God's Financial Wisdom
Proverbs is one of my favorite books of the Bible, because I love to read it and see how God's wisdom stands the test of time. The book is several centuries old, and almost all of the advice remains as practical and relevant to our day as it did in Solomon's age.
Sadly, like most things in life, it often takes hardship and tragedy for us to realize that God knows what He is talking about. So when God says, “Do not be a man who strikes hands in pledge or puts up security for debts,” in Proverbs 22:26, we all understand the wisdom of that today. But if you told that to someone 3 years ago, they would have laughed and said that God doesn’t understand the current market.
That’s one of the reasons Christian-owned financial firms are doing surprisingly well at the moment. With Wall Street suffering massive losses from the housing crisis, companies like the Evangelical Christian Credit Union (ECCU), which provides banking for churches and ministries, are actually growing in the current conditions.
"We don't do residential mortgages or investment vehicles that have underlying mortgages," Mark Holbrook, president of ECCU, said in an article in Christianity Today. "The vast majority of churches and ministries are fundamentally sound."
Christian companies like this are seen as a safe place right now, and deposits at ECCU, which manages $3 billion in assets, are up 12 percent this year.
Sounds like they have a strong foundation to weather the current storm. Wait, does that sound familiar?
Sadly, like most things in life, it often takes hardship and tragedy for us to realize that God knows what He is talking about. So when God says, “Do not be a man who strikes hands in pledge or puts up security for debts,” in Proverbs 22:26, we all understand the wisdom of that today. But if you told that to someone 3 years ago, they would have laughed and said that God doesn’t understand the current market.
That’s one of the reasons Christian-owned financial firms are doing surprisingly well at the moment. With Wall Street suffering massive losses from the housing crisis, companies like the Evangelical Christian Credit Union (ECCU), which provides banking for churches and ministries, are actually growing in the current conditions.
"We don't do residential mortgages or investment vehicles that have underlying mortgages," Mark Holbrook, president of ECCU, said in an article in Christianity Today. "The vast majority of churches and ministries are fundamentally sound."
Christian companies like this are seen as a safe place right now, and deposits at ECCU, which manages $3 billion in assets, are up 12 percent this year.
Sounds like they have a strong foundation to weather the current storm. Wait, does that sound familiar?
posted by Editor at 10:00 AM
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