In 1978, the Evangelical Covenant Church established Covenant Estate Planning Services to enable those with a love for Covenant ministries to make significant legacy gifts through stewardship-centered estate plans and provide management for those dollars in a professional and effective way. Over time, it became evident that there was also a need to provide professional trustee services, and in 1988, the ECC formed Covenant Trust Company.
But why a trust company? Trust companies perform many investment, estate planning, and financial management services. They act as trustees and manage the trusts and estates of their clients, assisting in the distribution of assets: making sure they go to the correct people and organizations as set forth in the governing document. Essentially, a trust company ensures people’s plans for their assets are carried out while they are alive and after they pass away. You can understand why such a service is so appealing to members of the Evangelical Covenant Church who not only want to give to the church and its ministries, but also take care of their family in the present and the future.
Importantly, trust companies are held to the fiduciary standard. For Covenant Trust Company, this means that we don’t simply manage assets for our clients and their beneficiaries: we do so while acting in their best interest. Every decision we make, every investment, every transaction is driven by what is best for the people and organizations who trust us with their money and assets; their well-being and plans for the future; their wishes for their families, friends, and Covenant ministries they support.
Being a fiduciary is fundamental to who we are as a company. Covenant Trust Company has always acted and will continue to act as a fiduciary on the accounts we manage: not only for the retirement accounts, but for the trusts and investment management accounts as well. We not only act as a fiduciary, putting the best interest of the client front and center, but embrace the duty. As a faith-based trust company, we would not have it any other way.