This is a video that I was emailed a few months ago. It gives some good insights into what money really is, how the banking system works, and the direction that our economy is headed. While I don’t agree completely with all of the conclusions given toward the end of the video, the information used to get there is pretty factual and has been laid out very simply.

The video is about 47 minutes long but I recommend watching it strait through at least once. I’ve seen it probably a dozen times and I still find something new in it each time I see it.

I would appreciate your comments and opinions when your finished.

Enjoy…

I spend a lot of time focusing on what companies are involved with and encouraging Christians to avoid putting their investments in companies that profit or support biblically immoral activities. So with all the corruption in the banking system in the news over the last few months I decided to do some research and find out if there were more ethical and reliable institutions to do my banking at. After all, the money we deposit at the bank is used as the banks reserve to make all kinds of loans which support and finance many of the companies we are trying to avoid. While the dollars that we keep at the bank may not go directly to finance the building of a new casino the fees we pay their services, and the interest we pay on our loans often does. I found that isn’t much in the line of Christian banks, but there are several nationwide Christian credit unions. The ones below are the ones I found that do more than just put the word Christian in their name.

All of these credit unions are members of nationwide Credit Union Networks which means that even if you don’t live near a branch you can still bank with them through one of your local credit unions. Most even have deals with ATM networks that allow you to use their ATMs free of charge (including deposits).

Christian Community Credit Union

This is the most unique of the Christian credit unions that I’ve found. In addition to all the services that most credit unions offer they have several programs that I haven’t been able to find anywhere else.

The card that gives to missions – This program applies to their standard Credit/Debit/ATM card (with the Visa logo) that is issued for a checking account, and to the CCCU platinum Rewards Visa card available to members. If you didn’t know, every time you use a credit card that has been issued by a retailer (such as a home depot card with the Visa logo) or a bank, the issuer of the card makes a small commission. That’s why almost every store that you go to wants you to sign up for their Visa/MasterCard. CCCU puts that commission to work. Each time either of these cards are used in a credit transaction, CCCU takes the money that Visa pays them and donates it to a ministry. This money in no way comes out of your account. Currently, the money is going to their “Launch a Village” tribal development project in Thailand.

Balance Financial Fitness Program – CCCU has partnered with Balance Financial Fitness Program to offer free, confidential money management counseling, debt management plan, credit report review as well as finance education program. The program also includes access to a toll-free info line, and a program to help you take steps to avoid identity theft.

Church Builder Certificates – Pretty much any financial institution that you go to will offer some variation of a CD (Certificate of Deposit). CCCU offers Church Builder Certificates. The money from these deposits goes to provide affordable financing to churches and ministries who are looking to expand.

AD&D Insurance – This is not highly advertised on their site but I was happy to find out that every member of CCCU receives $1000 in Accidental Death and Dismemberment insurance (underwritten by CUNA Mutual Insurance Group) at no cost to the member. Members also receive discounts on many other types of insurances.

Americas Christian Credit Union

ACCU is based out of California but like CCCU, they are part of a nationwide network of credit unions and provide some unique services in all 50 states.

Adoption Loans – The most unique product I found at ACCU was their adoption loans. While I usually advise against borrowing money or going into debt, I have to admit that I had never considered it in light of an adoption. I could easily see how this would be viewed as investing in an asset that will appreciate in value. ACCU makes loans for both local and overseas adoptions available to their members.

Ministry and Construction Planning – ACCU doesn’t just make loans to churches then collect the interest. They also offer stewardship counseling in the use of the money as well as counseling in ministry site selection, design and construction, and strategic financial planning.

Evangelical Christian Credit Union

While CCCU and ACCU both offer ministry accounts, Evangelical Christian Credit Union’s accounts are designed exclusively for ministries.

                Long Distance Banking – ECCU’s membership in several ATM and Credit Union networks means that banking can be done in America or overseas. This was designed to allow hometown banking services to overseas missionaries and ministries.

There are other Christian credit unions that I came across while researching these but most seemed to just be a typical credit union who was trying to serve the Christian community. Many of the home pages were plastered with ads for car loans and mortgage refinancing. I choose these three because they seemed to be doing more with their money then just making loans and collecting the interest. Also, I only included credit unions that do business nationwide in this post. I’m sure there are plenty of local credit unions who do a great job. If you know of any, or if I missed one you think should be listed, feel free to let me know.