O F F E R I N G P R O S P E C T U S
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Seventh-day Adventists have arrived
Organization of Caribbean Union Revolving fund
Purpose of the Revolving fund
Our primary purpose is to manage the financial affairs of the
Caribbean Union Corporation in the area of financial planning,
asset management, estate and gift planning, fund raising,
trust services, and loan assistance to Seventh-day Adventist
churches in the Caribbean Union and affiliated organizations.
We are organized and operated exclusively to advance the
mission of the Church. The Caribbean Union Revolving fund
is a nonprofit corporation incorporated in 2007. We have no
share holders and our affairs are administered by our Board
of Directors in accordance with guidelines of the Caribbean
Union Conference, articles of incorporation, and policies of
the General Conference of Seventh-day Adventists. Our Board
of Directors is elected by the Caribbean Union Conference
Executive Committee and meets regularly to establish and
monitor our policies.
We are separately incorporated from the Caribbean Union
Conference of Seventh-day Adventists, but we are closely
affiliated and have ties to it. One of our purposes is to support
the mission of the Church. We are engaged in fiduciary
activities by providing financial planning, asset management,
and trust administration services primarily to religious,
charitable, literary, educational organizations, and individuals
who contribute to those entities. The services are provided
in connection with endowments of non-restricted assets of
the non- profit Seventh-day Adventist organizations and in
connection with planned giving programs, charitable trusts,
and other types of estate planning trusts and individuals’
supplementary accounts and other employees’ benefit plans.
Caribbean Union Revolving Fund
To fulfill our purpose in the area of loan assistance to
Seventh-day Adventist churches, schools, and other affiliated
organizations, we operate the Caribbean Union Revolving
Fund through the sales of investment certificates.
The Caribbean Union Revolving fund is a nonprofit
organization with its principal office at 7 Rookery Nook,
Maraval, Port of Spain, Trinidad.
Proceeds are used to make loans to Seventh-day Adventist
churches and institutions throughout the Caribbean Union
territories from Suriname on the South American continent to
the United States Virgin Islands. Loans are made for building,
land purchase, renovation and other purposes.
The certificates are issued as general debt obligations
of the Caribbean Union Revolving fund. These securities
are not registered with the Trinidad and Tobago Securities
No broker, dealer, salesperson, or any other person is
authorized by the Caribbean Union Revolving fund to give
any information or to make any representation other than that
contained in the prospectus; nor is any person, other than its
board members or other duly authorized officers, to arrange
the sale of the certificates. The prospectus does not constitute
an offer to sell or a solicitation of an offer to buy any of the
certificates offered hereby in any island, to any person to
whom it is unlawful to make such an offer.
The certificates are offered and sold only through the
director, officers, board members, and employees of the
Caribbean Union Revolving fund. No underwriting or selling
agreement exists, and no direct or indirect commission
or other remuneration will be paid to any organization in
connection with the offer and sale of these certificates of
investment. Investors may purchase certificates of investment
in the amount of (US $1,000.00) or more. Certificates of
investment are issued by the Revolving fund as unsecured
obligations with fixed rates of interest.
This offering of certificates of investment is unlimited in
principal amount. The offering may be withdrawn at any
time. The investment certificates are offered for terms of
six months, one year, three years, and five years at rates of
interest set from time to time by the Revolving fund Board of
Directors considering the market forces applicable at the time
of offering. Other offerings may also be made by the Revolving
fund from time to time under other terms and interest rates.
Terms of the offerings
Participation by Seventh-day Adventist:
The sale of investment certificates allows Seventh-day
Adventists to assist in making capital available for loans
to build churches, health, educational facilities and other
denominational institutions, and to advance the mission of the
Seventh-day Adventist Church in the Caribbean region.
Individuals, Churches and other Institutions:
Seventh-day Adventist church members, as well as churches
and other denominational entities may purchase certificates
of investment, at the rate offered from time to time by the
Each investor receives a certificate of investment from the
Revolving Fund certifying that the named investor has made
an investment of a specific amount in the Revolving Fund.
The minimum investment is US $1000.00. The certificates of
investment are offered for cash and are transferable only with
the consent of the Revolving Fund when properly endorsed
and surrendered to the Revolving Fund for cancellation.
Interest and Maturity of Certificates:
Investors may choose to reinvest their interest or receive
interest quarterly or annually upon maturity. Alternatively
investors may choose to redeem the certificates or allow for
the automatic renewal of the certificate at the current interest
rate set by the Revolving fund.
Interest earned by individual investors is reported as ordinary
income for tax purposes.
We will walk the financial road with you
Repayment to Investors:
Repayment to investors depends on the management of the
Revolving fund as well as churches, schools, conferences,
missions, and other denominational institutions repaying their
loans. The Revolving fund maintains reserve funds to offset
the potential of churches or other denominational institutions
defaulting or unusual withdrawal activity by investors.
Certificates of investment represent general unsecured
deposits with the Revolving fund with varying dates of
maturity. Thirty days before the maturity date each investor
will be sent a written notice of the pending maturity of a
certificate. This investor may elect to request payment in
full or, subject to the Revolving fund’s policy, to reinvest for
another period at the rate of interest declared for subsequent
The Revolving fund relies on the investor’s good faith
agreement for the entire period or term of his/her certificate
of investment. If withdrawal is made before the maturity
of a certificate, there is a three-month penalty of interest.
The penalty is charged to the principal withdrawal and, if
a deficiency still exists, then it is applied to any principal
remaining on deposit.
Investors may elect to have their interest distributed
annually, quarterly, or upon the maturity of the certificate.
Unless distribution of interest is requested, it will be reinvested
The Revolving fund owns certain assets which are used in
its operational activities, including loans to denominational
institutions. Within its scope of service, the Revolving
fund manages funds for individuals, Seventh-day Adventist
churches, conferences, mission and other institutions. A
portion of these managed funds may also be invested in
capital pools to make loans.
Most of the loans made by the Revolving fund are secured
by first lien mortgage, but investors who invest in the Fund are
lending money to the Revolving fund for the general purpose
of making loans to churches and other denominational
institutions. Investors do not have actual participation in any
specific loan made by the Revolving fund. The certificates are
not secured by any asset or property of the Revolving fund.
The repayment of the investment, together with the interest
therein, will be dependant on the Revolving fund’s collecting
the loan made to individual churches and the accountability of
other allocated funds and property of the Revolving fund.
There is no public market for the certificates and none will
be developed. Therefore the transferability of the certificates
is limited and restricted to a specified person or entity. No
sinking fund or trust index will be received by the Revolving
fund in connection with the existence of certificates. The
proceeds from the certificates will be deposited into a pool for
the purpose of making loans.
Repayments of the proceeds for the sale of certificates
to investors is dependant solely upon the Revolving fund’s
financial condition, management, and marketable assets
which may include loans, cash, investments, real estate, and
its line of credit with a financial institution. Other services
and programs exist which may provide greater security at
little or no risk, and investors are encouraged to examine such
investment options before investing in the Revolving fund.
Loans may be given for up to ten years. The certificates
mature at various times so if a significant number of investors
fail to renew their investment certificates and new investors
are not located, the Revolving Fund could possibly experience
liquidity short falls in repaying all the certificates which
mature at any given time. As a reserve against the potential
of withdrawal by investors, the Revolving Fund maintains
liquidity in cash and near liquid assets of 15-20% of the
principal balance of the outstanding certificates of investment.
An independent auditor conducts an annual audit of the
Revolving fund’s financial records and activities. This report of
audit will be published in the Caribbean Union Gleanings, the
web site and will be available to all investors upon request.
Criteria for Loans:
The Revolving fund Board of Directors has established
strict loan guidelines and a formal loan review is regularly
conducted by the Loan Committee. Information required as
part of loan application guidelines may include, depending on
the size of loans, description of project, business plan, cash
flow statement, copies of bank statement, approved plans
(where appropriate), financial statement, approval by boards
of institution, and the approval and fiscal guarantee by the
conference, mission, or union authority executive committee
whichever is applicable as per policy.
Loans are approved on the basis of the value of the
investment that the church or institution has in the Fund,
evidence to repay the loan, funds in hand or value of equity,
and a capital campaign program to complete the project.
Loans amount directed to finance not more than 80% of the
total projected cost, with a maximum loan payment of 10
years. It is expected that in some cases the real property
of the borrowing institution may be pledged as collateral. In
some cases, the Revolving fund may require an independent
survey and/ or valuation of such property.
A legal agreement will govern each loan transaction. In
some cases, the borrowing entity will be required to pay the
Notwithstanding the foregoing, every loan shall be subject to
the Investment, Loan and Administrative Guidelines of the
Revolving fund, which may be amended from time to time.
Method of Offering and Withdrawal of Subscription:
Notices or advertisements of this offer may be directed to
Seventh-day Adventists in the Gleanings, by direct mail, and
by presentation or flyers distributed to churches conferences,
mission, denominational entities, and individuals.
The Revolving fund reserves the right at any time to
withdraw all or any part of the investment offered without
notice. There is no minimum amount that must be raised,
and if the entire amount of the offering is not needed for the
project intended, the offering may be withdrawn and the
We will MANAGE your estate
acceptance of subscription suspended.
Expenses of the offering:
The expenses of the offering include legal fees. Printing and
postage costs are provided for in the annual operating budget
of the Revolving fund.
Inquires may be directed Monday through Friday to the
Caribbean Union Revolving fund , 7 Rookery Nook, Maraval,
Port of Spain, Trinidad. The telephone number is 1- 868-
622 2514. Information is also available at Caribbean Union
Conference and the email address is:
Board of Directors:
The Revolving fund is managed by a thirteen-member board of
directors who are elected by the Caribbean Union Conference
executive committee to serve for three years. These individuals
are chosen from across the Caribbean Union territory, and are
qualified and competent in the various specialties necessary
for the efficient managing of the Board. They are:
Treasurer of the Caribbean Union Conference
Executive Secretary of the Caribbean Union Conference
Dr. Eugene Daniel
President of the Caribbean Union Conference
Planning & Trust Services Director / CEO of CURF
Economist, Chairman of the Investment Committee,
Chairman of the Island Development Council
of the SDA Churches in Barbados.
Treasurer of the Revolving fund/Chairman of the Loans
Stephen Pilgrim, Esq.
Vice President, Office of Developing & Planning
University of the Southern Caribbean
Administrator of Davis Memorial Hospital, Guyana
Planned Giving &Trust Services Director
of the Guyana Conference
Corporate Attorney in the Firm of J.D. Sellier & Co.
Vice President for Marketing of Mega Insurance
Chairman of the Trust committee
Sharon St. Hilaire-Neverson
Banker at Royal Bank of Trinidad and Tobago
In addition to the board of directors we have representatives in
each field who can be contacted for information on investment
opportunities. They are as follows:
Nord Punch 1-473-442-8002
South Caribbean Conference:
Teelbaney Singh 1-868-662-7024
Joseph Mc Coon 1-868-662-7024
St. Lucia Mission:
Eddison Alexander 1-758-451-6350
Jean Greaves 1-758-452-0797
Mahase Ragoonath 1-868-684-7468
Brian Jones 1-868-633-4226
Sharon St. Hillaire Neverson 1-868-653-7288
Winston James 011-592-226-3313
Bertie Henry 011-592-225-9327
East Caribbean Conference:
Raulford Baptiste 1-246-429-7234
Peter Whitehall 1-246-437-2667
Ein Kirk 1-868-639-1222
Lindon Gudge 011-597-400-609
J Roseval 011-597-400-609
North Caribbean Conference:
Dr. Winston Richards 1-340-778-6589
Fitzroy Dickenson (Antigua) 1-268-462-4793
Carson Greene (Antigua) 1-268-462-6067
We will help your NAVIGATE
Your participation provides you with the greatest opportunity to
make a significant difference in the growth and development of the
Seventh-day Adventist Church in the Caribbean Union territory.
It is a win-win deal! The rates of return on your money are greater
than what you can get from most commercial banks. We will also
have the personal satisfaction that the money is used to advance
the mission of the church and to build better churches, universities,
hospitals and other institutions, in the shortest possible time.
This is our opportunity to make a difference in the lives of our
To God be the Glory!
Caribbean Union Foundation
Offering the Sale of Investment Certificate
Total Principal Amounts Unlimited
The Caribbean Union Foundation
#7 Rookery Nook, Maraval
Trinidad, W. I.