The Apostolic Mutual Newsletter - English 2023

THE VISION MOVING FORWARD

“PLAN, PREPARE, BUILD”

By Eddie Campa, Executive Director

I have trusted my retirement account with Transamerica for many years; nothing should come as new when I receive quarterly statements. However, I was in disbelief when I opened my 4th quarter statement; I was in disbelief. I had lost almost 20% of my retirement. I realize that in time I should be able to recover what was lost and even more than that; however, it was a difficult pill to swallow.

It is nothing new to us. The economy, just like anything else, goes through seasons and adjustments that can make it difficult for everyone. What are some of the factors that have recently impacted the U.S. economy? We can start with inflation. Inflation is the overall cost increase for goods and services, decreasing the dollar’s purchasing power. Have you seen your grocery bill rise lately? The price of eggs and milk has increased, among many other items. Factors contributing to inflation have been increased employee wages, supply chain issues, and energy costs. All these, along with other factors, directly impact inflation.

DIRECTORS & EXECUTIVE OFFICERS

JOSEPH RODRIGUEZ, CHAIRMAN

ANDY PROVENCIO, VICE CHAIRMAN

EDDIE CAMPA, EXECUTIVE DIRECTOR

MARTIN AMADOR, SECRETARY

GIL AGUILAR, TREASURER

JORGE MONTES, DIRECTOR

LEOBARDO MAFFEY, DIRECTOR

SUZANNE VALENCIA, DIRECTOR

YVONNE VASQUEZ, DIRECTOR

GEORGE LOPEZ, DIRECTOR

LOAN COMMITTEE

ANDY PROVENCIO

JESSE VALDEZ

EMMANUEL VASQUEZ

MARIO PLASCENCIA

ADRIAN DIAZ

FINANCE COMMITTEE

GIL AGUILAR

SUZANNE VALENCIA

ISAI BAEZA

COMPLIANCE COMMITTEE

JORGE MONTES

YVONNE VASQUEZ

ERICKA JUÁREZ

STAFF

ABRAHAM MAFFEY, ACCOUNTANT

ESTEBAN ROBLEDO, LOAN OFFICER

EVA RODRIGUEZ, ASSIST. EXECUTIVE DIRECTOR

MICHELLE E. GONZALEZ, FINANCIAL ANALYST

ELIZABETH ORELLANA-CAUDILLO, EDITOR

DOMINIC MOSCHETTI, CREATIVE DIRECTOR

Aside from inflation having an impact on our economy, the surging rise of interest rates increases the cost of loans for families, small businesses, churches, and organizations. Rising interest rates also impact the stock market, causing investors to take losses. Although it is too early to tell, there is the possibility that we are headed to an economic downturn.

Even in times of economic uncertainty, we must look ahead with a positive outlook. We continue to dream and plan; however, we move forward wisely. We move into a season of saving and preparation for the right time. I like the advice that Solomon gives:

Do your planning and prepare your fields before building your house.

Proverbs 24:27 NLT

Before building the house, before building the dream, planning, and preparation are required. Solomon said to prepare the fields. Sow the seeds and reap the harvest so that there is adequate income to support the dream.

As you work on your financial plan for this year, consider Apostolic Mutual as an option to open a Certificate of Deposit or even an Individual Retirement Account to supplement what you already have. As interest rates increase, so will ours. We look forward to offering higher rates on our Deposit Accounts to help the churches and the members of the Apostolic Assembly prepare for plans. With our new systems now in place, depositors can now view their accounts online.

WELCOME TO APOSTOLIC MUTUAL

By: Sister Elizabeth Caudillo

Apostolic Mutual is thrilled to announce the appointment of its new board of directors. We congratulate Bishop Joseph Rodriguez, who has been promoted to Chairman of the Board of Directors. In this role, he will lead the board in ensuring Apostolic Mutual’s success and growth.

Additionally, Bishop Andy Provencio has been named Vice-chairman, while Bishop Martin Amador will serve as the Secretary of the Board of Directors. Gil Aguilar, a Certified Public Accountant, will take on the role of Treasurer, and the board also includes Bishop Leobardo Maffey, Attorney Jorge Lopez, Suzanne Valencia, CPA, Attorney Yvonne Vazquez, and Pastor Jorge Lopez.

Apostolic Mutual would like to extend its gratitude to Bishop John Fortino and Bishop Felipe Lugo for their years of dedicated service on the board. Their contributions have been invaluable in shaping the success of Apostolic Mutual. Their leadership laid the groundwork for a dream to come true!

With this talented and experienced team in place, Apostolic Mutual is poised for continued growth and success. We are confident that these new appointments will help this organization fulfill its mission of serving the Church with excellence.

We once again welcome our new board members and look forward to a bright future.

Bishop Joseph Rodriguez Chairman of the Board of Directors

Bishop Andy Provencio Vice-Chairman

“PLAN, PREPARE, BUILD”

continued from page 2

On behalf of the Apostolic Mutual Team, I pray you had a successful start to your year. We look forward to working with the pastors, churches, and members of the Apostolic Assembly. Let us move forward in the dream of building the church.

APOSTOLIC MUTUAL LUNCHEON REVIEW

This past November, our Apostolic Mutual team celebrated the victories and reflected on the challenges of the journey. Our team came together at the Westin Hotel for a luncheon to honor the arduous work of our staff and directors. A dream that became a reality.

The luncheon was hosted by our Apostolic Mutual staff to simply highlight the work of our Former Bishop President, John Fortino, and the executive AM board under his leadership, which includes our past National General Treasurer, Felipe Lugo, as well as our Former General Secretary, Bishop Joseph Rodriguez.

By: Sister Elizabeth Caudillo

Those in attendance can agree that the year strides of 2022 were great. Bishop Leobardo Maffey congratulated our Former General Treasurer, Felipe Lugo, for the excellent work and reports presented at the legislative meetings. In addition, Pastor Eddie Campa was honored for his work in taking Apostolic Mutual to another level. In addition, he thanked all the board members and finance committee for their expertise and input, which in turn benefits our pastors and their churches. We are proud of the work that has been done and much more yet to do.

DILA CONFERENCE EXPERIENCE, SEPTEMBER 2022

By Sister Eva Rodriguez

DILA Conference 2022 challenged and inspired our Apostolic Mutual and our Real estate team that attended this past year’s conference.

DILA (Denominational Investors & Loan Administrators) is an informal fellowship that meets to help maximize the effectiveness of not-for-profit entities organized to provide loans to various affiliated churches and related religious organizations within their Denomination by providing networking opportunities and educational resources. It is a forum for problem-solving and discussion of best practices in an environment where each participating organization can actively participate in discussions, voice opinions, and share information. It brings up-to-date awareness and understanding of key happenings in the industry. (DILA)

This past year, Apostolic Mutual and the Apostolic Assembly Real Estate department had the privilege to attend this conference as a team. At the conference, we received cross-training on many topics like; Legal, Marketing, Lending Operations, Investment Operations, Risk Management / Cybersecurity, Organizational Development, and a few more to help us to improve our services. We also had the opportunity to do a team exercise, which allowed us to grow together and learn about each other. We had the opportunity to

interact with other entities where we shared our best practices in what has helped us grow and, vice versa, learn from their experiences and practices. We felt very proud and honored to represent our organization, Apostolic Assembly of the Faith in Christ Jesus, at this great conference. We are ready to use the tools we learned to continue the work!