Finances, CARES and PPP Loans, UCC Insurance Info & Conducting Business

Finances, CARES and PPP Loans, UCC Insurance Info & Conducting Business

Insurance Board ~ Conducting Church Business  ~  CARES Act   ~   Families First Coronavirus Response Act  ~  Additional Resources

Church Finances

Webinars:

Conference Staff have held three webinars to date on Church Finances during COVID-19. Find recordings here:

  • Third webinar - July 1
    Hosted by Kent Siladi, Bridge Conference Minister; Charles Kuchenbrod, Executive Associate Conference Minister; Lee Gagen, Fundraising and Development Specialist; David Cleaver Bartholomew, Transitional ACM for Stewardship and Financial Development; Rev. Dr. Ginger Brasher-Cunningham, First Church, Guilford, CT; and Mary Nelson, South Central Regional Conference Minister.
     
  • Second webinar - May 28
    Discussion of the results of the financial section of the Conference’s all church survey, including: negotiating the long haul and post-PPP options; encouraging generosity and continued “giving” during these anxious times; what other churches are doing successfully.

  • First webinar - April 16
    Discussion of new legislation (e.g., the CARES Act and the Family First Coronavirus Response Act) and how it may affect your church; receiving offerings and donations during a time of no public worship; encouraging generosity and continued “giving” during these anxious times; what other churches are doing successfully.

Resources:

  • Unexpected Money Can Become Unexpected Generosity  Rev. Dr. David Cleaver-Bartholomew encourages churches to invite members and friends of their congregations to donate a portion or all their stimulus check to a charity.
    -  He also provides a Sample Letter churches can use - available here in Word and PDF.
     
  • Scarcity or Generosity?  By Rev. Dr. David Cleaver-Bartholomew,  Transitional  Associate Conference Minister for Stewardship and Financial Development. We can resist the demon pulling us to focus on what we lack and are losing, and instead more fully embrace our abundance and move to generosity, by staying grounded in, and drawing upon, the abundant life we’ve experienced in Jesus Christ and in our relationships, by working together, and encouraging one another.
     
  • Extravagant Generosity During a Pandemic
    By Rev. Andrew Warner, Generosity Outreach Officer for the United Church of Christ. Includes four alternatives for church giving when in-person worship has stopped, including a chart of fees for payment processors. 
    (See March 26 video of Andrew Warner speaking with the Bridge Conference Ministers)
     
  • 'Be Not Afraid' About Church Finances During This Time
    By Charlie Kuchenbrod, Executive Associate Conference Minister.  What to do now if you share financial oversight responsibilities for your congregation.
     
  • Tax Laws and Giving to Your Church
    Updated! Recent tax law changes provide people an opportunity to make tax-free charitable contributions to your church from your IRA
     
  • Baker-Polito Administration Announces $10 Million Small Business Recovery Loan Fund
    MA churches impacted by COVID-19 will have access to capital assistance under this small business program.


UCC Insurance Board 

         Please visit the Insurance Board website for excellent resources. Contact info for regional agents.


Conducting Church Business


CARES Act and Paycheck Protection Program


Families First Coronavirus Response Act

  • Webcast Video: Families First Act: Response to the COVID-19. Heather E. Kimmel, General Counsel for the United Church of Christ, offers information on the new Families First Coronavirus Response Act, which may cover some churches that are not ordinarily covered under federal employment laws. 

    Heather Kimmel has provided a memorandum and summary chart to help explain the new law. There is also an excellent summary of what we know thus far available at the Church Law and Tax website here.
     
  • Information on reimbursement for part-time leave may be found in items 20-22 of this Q&A from the Department of Labor, which also contains a wealth of other details.  Español
  • Department of Labor requires churches to post this information.

Additional Resources
 

  • Coronavirus and the Church: The Latest News and Advice from Church Law & Tax
    Church Law & Tax, a subscription service,  is offering this free page is designed to help churches assess the legal, tax, financial, and risk management considerations of this rapidly changing situation—and then make sound decisions.
     
  • www.ucc.org/coronavirus

    Our denominations web site is an excellent source of information and resources.

  • Congregational Finance LLC 
    Another well-researched subscription-based resource to consider provided by the Rev. Karen McArthur.  Includes regular updates on major legislative and regulatory issues affecting local churches, with implementation tools designed for church treasurers and finance teams.  Subscriptions are currently $25/year.

 

Top SBA Lenders in Connecticut:

state Rank

Bank

Headquarters

# Loans

1

Webster Bank

Waterbury, CT

112

2

People's United Bank

Bridgeport, CT

80

3

TD Bank

Wilmington, DE

64

4

Liberty Bank

Middletown, CT

52

5

M&T

Buffalo, NY

39

6

Newtek Small Business Finance

Lake Success, NY

26

7

Wells Fargo

Sioux Falls, SD

21

8

Berkshire Bank

Pittsfield, MA

18

9

KeyBank

Cleveland, OH

17

10

First Home Bank

Saint Petersburg, FL

13

11

Santander Bank

Wilmington, DE

13

12

Newtown Savings Bank

Newtown, CT

12

13

Citizens Bank

Providence, RI

12

14

United Midwest Savings Bank

De Graff, OH

12

15

Celtic Bank

Salt Lake City, UT

10

16

Thomaston Savings Bank

Thomaston, CT

9

17

Savings Bank of Danbury

Danbury, CT

8

18

JPMorgan Chase Bank

Columbus, OH

7

19

Stearns Bank

Saint Cloud, MN

7

20

Live Oak

Wilmington, NC

6

 

Top SBA Lenders in Massachusetts:

State Rank

Bank

Headquarters

# Loans

1

Eastern Bank

Boston, MA

421

2

TD Bank

Wilmington, DE

153

3

Webster Bank

Waterbury, CT

94

4

Citizens Bank

Providence, RI

51

5

Santander Bank

Wilmington, DE

51

6

Leader Bank

Arlington, MA

50

7

Salem Five Cents Savings Bank

Salem, MA

42

8

Cambridge Savings Bank

Cambridge, MA

39

9

St. Mary's CU

Marlborough, MA

36

10

People's United Bank

Bridgeport, CT

25

11

UniBank for Savings

Whitinsville, MA

25

12

Berkshire Bank

Pittsfield, MA

23

13

Nortern Bank and Trust

Woburn, MA

22

14

United Midwest Savings Bank

De Graff, OH

20

15

Century Bank and Trust Company

Somerville, MA

20

16

Needham Bank

Needham, MA

19

17

Live Oak

Wilmington, NC

18

18

Cape Cod Five Cents Savings Bank

Harwich Port, MA

17

19

Independence Bank

East Greenwich, RI

17

20

Bristol County Savings Bank

Taunton, MA

17

21

First Home Bank

Saint Petersburg, FL

16

22

Cornerstone Bank

Worcester, MA

16

23

Newtek Small Business Finance

Lake Success, NY

13

24

Avidia Bank

Hudson, MA

13

25

Rockland Trust Company

Rockland, MA

13

 

 

Top SBA Lenders in Rhode Island:

State Rank

Bank

Headquarters

# Loans

1

Navigant CU

Smithfield, RI

22

2

Webster Bank

Waterbury, CT

18

3

Bank Rhode Island

Providence, RI

17

4

HarborOne Bank

Brockton, MA

16

5

Freedom National Bank

Greenville, RI

16

6

Greenwood CU

Warwick, RI

10

7

TD Bank

Wilmington, DE

10

8

Citizens Bank

Providence, RI

9

9

Independence Bank

East Greenwich, RI

9

10

Bristol County Savings Bank

Taunton, MA

8

11

Santander Bank

Wilmington, DE

8

12

Newtek Small Business Finance

Lake Success, NY

6


Subscribe to our emails
Framingham, MA Office

1 Badger Road
Framingham, MA 01702
508-875-5233
Fax: 508-875-5485

Hartford, CT Office

125 Sherman Street
Hartford, CT 06105
866-367-2822 (Toll Free in CT)
860-233-5564

General Email: friends@sneucc.org