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2009 Conversations


Sara Groves
12.21.08

Keith and Kristyn Getty
12.14.08

Jesse Miranda
11.30.08

Heather Bland
11.23.08

Cathleen Lewis
11.16.08

Robert Leathers
11.9.08

Ravi Zacharias
10.26.08

Scotty Gibbons
10.19.08

George O. Wood
9.28.08

George O. Wood
9.21.08

G. Robert Cook Jr.
9.14.08

Michelle LaRowe Conover
8.31.08

Janet Boynes
8.24.08

Kirk Cameron
8.17.08

Laura Wilkinson
8.10.08

Melody Rossi
7.27.08

Randy Travis
7.20.08

Maylo Upton-Aames
7.13.08

Chuck Norris
6.29.08

Francis Xavier 'Chip' Flaherty Jr.
6.22.08

Ben Carson
6.15.08

Robert H. Spence
6.8.08

Maj. Gen. Jeffrey Schloesser
5.25.08

R. Albert Mohler Jr.
5.18.08

James K. Bridges
5.11.08

Manny Mill
4.27.08

Brock Gill
4.20.08

Robert Burt
4.13.08

Gerry Hindy
3.30.08

J.I. Packer
3.23.08

Stanley Horton
3.16.08

Linda Mintle
3.9.08

Joanna Weaver
2.24.08

Buck Taylor
2.17.08

Debra Risner
2.10.08

Bill Glass
1.27.08

Edward Gilbreath
1.20.08

Rob Seagears and Andy Casper
1.13.08


2007 Conversations


2006 Conversations


Conversation: Gerry Hindy

Kingdom-motivated financial solutions

Gerry Hindy, chief executive officer of AG Financial Solutions, recently visited with Hal Donaldson, editor-in-chief of Today's Pentecostal Evangel. Hindy has served with AGFS since January 2006.

tpe: Why was AGFS created?

HINDY: A vision was born for an organization that would provide growth and development of investment and lending strategies to assist Assemblies of God ministers, churches, and others within the Fellowship.

tpe: What is the mission of AGFS?

HINDY: We are driven by deeply rooted biblical values to provide financial solutions to churches and individuals with the highest levels of performance and trust to maximize the growth and wealth of the Kingdom.

tpe: What services does AGFS provide congregations and pastors?

HINDY: We offer life-stage financial solutions for individuals and ministries. Life-stage solutions are designed so that no matter what state of growth a church is in or whatever goals a minister might have, we can introduce products and services that will assist in meeting those needs.

Our church loan and capital campaign divisions partner with churches to fund the vision God has given them. We also help individuals make good stewardship decisions by explaining how their investment will impact the Kingdom. No matter if they would like to leave a gift to ministry, have need of investment advice, or ensure their investments are screened for questionable business lines, we have a solution.

Ministry is at the heart of what we do. Through our planned giving division, we assist others in directing their resources to various ministries of their choice. Over the past 10 years, AGFS has assisted individuals and organizations in directing more than $160 million toward ministry.

tpe: With markets shifting, how does the financial picture look for AGFS?

HINDY: The assets under management at AGFS continue to grow despite current volatile financial markets. We believe there is a certain amount of comfort that comes from knowing your resources are invested directly into God's work, not to mention that in most cases returns are often at a premium to the market.

Currently we have more than 55,000 customers who have entrusted us with their assets consisting of retirement accounts, investments and savings accounts, trusts, estate plans and other types of financial investments. Approximately 95 percent of these assets have a rate of return on investment expectation.

tpe: How does AGFS help the General Council accomplish its mission?

HINDY: When we were formed in 1998, we were established to help resource the local church and the national office of the General Council. A substantial portion of our annual earnings is directed in the form of a dividend to the General Council which, under the direction of the Executive Presbytery, allocates it among various ministries and departments. Recently, the Executive Presbytery adopted a plan committing 10 percent of this dividend for new church planting. This is something the AGFS team members and leadership are very excited about and wholeheartedly support.

tpe: Why should AG ministers invest in and request loans from AGFS rather than other financial institutions?

HINDY: At AGFS, we understand our customers expect the same high level of performance and service they would receive from other financial institutions. We also understand the unique circumstances surrounding the needs of faith-based ministries and clients. Therefore, we proactively offer solutions that provide premium investment rates and very competitive lending rates, collectively working together to help grow the Kingdom while giving our customers peace of mind.  Although the AG affinity relationship we enjoy often gives us an opportunity to propose services, we often find ourselves competing with local financial institutions with no assurance we're going to win the business.

tpe: What does AGFS do with the profits on its investments? Does it reinvest them? Distribute them to stakeholders?

HINDY: As mentioned above, 95 percent of the assets that AGFS manages have a return on investment expectation, therefore earnings are used to provide this return to the ministries and laity who have invested with us, whether it be through their retirement accounts or in the form of loan certificates. Of course, these resources are the ones used to help our churches and various ministries.

Also, as previously mentioned, a substantial portion of our earnings are returned to the General Council in the form of a dividend, which is then redistributed to ministries and departments in accordance with and oversight of the Executive Presbytery. The balance of undistributed earnings are then used to provide our customers and clients with a safe and secure investment vehicle by maintaining appropriate levels of capital and liquidity, as determined by those regulatory agencies we are responsible to, and to grow the organization.

tpe: Who controls the investment of AGFS funds and disbursement of profits: the General Council or the AGFS board?

HINDY: AGFS is a separate legal entity governed by a board of directors approved by the Executive Presbytery. The board is made up of ministers, business people and members of the Executive Leadership Team of the General Council. The resources of AGFS are governed by a number of separate boards whose fiduciary responsibility is to ensure the resources are managed and distributed in accordance with its founding principles. For example, Ministers Benefit Association has a separate board whose sole responsibility is the oversight of the investment activities of MBA. Dr. George Wood, the general superintendent of the Assemblies of God, chairs this board.

tpe: What are the credentials of the AGFS executive team?

HINDY: Our executive team is made up of individuals who have been successful in the secular business world but also share a strong commitment to God and ministry. Members of our executive team have significant and varied business experience. This experience includes ownership of a portfolio of businesses in varied industries, management of privately and publicly held financial institutions, investment advisory services, accounting services, lending solutions and public company financial management.

For more information on our executive team, please go to agfinancial.org.

E-mail your comments to tpe@ag.org.

 

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