Circuit Rider Fund Launched to Refinance Clergy Student Debt

The program offers up to $50,000 in low-interest refinancing and required financial education for ordained clergy.

The United Methodist Foundation of Michigan is pleased to announce the launch of the UMF of Michigan Circuit Rider Fund LLC, a new initiative designed to help ordained clergy reduce the burden of educational debt and strengthen long-term financial well-being. The program allows eligible elders and deacons in the Michigan Conference of The United Methodist Church to confidentially refinance up to $50,000 in qualifying student loan debt at a fixed interest rate of 1.5 percent.

“For many years, we have known that clergy student loan debt is a growing and often overwhelming challenge,” observed Rev. Dr. David S. Bell, President and Executive Director. “The rising cost of higher education, combined with the financial realities of pastoral ministry, can leave gifted leaders carrying unsustainable debt loads. The Circuit Rider Fund is one tangible way that we can offer life-changing support.”

This initiative is about far more than reducing an interest rate. It is designed to relieve the significant financial and emotional weight carried by many pastors, allowing them to serve with greater clarity, energy, and peace of mind. When clergy experience greater financial stability, it strengthens not only their personal well-being but also the vitality of the congregations and communities that they are called to lead.

Sharing a personal reflection that helped shape his passion for the program, Bell added, “I still remember what it felt like to graduate seminary and carry student loan debt into the early years of ministry. I wondered how the payments would fit into my modest pastoral salary. I felt an incredible sense of relief and freedom not just financially, but emotionally and spiritually, when that final loan installment was paid. I desire for pastors to devote their full hearts and minds to the call that God has placed on their lives and not to be overwhelmed with the worries of student loan debt.” The Foundation’s board of directors committed $500,000 to this program, leveraged a partial matching commitment from Wespath Benefits and Investments for an additional $250,000, plus obtained an initial planning grant through Lilly Endowment, Inc.

“Our hope is that the Circuit Rider Fund becomes another sign of the Foundation’s commitment to care for pastors,” Bell added. “The Circuit Rider Fund reflects our belief that supporting clergy in this way is an investment in the future vitality of The United Methodist Church.”

For additional information, contact Rev. Joel Fitzgerald at 888-451-1929 or Joel@UMFMichigan.org.

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Wayne C. Barrett Steward Leader Awards

Application Portal Open

The Wayne C. Barrett Steward Leader Award was established by action of the Board of Directors of the Foundation upon Dr. Barrett’s retirement as President and Executive Director. The purpose of this award is to honor up to four United Methodist congregations across the Michigan Conference for their exemplary stewardship ministry and culture of generosity.

Qualified applicants must submit an application prior to March 15th . Award recipients must meet eligibility requirements including:

Have funds invested in the UMF Collective Investment Funds of Michigan LLC
Have contributed 100% of its conference ministry shares for the previous year and be current in contributions for the present fiscal year
Demonstrate a collaborative relationship between the pastor and laity in providing leadership in the area of financial stewardship
Articulate a clearly defined mission and vision for the church
Adhere to the financial procedures and protocol as defined in the Book of Discipline of The United Methodist Church, including but not limited to:
Socially responsible investing
Annual financial review
Cash management
IRS-compliant donor contribution statements
Provide an advance indication of their intent for the awarded funds’ usage
Have not been a recipient of the Award in the past five (5) years

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Rev. Jeff Regan Retirement Announced

The United Methodist Foundation of Michigan celebrated the retirement of Rev. Jeff Regan, Senior Director of Stewardship, at the end of last year. His past twelve years of faithful service have left an enduring mark on the Foundation and its ministry. His contributions were also meaningfully recognized as the Foundation celebrated its centennial anniversary last fall.

Jeff’s leadership was especially instrumental during the reunification of the former Detroit Conference United Methodist Foundation and the West Michigan United Methodist Foundation – a pivotal moment in our history. During that season of change, he brought steadiness, wisdom, and a deep sense of purpose which helped shape the strong, unified organization that we are today.

Over the years, Jeff provided trusted guidance to countless churches and pastors, walking alongside them with clarity, patience, and deep respect for their callings. His ability to combine financial expertise with pastoral sensitivity strengthened United Methodist ministries across Michigan and supported the long-term vitality of the Church.

Reflecting on Jeff’s impact, Rev. Dr. David S. Bell, President and Executive Director shared, “Jeff’s commitment will continue to shape our work well into the future. Through his integrity, faithfulness, and empathy, he modeled what it means to lead with humility, conviction, and grace.”

As we give thanks for Jeff’s extraordinary service, we extend our warmest prayers to him and his wife, Linda, in retirement. May this next chapter be filled with rest, new adventures, and abundant time with family.

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