Presentation to —

[CHURCH/ORGANIZATION]

[City, State] [Date]

[Name][Title]

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United Church Funds — Overview

The trusted investment partner of over 1,000 local churches and ministries of the United Church of Christ

Over $797 million in assets under management*

Thirteen investment funds, with socially responsible fund options

Experienced leadership in the development, management and governance of endowments

* As of November 30, 2014

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Our mission in four words —

Invest responsibly. Strengthen ministry.

United Church Funds lives its mission by —

Investing wisely to help our investors achieve their financial goals for their ministries

Using the power of ownership to effect positive change, believing a responsibly managed company makes a better long-term investment

Offering our investors a range of options and resources to strengthen their portfolios, their endowment management, and the ministries they value

Our Mission

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For over 100 years, United Church Funds (UCF) has served the churches and ministries of the UCC

UCF offers professional investment management services in a not-for-profit structure, reducing costs and providing more money for ministry

With experienced leadership overseeing carefully chosen fund managers who represent some of the best minds on Wall Street, and a commitment to responsibility in ecumenical collaboration, UCF offers a unique opportunity for investors seeking to do well and do good

United Church Funds’ Structure

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UCF INVESTMENT COMMITTEE

Veteran financial professionals from avariety of backgrounds volunteer their time and expertise to establish UCF’s investment policy and overall strategy

CHIEF INVESTMENT STRATEGIST

David Klassen and his team manage

asset allocation among a carefullychosen set of managers, and

ensure daily oversight of UCF’s portfolios

INVESTMENT CONSULTANT

Summit Strategies provides the Investment Committee and Chief Investment Strategist with manager research, due diligence and monitoring

INVESTMENT MANAGERS

A diversified group of managers selected for their particular

expertise and experience in a given asset class or investment

style

Investment Management Governance &

Process

Investment Process — Management

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Our investment committee approves allocations to investment managers based on the recommendation of the Chief Investment Strategist, with input from our external consultant

Based on market conditions, and in alignment with UCF’s Investment Policy, the investment team may overweight or underweight certain asset classes, or allocate to managers with an investment strategy that achieves portfolio goals

Investment Process — Asset Allocation

Chief Investment Strategist David Klassen, CFA

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Our investment team works through our investment managers, who are ultimately responsible for specific security selection

Our investment team tracks and manages our investment managers to ensure they remain competitive with benchmarks and peers, and remain true to their strategy, risk profile, and UCF’s social responsibility mandate

Investment Process — Investment Selection

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UCF uses recognized benchmarks relevant to each fund’s asset class, and creates custom benchmarks for our funds of funds

Our investment team uses benchmarks to track the performance and risk profile of our funds, making tactical changes and shifting manager allocations — even manager selections — based on manager performance and risk profile against the benchmark

Investment Process — Benchmarks

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UCF offers 13 funds —

• Six actively managed funds with exposure to fixed income, domestic equity, international equity, and alternatives

• Six funds of funds providing managed allocations consistent with varying risk profiles

• A money market fund

UCF works to help each investor understand their risk tolerance so that they can choose funds consistent with their long-term objectives

A Family of Funds — Traditional Offerings

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A Family of Funds — Beyond Fossil Fuels

On November 1, UCF opened the Beyond Fossil Fuels Fund — an enhanced index domestic equity fund free of companies that extract or produce fossil fuels

For investors who prefer to invest in a balanced fund, UCF also offers the Beyond Fossil Fuels Balanced Fund, which will substitute the domestic core equity portion of the Moderate Balanced Fund with a similar allocation to the Beyond Fossil Fuels Fund

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In 2015, UCF anticipates opening a fund focused on community finance and inclusive, global microenterprise

A Family of Funds — Impact Investing

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Corporate Engagementsto encourage better policies & practices

Shareholder Resolutionsas a tool to strengthen engagement

Collaboration with Key Partners including the Interfaith Center on Corporate Responsibility and US SIF, and as a signer to the UN Principles for Responsible Investing and the Carbon Disclosure Project

Proxy Votingconsistent with UCC values & goals

Screened Portfolioscurrently excluding tobacco, alcohol, gambling, and military products/services

Social Responsibility — a Multi-Faceted Approach

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Current Shareholder Engagements — Environmental

Carbon Asset Risks Addressing oil companies’ unburned reserves

Greenhouse Gas Emissions Encouraging sustainable oil production

Hydraulic Fracturing Demanding disclosures on fracking process and fracking fluid additives

Water Highlighting manufacturers’ water use in water- stressed regions and the human right to water

Sustainable Agriculture Persuading food conglomerates to use practices that ensure safe, sustainable food production

RECENT WIN

Seventy investor partners, including United Church Funds, have expanded the public’s awareness of the potential risks companies continue to incur by counting unburned fossil fuels as assets on corporate balance sheets.

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Current Shareholder Engagements — Social

Child Labor & Trafficking Eliminating child labor on African cocoa farms

Human Rights Challenging inmate care in private prisons

Ethical Employment & Discouraging profit-making from Occupation Operational Practices support in Israel

RECENT WIN

Faith-based investors celebrated the multi-pronged effort to de-legitimize bank payday loans. Through shareholder resolutions, United Church Funds has long participated in the investor group challenging the financial responsibility and predatory nature of payday lending at Wells Fargo.

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Current Shareholder Engagements — Governance

Corporate Political Lobbying Demanding disclosure of gifts and lobbying by oil and gas, banking and private prison corporations

Corporate Board Diversity Ensuring corporations express gender and racial diversity

Management Compensation Encouraging responsible compensation practices

RECENT WIN

After co-filing a resolution regarding the lobbying practices of Occidental Petroleum in 2014, UCF celebrated this company’s decision to quit its membership in the American Legislative Exchange Council, an environmentally detrimental organization dedicated to drafting legislation jointly with lawmakers and corporate representatives.

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Socially Responsible Investing — New and Upcoming Offerings

As challenges facing our world grow, United Church Funds actively seeks opportunities to enhance our values-based portfolio and options for investors Beyond Fossil Fuels Fund

Large cap equity fund free of fossil fuel companies

Impact Investing Fund*

Mission-aligned investing focusing on community finance and inclusive, global microenterprise

Evaluation of Core Practices

Examining exclusionary screens, optimizing client resources and refining the existing Social Action Fund* Opening in 2015

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Trust Services UCF offers a full range of trust

management services —I.e. The Richard & Helen Brown Endowment for Pastoral Scholarships, has provided more than $5 million to train pastors over the last 14 years

Planned Giving Management of gift annuities,

charitable trusts and other legacy gifts

Educational resources for gift development

Financial Education Seminars, workshops,

conferences

Investor Services at United Church Funds

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UCF’s Investor Services team answers the telephone directly when clients call during office hours — no voice menu to navigate!

UCF’s Investor Development team meets face-to-face or by conference call for periodic portfolio reviews

In addition to quarterly statements and daily updated account information, UCF hosts live performance webinars each quarter featuring the Chief Investment Strategist and his team

Investor Services at United Church Funds

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Building a Legacy — Supporting Church Endowments

UCF provides educational resources to help churches better understand the essential elements of building a strong endowment and related policies

UCF manages administration and marketing of legacy giving for the UCC, with resources under development to assist churches and organizations in creating sustainable legacy programs

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Building a Legacy — Supporting Planned Giving

Since the inception of the UCC’s planned giving program, United Church Funds has served as the fiscal agent for the program

UCF supports local churches and ministries as they develop endowment giving programs — providing educational resources and assisting churches as they grow their legacies

Unlike a commercial broker or bank, UCF stands ready to be your trusted partner to grow your endowment by helping your church create new gift opportunities

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Committed to keeping expenses low and reporting transparent, UCF maintains fully-inclusive expense ratios for all funds.

Established annually based on anticipated expenses and assets

Inclusive of all manager expenses

Inclusive of all administrative, transaction and custody expenses

Not subject to 12b-1 fees or sales commissions

Charged to funds on a quarterly basis before performance is calculated

One Single, Comprehensive Expense Charge

2015 Expense Ratios

Cash & Equivalent .00%

Fixed Income .58%

Domestic Core Equity .62%

Beyond Fossil Fuels .85%

Small Cap Equity 1.41%

International Equity 1.23%

Total Equity 1.03%

Conservative Balanced .82%

Moderate Balanced .89%

Aggressive Balanced .95%

Beyond Fossil Fuels Balanced

.96%

Alternatives Fund 1.56%

Alternatives Balanced 1.07%

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United Church Funds appreciates the opportunityto present our hope and desire to share in and support

the mission and ministry of [insert name here!}

Thank you!

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APPENDIX

Contents —

United Church Funds Staff

Board of Directors & Investment Committee

Individual fund details

Disclaimer

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UCF Staff

Donald G. Hart President and Chief Investment OfficerThe Rev. Cheri L. Lovell Director, Marketing & Strategic InitiativesKathryn O. McCloskey Director, Social ResponsibilityThe Rev. Nelson R. Murphy Director, Investor DevelopmentTheodore E. Phillips Director, Finance & AdministrationMilagros Hernandez Investor Services Team LeaderMatthew W. Wagner Investor Development AssociateCrysta Seelal Investor Services RepresentativeKaren Sherman-Chang ControllerMichele Hamilton Staff AccountantCarla Bergmeier Communications SpecialistLynne Hansen Planned Giving AssociateGaylord Tang Administrative Assistant

Contracted Services from The Pension Boards — UCC

David A. Klassen Chief Investment StrategistMichael J. de Guzman Senior Investment Analyst

info@ucfunds.org 877-806-4989 ucfunds.org

United Church Funds Staff

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Board of DirectorsMr. Nesa Joseph, ChairThe Rev. Geoffrey A. Black, ex

officioThe Rev. Dr. Charles BuckThe Rev. Kathy DwyerMr. William EpkeMs. Barbara EverettMs. Sylvia G. Ferrell-JonesMs. Edith GuffeyMr. Steven J. GuyThe Honorable Brian F. HolemanThe Rev. Dr. Sandra HulseThe Rev. Gwendolyn V. KirklandThe Rev. Penny L. LowesMs. Stella A. SchoenThe Rev. Harold S. SchultzThe Rev. Bernard Wilson, ex officioMr. Wade Zick

Members EmeritusThe Rev. Dr. Harold C. Smith

Investment Committee

Mr. Steven J. Guy,* ChairMr. Dennis BusheMs. Sylvia G. Ferrell-Jones*Mr. Donald G. Hart, ex officioMr. Douglas HatfieldThe Rev. Dr. Sandra S. Hulse*The Rev. Gwendolyn V. Kirkland*Mr. Mark Parthemer

Member EmeritusThe Rev. Dr. Harold C. Smith

* Members of the Board of Directors

Board of Directors & Investment Committee

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Q3 2014 Performance

Year One Two Three Five Ten

To Date Year Years Years Years Years

Fixed Income Fund 10/1/1994 -0.57% 3.21% 3.54% 0.88% 2.58% 4.11% 4.62%Custom Index 85% Barclays Capital Gov't/Credit Bond, 5% JPM GBI-EM Global Diversified, 10% S&P LSTA Performing Loan

-0.17% 3.73% 3.80% 0.82% 2.43% 4.21% 4.56%

Domestic Core Equity Fund 10/1/2005 0.45% 8.70% 20.08% 19.75% 23.54% 15.58% N/AS&P 500 Index 1.13% 8.34% 19.73% 19.54% 22.99% 15.70%Small Cap Equity Fund 10/1/2005 -4.79% -0.83% 9.55% 19.49% 22.07% 12.52% N/ARussell 2000 Index -7.36% -4.41% 3.93% 16.26% 21.26% 14.29%International Equity Fund 10/1/2005 -6.15% -2.10% 2.55% 7.73% 10.65% 6.11% N/ACustom Index 70% EAFE net, 30% MSCI EM net -5.13% -0.18% 4.36% 10.28% 11.76% 5.79%

Alternatives Fund 7/1/2010 3.79% 5.94% 10.01% 8.16% 6.74% N/A N/A

Custom Index 70% HFRI Funds of Funds Composite, 30% NCREIF Fund Index 0.39% 3.55% 7.20% 7.83% 7.05%

Total Equity Fund42.7% Domestic Core Equity, 10.6% Small Cap Equity and 46.7% International EquityCurrent Policy Index 40% S&P 500, 10% Russell 2000, 35% EAFE,15% MSCI Emerging Markets Net -2.86% 2.77% 10.31% 14.62% 17.21% 11.47% 6.71%Conservative Balanced Fund 1/1/200638.0% Equity, 57.0% Fixed Income and 5.0% C&ECurrent Policy Index 35% Equity Policy, 65% BCGC -1.11% 3.46% 6.12% 5.55% 7.58% 6.99%Moderate Balanced Fund63.0% Equity, 32.0% Fixed Income and 5.0% C&ECurrent Policy Index 60% Equity Policy, 40% BCGC -1.78% 3.22% 7.75% 8.99% 11.28% 8.83% 6.20%Aggressive Balanced Fund 1/1/200678.1% Equity, 17.6% Fixed Income and 4.3% C&ECurrent Policy Index 75% Equity Policy, 25% BCGC -2.19% 3.06% 8.72% 11.09% 13.50% 9.86%Alternatives Balanced Fund 7/1/201056.1% Equity, 22.3% Fixed Income, 21.6% AlternativesCurrent Policy Index 50% Equity Policy, 30% Fixed Income Policy and 20% Alternatives Policy -1.40% 3.28% 7.79% 9.18% 11.13%

10/1/1994

circa 1958

ANNUALIZED

Returns on UCF's funds are presented net of fees QuarterInception

Date

MAN

AG

ED F

UN

DS

FUN

DS

OF

FUN

DS

-3.31% 2.34% 10.15% 13.69%

-1.64% 2.83% 6.09% 5.47%

-2.31%

17.00% 10.95% 5.82%

7.81% 6.77% N/A

2.61% 7.69% 8.60% 11.32% 8.39% 5.71%

-2.72% 2.51% 8.76% 10.61% 13.59% 9.38% N/A

-1.14% 2.90% 8.14% 8.91% 10.83% N/A N/A

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Fixed Income Fund

Benchmark 85% Barclays Capital US Gov’t/ Credit Index5% JPMorgan Gov’t Bond Index: Emerging Markets Global Diversified10% S&P LSTA Performing Loan

Managers Standish Emerging MarketsPension Boards UCCWestern Asset

Invested primarily in intermediate & long-term US Dollar government and investment-grade corporate fixed income obligations, with up to 10% emerging markets debt

YTD 9/30/14

1 Year 2 Years 3 Years 5 Years 10 Years0%

2%

4%

6%

3.21% 3.54%

0.88%

2.58%

4.11%

4.62%

3.73% 3.80%

0.82%

2.43%

4.21%4.56%

Fixed Income Custom Index

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Domestic Core Equity Fund

Benchmark S&P 500 Index

Managers Fiduciary Management Inc. Quantitative Management AssociatesState Street Global Advisors

YTD 9/30/14

1 Year 2 Years 3 Years 5 Years0%

5%

10%

15%

20%

25%

Domestic Core Equity S&P 500

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Small Cap Equity Fund

Benchmark Russell 2000 Index

Managers Fiduciary Management Inc. (core)Westfield Capital Management (growth)Dimensional Fund Advisors (value)

YTD 9/30/14

1 Year 2 Years 3 Years 5 Years-10%

-5%

0%

5%

10%

15%

20%

25%

-0.83%

9.55%

19.49% 22.07%

12.52%

-4.41%

3.93%

16.26%

21.26%

14.29%

Small Cap Equity Russell 2000

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International Equity Fund

Policy Index 70% EAFE Index30% MSCI Emerging Markets Index

Managers Aberdeen Asset Management (emerging markets)Baillie Gifford (growth)LSV Asset Management (value)Oaktree Capital Management(emerging markets)

YTD 9/30/14

1 Year 2 Years 3 Years 5 Years-4%

-2%

0%

2%

4%

6%

8%

10%

12%

14%

-2.10%

2.55%

7.73%

10.65%

6.11%

-0.18%

4.36%

10.28%11.76%

5.79%

International Equity Custom Index

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Total Equity Fund

Policy Index 40% S&P 500 Index10% Russell 2000 Index35% EAFE Index15% MSCI Emerging Markets Index

A fund of funds that includes an allocation to equity portfolios

YTD 9/30/14

1 Year 2 Years 3 Years 5 Years 10 Years0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

Total Equity Custom Index

Actual 9/30/14 Target

0%10%20%30%40%50%60%70%80%90%

100%

43%40%

11%10%

30%35%

16% 15% Interna-tional, Emerging

Interna-tional,Developed

Small Cap

Domestic Core

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Balanced Funds

Target Allocations

Conservative Balanced Fund35% equity/65% fixed income

Moderate Balanced Fund60% equity/40% fixed income

Aggressive Balanced Fund75% equity/25% fixed income

Conserva-tive Moderate

Aggressive

35%

60%75%

65%

40%25%

Total EquityFixed Income

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Conservative Balanced Fund

Policy Index 35% Total Equity Fund Policy Index65% Barclays Capital US Gov’t/ Credit Index

Target Allocation65% fixed income, 35% equity

YTD 9/30/14

1 Year 2 Years 3 Years 5 Years0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

2.83%

6.09%

5.47%

7.81%

6.77%

3.46%

6.12%

5.55%

7.58%

6.99%

Conservative Balanced FundPolicy Index

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Moderate Balanced Fund

Policy Index 60% Total Equity Fund Policy Index40% Barclays Capital US Gov’t/ Credit Index

Target Allocation60% equity, 40% fixed income

YTD 9/30/14

1 Year 2 Years 3 Years 5 Years0%

2%

4%

6%

8%

10%

12%

2.61%

7.69%

8.60%

11.32%

8.39%

3.22%

7.75%

8.99%

11.28%

8.83%

Moderate Balanced Fund Policy Index

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Aggressive Balanced Fund

Policy Index 75% Total Equity Fund Policy Index25% Barclays Capital US Gov’t/ Credit Index

Target Allocation75% equity, 25% fixed income

YTD 9/30/14

1 Year 2 Years 3 Years 5 Years0%

2%

4%

6%

8%

10%

12%

14%

16%

2.51%

8.76%

10.61%

13.59%

9.38%

3.06%

8.72%

11.09%

13.50%

9.86%

Aggressive Balanced Fund Policy Index

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Disclaimer

Investing involves risk — consider the funds’ investment objectives, risks and other factors, which are discussed in the Funds Description Statement. Past performance is no guarantee of future results.