Revolving Fund/SURF FAQ

What is the primary obligation of SURF?
Notes: The principal obligation of SURF is evidenced by 90-day demand notes and/or 90-day renewable term notes with an interest rate not exceeding the maximum set annually by the North American Division. Actual rates are established by the SURF board. All notes are demand notes, callable at any time by the SURF board. Early withdrawals may include a penalty. Notes are issued exclusively to members of the Seventh-day Adventist Church and denominational entities, and are only promoted within the Southern Union. Notes may also be issued to denominational entities serving as trustee. If a denominational Association is trustee, interest is paid to the trustee, not directly to the trustor.

How do I acquire notes?
Individuals may purchase notes directly from the Revolving Fund through their local conference, or purchase notes by establishing a revocable trust through their local conference, which are invested in SURF.

Why should I use Revolving Fund?
When you save money in the Revolving Fund, you assist other congregations to build or buy a church, and you earn a return on your investment. Revolving Fund then makes funds available to churches, schools, and certain other conference institutions at a lower rate of interest.

How do I participate?
To open an account, a $1,000 minimum check payable per your conference’s instructions, is all that is needed. (Accounts must keep a minimum balance of $1,000. If a withdrawal request comes in that brings the balance below $1,000, the account will be closed. Once an account is closed we cannot open a new account for 90 days). Please request the exact amount of money that you need.
If you enter into a revocable trust agreement (see Trust Services page) with your local Conference Association, request that they invest your money in a Revolving Fund Note.
Your church and school may also invest in a Note with Revolving Fund.
If you enter into a self-administered revocable living trust (RLT), you may choose to invest your money in SURF. If you open a RLT, you are responsible for including the income on your personal tax return. SURF mails 1099s by January 31st of each year.

May I withdraw my funds?
Yes! A portion or all may be withdrawn at any time without penalty; however, please consider these to be long-term investments
Your money is in a 90-day demand note/90-day renewable term note. In most cases, we can mail the check the same week that you request the funds, if your request is over $100,000 please request the money two weeks before you need the funds.
Interest is paid to the date of withdrawal.
Your 90-day demand note is financing churches that have loans up to 20 years.
We cannot accept monies that you will need within the year the account is opened.
The purpose and goal of the SURF has always been to provide low cost loans to churches and institutions in the Southern Union as well as providing a reasonable rate of return to our faithful investors who are willing to invest long-term to fund church growth in the Southern Union.
We recognize that circumstances change and emergencies arise. Thus, a portion of the net assets in the Revolving Fund are held for such needs. This is in accord with the North American Division Working Policy and is in the by-laws of the Revolving Fund.
The Revolving Fund return, when taking eternity into consideration, is far more than just money.

How is my interest calculated?
Interest is compounded monthly.
Interest is calculated using a 365/366 day year.
If you have invested over $10,000 dollars in SURF, you may choose to request a quarterly withdrawal check.

Are my funds needed?
Yes! Thanks to your investments. Churches and schools in your local conference can grow!
The Revolving Fund can only lend funds to churches and schools if there are investments by the constituents of the local conference.

Disclaimer: This information about the Southern Union Revolving Fund, Inc. (SURF) and its unsecured notes is not an offer to sell, or a solicitation of an offer to buy, any of the SURF notes, nor shall any of the SURF notes be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities law of such jurisdiction. The offering of SURF notes is being made only by means of a prospectus (offering circular) that may be obtained from SURF and which contains detailed information about SURF (including financial statements). The SURF notes are not insured by the Federal Deposit Insurance Corporation nor are guaranteed by the Federal Reserve Board or any other government agency. To obtain a copy of the current prospectus (offering circular) applicable to prospective purchasers of SURF notes in a particular state, please contact the Southern Union Revolving Fund at 770-408-1800.