terms and conditions.

Download Offering Circular

To see your investments online, you must first set up a user ID and password within Online Access.

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You can make an additional investment to your Demand Certificate at any time with a personal check or electronic transfer from your bank. Funding your Demand Certificate by electronic funds transfer (EFT) can be done through Online Access. Adding funds to all other AGFinancial investments can be made only when the investment reaches maturity. Upon maturity, you will have a 10-day grace period to add funds to your existing investment.

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A minimum balance of $250 must be maintained for Demand Certificates and all other investments must maintain $500 minimum in order to keep the investment open.

Monthly automatic investments can be made to Demand Certificates and Adjustable Rate IRAs through EFT. The minimum for each is $50 per month.

Redemptions may be requested in writing and the requests must be signed by the owner(s) or other authorized parties. Requests can be mailed, faxed to Client Services at 417.831.7429, or via our secure file upload. Redemptions for Term Certificates are available by check, bank wire, or Electronic Funds Transfer (EFT) with proper authorization forms on file with AGFinancial. Demand Certificates also permit redemption requests by phone and through Online Access if two signatures are not required.

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For Demand Certificates and Term Certificates (6 months to 10 years), interest can be paid monthly, quarterly, semi-annually, or annually. A minimum balance of $10,000 is required for monthly payments. For IRAs, any amount can be paid monthly, quarterly, semi-annually, or annually; however, additional paperwork is required for IRA withdrawals.

Interest accrues daily and compounds monthly.

A maturity notice is mailed approximately 30 days prior to the investment’s maturity date.

Our current policy is to impose an early redemption penalty of 2% of the principal amount of the investment certificate redeemed prior to maturity. Term certificates allow investors to borrow against their balance; contact us for more information.

Investing for Churches

AGFinancial investments are not insured or guaranteed by SIPC, FDIC, or any other federal or state authority or regulatory agency, or any other person or entity. No AGFinancial investor has ever experienced a loss of investment or missed receiving an interest payment. However, as with any investment, past performance is no guarantee of future returns.

The Offering Circular is used to making an informed investment decision. It includes the history of AGFinancial, its policies and procedures, description and terms of investments, risk factors, and last three years of financials. Agreement to the Offering Circular’s terms and conditions is required to open an investment.

Download Offering Circular

To see investments online, a user ID and password must be set up within Online Access.

Get Started

Access to institution investment(s) is permitted via an executed Authorized Agent Form signed by your institution’s authorized signers (including senior pastor for churches) and submitted to Client Services by email, fax, or mail.

Download Form

For Demand Certificates and Term Certificates (6 months to 10 years), interest can be paid monthly, quarterly, semi-annually, or annually. A minimum balance of $10,000 is required for monthly payments. For IRAs, any amount can be paid monthly, quarterly, semi-annually, or annually; however, additional paperwork is required for IRA withdrawals.

Interest accrues daily and compounds monthly.

An additional investment can be made to a Demand Certificate at any time with a check or electronic bank transfer. Funding a Demand Certificate by electronic funds transfer (EFT) can be done through Online Access. Adding funds to all other AGFinancial investments can be made only when the investment reaches maturity. Upon maturity, there is a 10-day grace period to add funds to an existing investment.

Learn More

Monthly automatic investments can be made to Demand Certificates and Adjustable Rate IRAs through EFT. The minimum for each is $50 per month.

Redemptions may be requested in writing and the requests must be signed by the owner(s) or other authorized parties. Requests can be mailed or faxed to Client Services at 417.520.3606, or scanned and sent as an email attachment to ClientServices@agfinancial.org or via our secure file upload. Redemptions for Term Certificates are available by check, bank wire, or Electronic Funds Transfer (EFT) with proper authorization forms on file with AGFinancial. Demand Certificates also permit redemption requests by phone and through Online Access if two signatures are not required.

A maturity notice is mailed approximately 30 days prior to the investment’s maturity date.

Our current policy is to impose an early redemption penalty of 2% of the principal amount of the investment certificate redeemed prior to maturity. Term certificates allow investors to borrow against their balance; contact us for more information.

Retirement for Individuals

You may make changes to your investment allocations online or by written request using the Investment Change Form. Once the form is completed, submit by mail, fax, or via the secure message option within your online access For written requests, you will receive a letter confirming when the change has been made to your account.

For your protection, changes cannot be made by phone or by email.

Make Changes Online Download Investment Change Form

To change your beneficiary(ies), complete the correct form below and return it to our office by mail or via our secure file upload.

Download IRA Beneficiary Form Download 403(b) Beneficiary Form

Yes. To see your account online, you must first set up a user ID and password within Online Access.

Go to Online Access

You may contribute with a personal check if you have compensation as a credentialed minister and receive a 1099-MISC form or if you are employed as a credentialed minister at a non-Assemblies of God employer. Please consult your tax advisor. All other contributions must come from an Assemblies of God employer.

If you file or are eligible to file a Schedule C for your federal income taxes on your ministry related income, you are likely eligible to contribute to the AG retirement plan as a self-employed minister. Consult your own tax advisor to determine your self-employment status in this situation. Credentialed ministers who file taxes as self-employed for income and SECA tax purposes may not qualify as self-employed for contribution purposes if they are considered common law employees of an Assemblies of God ministry.

A Roth 403(b) is similar to a Roth IRA in the following ways:

  • Compensation used to fund a Roth is taxed before being contributed to a Roth account. Earnings grow tax-free.
  • Qualified distributions are made tax-free and penalty-free. A qualified distribution is one where the Roth account has been open for the 5-taxable-year period of participation and meets other qualifications.

      A Roth 403(b) is similar to a traditional 403(b) deferral contribution in virtually all other aspects. It is important to note that qualifications for a tax-free, penalty-free distribution differ between Roth 403(b)s and Roth IRAs.

      You may contribute to both a Roth and traditional 403(b) pre-tax account in the same year. The combined contribution may not exceed the IRS established limits.

      View Limits

      You may elect to have your future contributions made as pre-tax contributions to the 403(b) plan. Any contributions that have already been designated as Roth contributions cannot be changed to pre-tax contributions.

      Non-credentialed employees will still pay Social Security and Medicare (FICA) taxes on the amount that is contributed to a Roth account just as they do with the traditional pre-tax 403(b) deferral. Credentialed ministers should consult their own advisors to determine the taxability for SECA purposes on both the Roth and traditional pre-tax contributions.

      Section 107 of the Internal Revenue Code allows “ministers of the gospel” to exclude some or all of their ministerial income designated by their church or church-related employer as a housing allowance from income for federal income tax purposes.

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      A Required Minimum Distribution (RMD) is the minimum amount you must withdraw from your retirement account each year after age 72. Once you have reached this age, IRS regulations provide that all tax-sheltered retirement plans have an RMD. This rule may be a reason for you to consider rolling over all of these accounts to your AG 403(b).

      Regulations further provide that an employee who continues in active ministry with the Assemblies of God may delay the RMD until the date of actual retirement from ministry.

      A 50% federal excise tax penalty will apply for failure to elect an RMD after age 72, except when continuing active ministry with the Assemblies of God.

      For more information regarding Required Minimum Distributions, contact us at clientservices@agfinancial.org or 1.800.622.7526.

      There is no limit to the number of distributions you can take in a calendar year. One periodic and one non-periodic distribution per calendar year is allowed at no charge (additional distributions are subject to a $50 fee). A periodic distribution is one that you take on a recurring basis, either monthly, quarterly, semiannually, or annually. A non-periodic distribution is a one-time distribution. A first-time start-up of a periodic distribution does not count as a change in your periodic distribution. A charge will be made for special handling requests, such as bank wires and/or checks.

      AGFinancial does not charge a penalty for distributions. However, if you are under 59½, you may incur an IRS penalty for an early distribution or mandatory IRS withholdings. There are exceptions to the IRS penalty as defined in Internal Revenue Code 72(m)(7).

      Tax laws and plan restrictions put limitations on when you can take distributions from your 403(b) retirement funds. You can withdraw traditional after-tax (but not Roth) funds and balances from rollovers at any time. Taxes and a 10% early withdrawal penalty may apply to the taxable portion of the distribution. If funds are needed prior to legal retirement age, an option may be an MBA loan.

      All other 403(b) funds can be accessed only in the following situations:

      • Severance from employment (termination of Assemblies of God credentials)
      • Attainment of age 59 1/2
      • A total and permanent disability
      • For a financial hardship as defined by law and the plan document
      • For your beneficiaries at your death
      Learn More About 403(b) Loans

      Distributions that are free from tax and penalties can be made when the Roth 403(b) has been open for the 5-taxable-year period of participation and one of the following events happen:

      • You reach age 59 1/2
      • You become disabled
      • Your beneficiaries receive distributions upon your death

      You may have a distribution (and in some cases are required to take a distribution) when you no longer have credentials with the Assemblies of God and/or when you sever employment from an Assemblies of God employer. These distributions are taxable and are subject to penalties. It is important to note that the allowances for the distribution of Roth 403(b) accounts, including distributions of principal, are different than the allowances for Roth IRA distributions.

      Church Loans

      We offer a full range of loans:

      • Permanent loans
      • Construction loans
      • Credit lines
      • Vision loans
      • PAC Startup Loans
      • Facelift Loans
      • Custom-tailored loans to fit your ministry needs

      Visit our Church Loans page to learn more.

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      We offer a range of options based on the needs of your church. To learn more about loan options, read our resource "How to Shop for a Church Loan".

      Read the Article

      In the world of commercial lending, a long-term, fixed-rate mortgage loan generally does not exist. Lenders often use the term “fixed-rate” to draw potential borrowers to short-term loans. However, even though the rate is fixed, it is only for that short-term. At the end of the term, the full loan amount must be paid. This large final payment is called a balloon payment.

      In contrast, we offer long-term permanent loans, which provide stability to churches and ministries. Our mortgage terms are up to 25 years, with rate adjustment periods of one, three, five, or seven years. We also provide interest rate caps on how high your rate can go—a guarantee you will not find with short-term mortgage loans.

      A portion of your mortgage interest dollars go to the support of churches and ministries across the country, helping them to grow and advance the Kingdom. With AGFinancial, you have a partner in ministry whose values align with yours, and you can be assured that your interest dollars contribute to ministry growth.

      With a construction loan, the total loan amount is approved at closing, and all documents are prepared and signed at closing. The church can then borrow up to the approved amount during construction by drawing funds from our office. These draws are reviewed by our Construction Loan Project Manager, who will ensure that the amount is in line with the work being completed. At the end of each month, the church is billed only for the interest due on the amount that has been drawn up to that point. Our Lender Representative may visit the site to meet with the owner and General Contractors and to help facilitate keeping the project on schedule and on budget. This service is included in the loan fees. When construction is done, the loan is transitioned over to a permanent loan with regular monthly payments.

      We attempt to establish property values through tax records, insured values, real estate market analysis, and other methods. However, on new construction loans over $1 million or when the collateral ratio appears to be outside our policy levels, we may need an appraisal. In most cases, a summary appraisal is enough.

      We will need a Schedule of Values form (firm cost estimate with specific line items for cost overruns and contingencies), architectural drawings, a floor plan with elevations, and other documents as needed.

      We will use the district’s Articles and Bylaws.

      As a rule, with complete information and documentation, a loan can be approved within 30-45 days and funded within 30-45 days following approval. This timeframe varies based on schedules and how quickly third-parties such as title companies and appraisers complete their work. Turning in all documentation with your application and staying in touch with the escrow company helps prevent delays.

      Terms can be as long as 25 years. However, we often advise against such long terms because of their higher interest cost to the church over the life of the loan.

      Planned Giving

      Planned giving is a process that integrates the personal, financial, and estate planning goals of donors with their desire to create current or future financial gifts for charitable purposes. Some planned gift options, like bequests, are very straightforward and are made by a designation in a Will or Trust. Others require additional planning and are designed to create present or future income stream for the donor or other beneficiaries, tax savings for the donor, and a legacy gift for ministries or charities.

      AG Foundation offers planned giving tools such as Charitable Gift Annuities, Donor Advised Funds, Endowments, Ministry Impact Funds® , Charitable Remainder Trusts, Revocable Trusts and more. For more information, visit our Planned Giving page.

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      Insurance for Churches

      Every church needs two types of insurance: property and liability (casualty). Property insurance covers the things the church owns and should be calculated based on what it would cost to replace them (replacement cost value). Liability insurance covers actions that could leave the church liable for damage to others, including injuries, possessions, and reputations. In our experience, it is crucial for churches to have at least the following liability coverages:

      • General
      • Sexual misconduct
      • Directors, officers, and trustees (DOT)
      • General
      • Business auto
      • Hired and non-owned auto
      • Pastoral counseling
      • Workers' compensation

      For more information, visit our Insurance for Churches page.

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      Most churches should secure coverage based on the replacement cost value. This will provide enough coverage to rebuild facilities or replace property with new items of like kind and quality. Make sure your agent secures an appraisal to determine the replacement cost for your building.

      Every church should have workers’ compensation insurance. It is not subject to a deductible and includes medical payments for all employees as well as disability payments until the employee can return to work.

      Risk management is the process of assessing the likelihood of an accident and its potential financial impact on your church—increased insurance premiums, damaged reputation, financial settlements, legal fees—and then taking steps to help prevent the accident before it happens. But more than just helping you avoid an expensive lawsuit, risk management is about protecting those to whom you minister. You’ve been entrusted with providing a safe place for people to learn and worship. Comprehensive risk management policies both maximize the safety of your congregation and minimize liability for your church.

      Coinsurance is the percentage of insurance to the property value. Most companies require that a coinsurance rate of 80% or 90% of the property value be in place at the time of a loss. If this percentage is not met, a coinsurance penalty may result in the event of a claim. For example, if your property is worth $100,000 and the coinsurance requirement is 80%, there would need to be at least $80,000 of coverage in place to pay a claim without incurring a penalty. This penalty could be costly. It is determined by taking the amount of coverage you have and dividing it by the amount of coverage you should have according to the coinsurance requirement. Continuing with the above example, if you have $40,000 of coverage instead of $80,000 (50% of the amount required), the insurance company may penalize you by paying only 50% of your loss.

      To avoid a coinsurance penalty, ask your agent for an Agreed Value endorsement on your policy, in addition to insuring your property according to its replacement cost. This endorsement waives any potential coinsurance penalty. There is a small additional cost with most insurance carriers to add this endorsement.

      Key man insurance is a life insurance policy for one or more lead pastors, administrators, etc. A key man policy is owned by the ministry and is meant to help compensate the ministry for the death of one of its key leaders. The death benefit can help a church show financial strength to creditors, conduct a proper search for a replacement without worrying about immediate financial needs, and promote a general succession plan.

      Ministries should consider a key man policy for the following reasons and circumstances:

      • To insure the life of any employee who has exceptional knowledge of the intricacies of the ministry
      • When the reputation of the church is directly tied to the charisma of the pastor
      • If a bank or lender is requiring a guarantee on their business loans

      To see how much coverage you need, check out our article "Losing a Leader: How Key Man Insurance Can Help a Church Recover".

      Read the Article

      Agreeing to be named as an additional insured splits your liability with the other party. As a result, your insurance may have to provide defense if the other party is negligent.

      For Standard Group Life Insurance questions, call Innovo Benefits Administration at 800.829.5601.

      For Church Mutual policy holders, call 800.554.2642 and select option 2.

      For all other billing questions, contact us at 866.621.1787 or info@agfinancialinsurance.com.

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      For Church Mutual policy holders, call 800.554.2642 and select option 2.

      For all other claims, contact us at 866.662.8210 or info@agfinancialinsurance.com.

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      Insurance for Individuals

      For Standard Group Life Insurance questions, call Innovo Benefits Administration at 800.829.5601.

      For all other billing questions, contact us at 866.621.1787 or info@agfinancialinsurance.com.

      Email Us

      AGFinancial Insurance offers an array of personal insurance products, like life insurance, home and auto insurance, as well as mission trip travel insurance.

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      AGFinancial Insurance offers individual life insurance, group insurance for credentialed AG ministers, and “key man” life insurance for pastors and ministry leaders.

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      Yes, we offer travel insurance plans for those trips associated with AG missionaries or ministries.

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      Did you know we have a wide array of products and services to help you on your financial journey? Learn how we can help.

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