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Best Church Rate:6.46%+
Extension FundUnited Church of Christ (open to any Christian church)Independently reviewed
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UCC Church Building & Loan Fund

Should your church choose UCC Church Building & Loan Fund?

We review every church lender on the same published criteria in our lender review methodology. Here's the short answer first.

Since 1853
Oldest in the US
4K+
Congregations partnered
Zero
2008-era foreclosures
All 50
States covered
The take

For any Christian church, especially smaller projects that value below-market rates and a 173-year institutional track record, CB&LF is one of the most distinctive options in the niche.

The Church Building and Loan Fund, known as CB&LF, is the oldest institution of its kind in the United States. It was founded in 1853 in Albany, New York, as the First National Church Building Society by Congregationalists who would later become part of the United Church of Christ. The institution started as a grant-making society, helping churches build with denominational support rather than commercial financing. Lending operations began in 1895, which means CB&LF has been making church loans for roughly 130 years and has been a continuous institutional presence for 173. Either way, no other church lender in the country can claim a track record at this scale.

The track record is verifiable and worth taking seriously. According to CB&LF's published materials, loan partners maintain a 90 to 95 percent repayment rate and the institution did not have a single church foreclosure as a direct result of the 2000s mortgage crisis. That is a real institutional outcome, not marketing language, and it reflects a conservative underwriting culture that has compounded over decades. The fund operates today from Cleveland, Ohio, alongside its sister organization Cornerstone Fund (which is the UCC's investment-note vehicle, a separate institution). CB&LF itself does not issue investment notes; it focuses on the lending side and partners with Cornerstone for the investing side.

What makes CB&LF unusually open is the denominational policy. The fund's published policy is that it will lend to UCC congregations and "any Christian Church in the United States regardless of sect or denominational affiliation." That is unusual for a denominational extension fund, most of which restrict lending to a single tradition. For smaller Christian denominations that lack their own fund, CB&LF is one of the few real options at this scale. The fund explicitly markets rates below commercial bank rates, though specific rate ranges are by inquiry and not published.

The product set is broad for a fund this size. Building purchase, site and land acquisition, construction loans (convertible to permanent), refinancing, small loans up to $100,000, green loans for sustainability and energy upgrades, disaster recovery loans up to $1 million, and the Partners in Vision pre-development coaching program. The Partners in Vision engagement is unusual: for complex projects CB&LF will spend six to twenty-four months with a church on scoping, planning, and feasibility before any lending conversation begins. That coaching model, paired with mission-aligned underwriting that weighs project context alongside pure credit factors, is part of why the foreclosure record is what it is.

The trade-offs are scale and transparency. The maximum standard loan is $5 million, with CB&LF partnering with other lenders for projects above that. Total assets and current outstanding portfolio are not publicly disclosed in dollar terms (recent UCC press references roughly $20 million in financing in a recent period, but that is not a cumulative figure). Underwriting specifics including maximum LTV (down payment runs 10 to 30 percent by product), minimum DSCR, time to close, and exact rate ranges are not published. You apply to learn the specifics for your project. And the institutional model is structurally different from fast-moving commercial lenders, so churches that need a quick transactional close should look elsewhere.

Our recommendation, in one sentence: shortlist CB&LF if your church is UCC, or any Christian church seeking below-market rates and a 173-year institutional track record on a project under $5 million. Run the ChurchLend readiness assessment first so you walk into the conversation already understanding the seven factors any lender will weigh.

The detail

Where UCC Church Building & Loan Fundwins, and where it doesn't

What works

Oldest church-lending institution in the United States

Founded in 1853 as the First National Church Building Society, CB&LF is the oldest institution of its kind in the country. The fund started as a grant maker and began lending in 1895, so the actual lending track record is 130 years, not 173. Either way, no other church lender has been at this longer.

Verified rare-foreclosure track record

CB&LF reports a 90 to 95% repayment rate and, importantly, did not foreclose on a single church loan during the 2000s mortgage crisis. That is a real institutional record. The conservative underwriting that produces it translates to patient capital for borrowers.

Open to any Christian church

CB&LF lends to UCC congregations and 'any Christian Church in the United States regardless of sect or denominational affiliation.' That is unusual for a denominational extension fund and makes CB&LF a real option for smaller Christian denominations that fall outside the major fund-aligned traditions.

Below-market rates

CB&LF positions itself as a below-market-rate lender vs commercial banks. The lending is underwritten through a mission lens rather than profit maximization. Specific rates are by inquiry, but the qualitative claim is verified across multiple sources.

What to weigh

Loan max $5 million

CB&LF caps loans at $5 million in most cases and partners with other lenders above that. For very large building projects, you will need to combine CB&LF with another lender or look elsewhere entirely.

Underwriting specifics are not published

Maximum LTV (down payment 10 to 30% by product), minimum DSCR, time to close, and exact rate ranges are not disclosed. CB&LF underwrites through a mission lens, but you have to apply to learn the specifics for your project.

Smaller institutional scale

CB&LF does not publicly disclose total assets the way larger extension funds do. Recent press references roughly $20 million in financing in a recent period, but cumulative or current outstanding portfolio figures are not public. The institution is older and more storied than it is large.

Investment products are with sister organization, not CB&LF directly

CB&LF itself does not appear to issue investment notes. The UCC's investment-note vehicle is the separate Cornerstone Fund. The two are sister organizations under UCC Financial Ministries, but the lending and investing functions are split between them.

Eligibility

Is your church the right shape for UCC Church Building & Loan Fund?

Best for

  • United Church of Christ congregations
  • Any Christian church seeking below-market rates
  • Smaller projects (under $5M loan size)
  • Congregations doing mission-aligned work that benefits from the Partners in Vision coaching

Look elsewhere if

  • Very large projects above $5 million (need a second lender)
  • Borrowers needing fully published rate transparency
  • Churches in denominations with strong existing extension funds
  • Borrowers who need a fast, transactional close
vs. The market

How UCC Church Building & Loan Fund stacks up

Compared against typical commercial-bank terms for church loans of similar size.

Years institutional
UCBSince 1853
Typical20 to 75 yrs
Better
Years lending
UCBSince 1895
Typical20 to 75 yrs
Better
Foreclosure record
UCBVery few
TypicalSome history
Better
Rate level
UCBBelow market
TypicalMarket
Better
Loan size max
UCB$5M
Typical$5M to $50M
Slower
Denominational fit
UCBAny Christian
TypicalSingle denom
Better
Loan products

What UCC Church Building & Loan Fund actually lends on

Building purchase & construction

Mortgage loans for acquiring church property and construction loans for ground-up builds. Construction loans convert to permanent at completion.

Site/land & refinance

Land acquisition loans for churches building from scratch. Refinance loans for churches currently with a higher-rate lender.

Small loans & green loans

Loans up to $100,000 for smaller capital needs. A dedicated green loan program for sustainability and energy-efficiency upgrades.

Disaster recovery & pre-development

Disaster Recovery Program for up to $1 million when a church needs to rebuild after a natural disaster. Pre-development loans and grants under the Partners in Vision program for churches in the planning phase.

What to expect

The UCC Church Building & Loan Fund application timeline

  1. 1
    Phase 1

    Partners in Vision

    For complex projects, CB&LF starts with a 6 to 24 month coaching engagement under Partners in Vision. The fund helps the church scope, plan, and validate the project before any lending conversation.

  2. 2
    Phase 2

    Inquiry

    Initial conversation with CB&LF about the project, congregation, and rough financials. UCC affiliation is a plus but not required.

  3. 3
    Phase 3

    Application

    Full submission of financials, governance docs, project details, and any planning work from Partners in Vision.

  4. 4
    Phase 4

    Underwriting

    Credit review, mission-alignment assessment, appraisal for real estate. CB&LF underwrites through a mission lens, not just credit metrics.

  5. 5
    Phase 5

    Close & fund

    Term sheet, legal review, and closing. Construction loans fund per draw schedule.

FAQs

What pastors ask us about UCC Church Building & Loan Fund

Is CB&LF really the oldest church lender in the US?
CB&LF was founded in 1853 as the First National Church Building Society, making it the oldest institution of its kind in the United States. They started as a grant maker and began making loans in 1895. So 173 years institutional, 130 years of lending.
Can my church borrow from CB&LF if we are not UCC?
Yes. Per CB&LF's published materials, they lend to 'any Christian Church in the United States regardless of sect or denominational affiliation.' That is unusual for a denominational extension fund and makes them a real option for smaller traditions without their own fund.
How does CB&LF differ from Cornerstone Fund?
Both are UCC-affiliated and operate under UCC Financial Ministries. CB&LF (founded 1853) is the older institution with the longer lending track record. Cornerstone Fund (founded 1993) is a separate investment-note vehicle with a broader product range. CB&LF does not issue investment notes; that function is at Cornerstone.
What is Partners in Vision?
CB&LF's pre-development coaching program. For complex projects, the fund engages with a church for 6 to 24 months before any lending conversation, helping scope, plan, and validate the project. Some loans never need this phase; others benefit from it substantially.
Are CB&LF rates really below market?
Yes, qualitatively. CB&LF positions itself as a below-market-rate lender vs commercial banks, and that claim appears across multiple UCC and external sources. Specific rate ranges are by inquiry; the only way to know your actual rate is to apply.

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