Q: Can I have the interest from my Term Certificate(s) directly deposited to my bank account?

A: Yes.  To receive an application form for this service either click here for a PDF version of the form or give us a call at 800.995.8574 and we will email or mail you the form.  Direct deposit of interest is only available for Term Certificates.

Q: Can I have money transferred between my Demand Certificate and my financial institution?

A: Yes, you can establish recurring investment transfers and/or upon request transfers. To establish recurring transfers, click here for an Automatic Investment Form.  For upon request transfers, click here for an Upon Request Electronic Transfers form that will allow us to create a link with your financial institution account. Once this link is established, you can request transfers to or from your financial institution account by calling us at 800.995.8574, e-mailing us at cif@efca.org, or faxing us at 952.853.1798. Transfers require at least two business days to process and requests must be received by 3:00 p.m. central time to meet that time frame.

Q: How do I change the amount of my automatic investment?

A: Using the Automatic Investment Form, let us know what changes you would like.  Please allow 30 days for the changes to go into effect.

Q: Can I make changes to the beneficiary I named on my account?

A: Yes, Click here for a Change of Beneficiary form.

Q: When establishing an Investment Certificate with Joint Tenancy ownership are both signatures required on the Subscription Agreement?

A: Yes. Both signatures must be on the Subscription Agreement, even if you already have a similar Investment Certificate.

Q: Which social security number is used for IRS tax reporting?

A: For an UTMA account, the social security number of the minor is used for reporting.  On Joint Tenancy accounts, we will generally report the interest earned under the social security number of the person who is named first on the subscription agreement. 

Q: What is an UTMA account?

A: UTMA stands for Uniform Trust to Minors Act.  Under Minnesota law, financial gifts to minors are held in custodial accounts under the minor's ownership until they reach 21 years of age.  After 21, the assets transfer to the sole ownership of the minor. 

Q: Are the Investment Certificates FDIC or SIPC insured?

A: No, Investment Certificates are unsecured debt obligations of CIF and are not insured.  Please refer to our Offering Circular for more information about this and other risk factors.

Q: Is there a penalty for early redemption of Term Certificates:

A: The penalty amount is 90 days of interest on a 1 year certificate, 120 days of interest on a 2 year certificate and 180 days of interest if the original investment was over 2 years.

Q: What is the procedure to redeem an Investment Certificate of a deceased investor?

A: The first step is to provide us with a certified copy of the death certificate.  If a paper certificate was issued, we will also need to have that returned to us.  We will then check the account records to determine the form of ownership and whether any beneficiaries were named.  If the investment Certificate was owned in Joint Tenancy, it will simply become the sole property of the surviving joint tenant.  If there were no surviving joint owners and there are named beneficiaries, we need a written request for redemption from each of the beneficiaries.  If no beneficiaries are named, we will need a copy of the court papers appointing the executor of the estate along with a written request from the executor for redemption of the Investment Certificate(s).  If the Investment Certificate is owned by a trust, we will need a written request from the trustee (or successor trustee if the deceased was the trustee).

Q: What do I do if I have lost my original Investment Certificate?

A: If your Investment Certificate was issued in paper form and you have lost your original certificate, you can get an Affidavit of Loss and Agreement of Indemnity Form or call us and we will send you one.  This form must be fully completed and notarized.  Since July 1, 2000 Demand Certificates have generally been issued in book entry form (no paper certificate) and since January 1, 2006, Term Certificates have generally been issued in book entry form.  If you are uncertain if your certificate was issued in paper or book entry form, please call us at 800.995.8574 and we will assist you.

Q: Will I be notified when I have a maturing Term Certificate?

A: Yes, we will send out a maturity notice at least 30 days in advance of the maturity date.

Q: How do I add money to my Investment Certificate?

A: To add to a Demand Certificate, simply complete and send in an Investment or Redemption Form along with your check.  Term Certificates can only be added to at the maturity date.  To add funds at that time, send in a check with your Term Certificate Maturity Notice and instructions.  You can purchase new Term Certificates at any time by filling out a new Subscription Agreement .

Q: How do I request the redemption of an Investment Certificate?

A: To redeem funds from either a Demand or Term Certificate, you can complete an Investment or Redemption Form or complete the bottom portion of your Term Certificate Maturity Notice.  Send either form to CIF for processing.  Full or partial redemptions are permitted.  Remember there is a penalty for early redemptions of Term Certificates.

Q: Do I have to fill out a new Subscription Agreement every time I purchase a new Investment Certificate?

A: It is important that the Subscription Agreement be properly completed for each Term Certificate so that the ownership and beneficiary information are clearly defined.  Additions to Demand Certificates do not require new Subscription Agreements.

Q: How often does interest compound?

A: Interest is compounded quarterly on both Demand and Term Certificates.

IRA FAQs

Q: What types of IRAs are available through CIF?

A: Traditional, Roth and Sep IRAs may be used to hold CIF Investment Certificates.  To determine which plan might be best for you, consult your financial or tax advisor.

Q: Why does there need to be a third party trustee involved when I invest IRA money in Christian Investors?

A: The Internal Revenue Code requires that IRA funds be held by a qualified trustee or custodian.  CIF does not have trust powers and thus cannot serve as trustee or custodian for IRA funds directly.  We do, however, have an arrangement with a trust company that will allow you to direct your IRA investment to any of our Term Certificates.