Money Market Account
The Everence Money Market Account at Urban Partnership Bank
Our Money Market Account provides depositors with a convenient and liquid option for their cash deposits. These accounts give you the flexibility of easy access to your money along with a typically higher rate of return than our traditional checking and savings products. Funds in these accounts are FDIC insured.
In keeping with the Everence commitment to seeking innovative ways to channel investment dollars to underserved communities, all Everence Money Market Account assets are held at Urban Partnership Bank, a Chicago-based bank with additional branches in the urban neighborhoods of Cleveland, Ohio, and Detroit, Mich.
- Minimum initial deposit: $1,000
- Minimum subsequent deposit: $50
- Liquidity: Free check writing - account holders may write unlimited checks ($250 minimum per check) against the account. (Check writing not available for retirement accounts.)
- Safety: Assets in the Everence Money Market Account are FDIC insured for up to $250,000 per depositor.
- Convenience: It's easy to move assets between the Everence Money Market Account and Praxis Mutual Funds by telephone or written request.
- Account types: Available only for individuals, trusts and nonprofit organizations. Individual accounts may include joint accounts, custodial (UGMA/UTMA) accounts and IRA accounts.
- Yield: Current rate is 0.15 percent. Annual percentage yield is 0.15 percent.
Please note that you will be able to access your Everence Money Market Account only through Praxis Mutual Funds. Everence Capital Management will act as your agent for making deposits to and withdrawals from your Money Market Account and will maintain the records of your account. You will not be able to access your account or obtain balances by contacting Urban Partnership Bank directly.
About Urban Partnership Bank
Urban Partnership Bank is an FDIC-insured, full-service community development bank with $1.4 billion in assets. The bank was created in August 2010 when it acquired the assets of the former ShoreBank from the FDIC.
Urban Partnership Bank works together with individuals, small businesses, nonprofits, foundations and faith-based organizations to provide access to responsible financial services and products in distressed urban communities that often cannot be obtained through other sources. The bank is led by a team of experienced financial services professionals with roots in the communities they serve.
Urban Partnership Bank's mission is to make a difference every day:
- Serving our customers,
- Building vibrant urban neighborhoods,
- Promoting economic and environmental sustainability, and
- Creating long-term success for our communities and bank.
For additional information about Urban Partnership Bank, call (800) 905-7725 or (773) 420-5050, or visit Urban Partnership Bank.
Everence Capital Management and Urban Partnership Bank are not affiliated. The Everence Money Market Account is not distributed by BHIL Distributors Inc.
An investment in the Praxis Mutual Funds is not a deposit in a bank account and is not insured or guaranteed by the FDIC or any other government agency.
You should consider the fund's investment objectives, risks and charges and expenses carefully before you invest. The fund's summary prospectus and prospectus contains this and other information. Call (800) 977-2947 or visit www.praxismutualfunds.com for a prospectus, which you should read carefully before you invest. Praxis Mutual Funds are advised by Everence Capital Management and distributed through FINRA member BHIL Distributors Inc. Investment products offered are not FDIC insured, may lose value and have no bank guarantee.
The Everence Money Market Account is FDIC insured (subject to FDIC rules and limits) for up to $250,000 through Urban Partnership Bank. Please note, however, that for purposes of determining the FDIC coverage, any money that you have on deposit directly with Urban Partnership Bank will be combined with the amount on deposit in your Everence Money Market Account.