National Covenant Properties Approves Rate Changes

2 comments Written on June 15th, 2012     
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CHICAGO, IL (June 15, 2012) – Changes in rates for National Covenant Properties (NCP) investors will adjust effective July 1, it was decided by the NCP Board of Directors during its meeting Thursday evening.

Rates on Variable Rate Certificates and Demand Investment Accounts will move to 1.5% and Individual Retirement Accounts and Health Savings Accounts will change to 3%, according to NCP President Steve Dawson.

The five-year Fixed Rate Certificates will move to 3%; however, the current rate of 3.5% will continue to be honored for all new funds received through the remainder of June and postmarked no later than June 30, Dawson explained. Conversion of existing funds also will qualify for the current 3.5% five-year rate if converted by the June 30 deadline, Dawson noted.

National Covenant Properties uses the funds to support loans to local Covenant churches for various construction purposes, as well as other appropriate ministry projects. Rates on those loans will move to 4.5% effective July 1.

“The board wrestled with the desire to provide the highest level of return possible for investors, recognizing the sad reality of a marketplace that has witnessed rates of return plummeting in recent months and years,” Dawson said. “Adjusting rates to be more in line with market realities is important if programs like these are to remain viable over the long term.”

Many analysts believe rates generally will continue to be depressed for the next 18 to 24 months and perhaps longer.

National Covenant Properties, which is an affiliate of the Evangelical Covenant Church, currently oversees $360 million in assets, working with more than 6,000 investors and administering some $260 million in loans.

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2 comments “National Covenant Properties Approves Rate Changes”

I wish my bank cared as much about my money as NCP. You do a good job!

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Your CD interest rates have not been updated on your website since July 2012. It would be helpful for this information to be current.

Editor’s note: Investment rates for National Covenant Properties can be found in the NCP area of the Covenant website –

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