What happens to my money that I invested with Seedling?
If you have a term certificate, your investment will automatically redeem and be paid out with interest on its maturity date.
If you have a Savings or Demand Certificate, you can choose to withdraw those funds at any time as long as it is done prior to December 31, 2024. Please contact us to redeem your investments prior to the above date. Any Demand or Savings Certificates still open on December 31, 2024, will be automatically redeemed.
Interest will no longer be able to be compounded, so an interest check will be issued for those who currently have their interest compounded.
What happens to our church's Parsonage Escrow Account?
If the Parsonage Escrow Account is in a term certificate, it will automatically be paid out with interest at maturity. Your District Superintendent will be notified of this redemption and will contact you with further instructions on how to care for that money.
If the Parsonage Escrow Account is in a Demand or Saving Certificate, you can choose to withdraw those funds at any time as long as you have approval from your District Superintendent.
Why is my interest no longer compounding?
Since the Department of Banking views the compounding of interest as a sale of a security, we are no longer able to compound your interest. An interest check will be issued to you semi-annually.