Sunday, July 21, 2024
Sunday, July 21, 2024
HomeAll The NewsMRS/BMA Foundation Announces New Name

MRS/BMA Foundation Announces New Name

Minister’s Resource Services’ (MRS) board of directors is pleased to announce its official name change to BMA Financial Services, which will do business as BMA Financial. The new organization comprises the merging of two national agencies — Minister’s Resource Services (MRS) and BMA Foundation — and combines existing financial services provided to the association into one entity. While the Foundation will remain a separate legal entity, it will now be under the auspices and governance of BMA Financial.

This decision, recommended by both the MRS and BMA Foundation boards, was endorsed by the BMA Coordinating Council and approved by the churches at the 2023 national meeting held in April. The new agency, through its strategic partners, offers our churches financial services encompassing retirement and benefit programs for BMA ministers and employees, benevolent services, risk management insurance, payroll services, Foundation investment management, charitable gift annuities, and financial and estate planning assistance. The new name better reflects the array of services offered.

This change also eliminates the need for two executive directors and two separate boards, thus improving overall efficiency and resulting in better stewardship of the churches’ resources. The measure should reduce costs while providing economies of scale for the management of the retirement and endowment funds.

“By incorporating these financial services under the BMA Financial umbrella, the organization aims to streamline operations, enhance efficiency and reduce overhead expenses,” said Dr. Steve Crawley, the newly elected executive director of BMA Financial. “This consolidation of resources will allow us to better serve our constituents by doing more with less.”

The branding process of BMA Financial will come in stages. Plan participants will see gradual changes, starting with digital materials and  including a new website. Until the revamping of the site is completed, will serve as the online access point for BMA Financial.