Savings for Not-for-Profit Organizations

Only not-for-profit organizations, such as churches and religious organizations, homeowners associations and other nonprofits. The NSS Investment Growth Fund is not available to individual investors or for-profit businesses.

It is underwritten by the National Slovak Society of the USA (NSS Life), a fraternal benefit society that has served organizations since 1890 and reports more than $1.8 billion in assets. The fund is not insured by the federal government.

According to NSS, in a conservative portfolio held mostly in investment-grade corporate bonds and government-backed securities, plus some preferred stock, mortgage loans and cash. The NSS Board of Directors reviews and approves the investment policy every year.

Interest compounds daily. The rate is set and reviewed periodically by the NSS Board of Directors and can change with market conditions. The organization chooses whether to take interest as regular payments or leave it to compound.

NSS states there are no front-end or back-end loads, no fees or expenses, and no withdrawal penalties.

Withdrawals of $100 or more can be made at any time. A full withdrawal is available on written notice signed by the organization’s President and Treasurer.

A $5,000 minimum initial deposit and a $4,000 minimum balance. Additional deposits of $100 or more can be made at any time.

The treasurer receives an annual activity report, and statements are available at any time through the NSS online member portal. Accounts are confidential.