Tuesday, March 5, 2024
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HomeAll The NewsHow Do We Associate? (Part 5 – BMA Financial)

How Do We Associate? (Part 5 – BMA Financial)

By Dr. Steve Crawley, Executive Director

Editor’s Note: The “Moving the Conversation Forward” article by Associate Editor Allan Eakin in the Dec. 20 issue introduced a series of articles we would feature at the beginning of the new year. The first of these articles — “How Do We Associate?” — appeared in the Jan. 10 issue.

In the Jan. 17 issue, we shared the stories of two of the ministries that are made possible because of the churches of the Baptist Missionary Association of Arkansas. We will return to the ministries from Arkansas in a future issue.

In the Jan. 24 issue, we shared the stories of the two largest ministries — BMA Global (Missions) and Lifeword — that are made possible because of the national association of churches — Baptist Missionary Association of America (BMAA). In the Jan. 31 issue, we shared the stories of the two departments that help maintain the identiy of our association — BMA Theological Seminary and Baptist Publishing House.

In this issue, we are sharing about two other national ministries that help churches extend the reach of what they could do on their own — Moral Action Agency and BMA Financial. (All articles in this series are being made available and accessible to everyone at BaptistTrumpet.com. Look for the “Why An Association of Churches?” Series graphic.)

      BMA Financial is an agency of the Baptist Missionary Association (BMA) of America located in Conway, Arkansas. I serve the agency as executive director, Mark Bradley serves as director of Insurance Services, Cherie Hall as Accounting & Administrative assistant, Ryan Johnson as chief development officer and Glenda Sellers as Human Resources coordinator. To keep costs low, these team members are classified as part-time employees but provide full-time care and support to those served.

      The agency’s mission is to assist BMA employees and churches in managing God’s money, God’s way, for God’s glory. BMA Financial, through its strategic partners, offers resources to aid both the pastor/staff and services to help the church at large.

      Created in its existing structure in April of 2023, the agency combines the former Ministers Resource Services, Ministers Benevolent Society, Auxiliary Benevolent Society and the BMA Foundation into a single entity. By incorporating these financial services under the BMA Financial umbrella, the organization is striving to streamline operations, enhance efficiency and reduce overhead expenses.

      The flagship service of BMA Financial is providing a qualified 403(b)(9) denominational retirement plan to its constituents. Any BMA church or entity is eligible to participate and take advantage of fully-vetted investment options and an array of other unique benefits derived from the plan. Further, the agency provides insurance services for BMA ministers and employees that encompass coverages for health, life, accidental death & dismemberment and disability. Risk Management Insurance is available to churches through a strategic partnership with Brotherhood Mutual Insurance Company. Comprehensive payroll services are offered through a low-cost arrangement with MinistryWorks. Moreover, the BMA Foundation provides the association with investment and management of funds to perpetuate the work of BMA departments through direct contributions, charitable gift annuities and estate planning.

      The greatest current challenge is persuading the decision-making body within BMA churches to utilize existing services. The association is stronger when its member churches work together. The more BMA churches and entities that participate, the better the agency can take advantage of economies of scale and serve their constituents with lower costs and better benefits. The primary goals for this year are to determine how to reduce costs further to operate the agency and to increase participation in the agency’s services.

      Our ministry personnel would relish meeting with your church or associational entity to discuss how they might serve you through BMA Financial. We desire to serve those who serve!

      For more information on BMA Financial, you can find us on the web at bmafinancial.org.

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