The union investment committee recently engaged in a discussion of the investments held by the union, and it reminded me of the parable of the talents (Matthew 25:14-30). The master entrusts three of his servants with various amounts of money. After a lengthy absence, the master returns and asks for an accounting of his money. One servant was given five talents, and doubled his talents; another servant was given two talents and was able to double them; and one servant was given one talent, which he hid away because he was afraid he might lose it. In the spirit of accounting for God's talents, let me share what is done to protect the investments of the church.

Very specific investment policies have been set up within the church organization to protect its monetary assets. About six years ago, the union set up an investment program that complied with working policy. It soon became apparent that while the investment program met the letter of the law, it was not benefiting the bottom line. Brokerage fees charged against our accounts were leaving our investments with little or no gain. The investment committee felt that the approach needed to be changed as quickly as possible.

The union terminated the brokerage agreement that had been in place and retained an investment counselor who has worked with many church organizations over the years. This has led to a diversified investment allocation for each fund that we manage at a much lower cost. At the same time, all investments are subject to socially responsible screening for Seventh-day Adventist values. Each fund has an individualized Investment Policy Statement based on the needs and requirements of that particular fund.

The investment options are reviewed on an annual basis by church leaders—who have expertise in the investment arena—to make sure that all investments are meeting the expectations of the church organizations.

In your personal finances and investments, are you willing to take high risks with personal funds? Most people aren't. Similarly, extra care must be taken to protect funds entrusted to the church for the advance of its mission. Occasionally, church boards have funds to invest, and someone involved knows about a "good deal." However, responsible stewards will make sure that the "good deal" will really give a return on the investment and not be a costly mistake for the church.

The change in philosophy at the union four years ago has provided savings in fees of more than $1.5 million. These are dollars that go back into the direct mission of the church. Because of the changes that have been instituted, I sleep much better at night knowing that, with the Lord's guidance and direction, the union has sound investment policies that safeguard the funds that have been entrusted to us. When the Master returns, I want to be able give Him a good report of the funds entrusted to me. To do this, I need to make sure that all of our investments are earning a proper return and following sound investment guidelines. I want the Master to say, "Well done, good and faithful servant."

If there is a particular question or topic that you would like to see covered in the future, feel free to contact me by e-mail at treasurer@puconline.org.

Ted Benson

Treasurer