Using the Right Financial Services Makes Ministry Banking Easier and More Efficient
One advantage of banking with a financial institution that understands what you do is that they design financial services with your operating practices in mind. A key to making the most of these services is to use the right ones for the right things [read more]
Cash Flows Well when It’s Managed Wisely
Managing cash flow is a ministry function that nobody notices until you’re suddenly short on cash. It can be a challenge to have adequate cash during a time of year when giving traditionally dips. How can you wisely manage cash this summer? To find out, we asked executive pastors at several churches around the country. Four themes emerged from these conversations. [read more]
How to Manage Unpredictable Cash Flow
Compare your ministry’s summer income to year-end. Quite a contrast, hey? No organization, profit or nonprofit, receives revenue at a predictable pace. Inability to manage this... [read more]
Cash Reserves: An Online Calculator for Good Stewardship
Knowing how much liquid cash to keep on hand is difficult. That’s why ECCU offers ministries a three-step education on how to factor the cash reserves they need, plus an online calculator to determine... [read more]
With Cash Reserves, One Size Does Not Fit All!
I’m sort of a hat snob. To me, fitted hats are much cooler than the one-size-fits-all kind, even the elastic ones like I got at a golf tournament last year. At first I thought, “Hey, this is pretty comfortable.” But by the fifth hole, it felt like... [read more]
Is Saving Part of Your Spending Plan?
It might be a stretch to say that the day my wife and I started using a budget changed our lives, but not a big stretch. That day we substituted being frugal (our alternative to budgeting) for actually knowing our financial status. It was... [read more]