Memphis-based Christian non-profit, Indigenous Advance Ministries, known for its philanthropic endeavors, especially its support for orphaned children in Uganda, recently faced unexpected banking troubles.
Bank of America (BofA) terminated their account with only a 30-day warning, leaving the organization scrambling, according to a report from The Daily Mail.
The official communication from BofA to the charity read: “Upon review of your accounts, we have determined you’re operating in a business type we have chosen not to service at Bank of America.”
Indigenous stated it had $270,000 in deposits.
The bank’s abrupt decision has elicited various reactions, with some speculating that the non-profit’s Christian beliefs could be at the root of the move.
The charity, which stands firmly on its Christian values, advocating for pro-life causes and the traditional definition of marriage as between a man and a woman, has expressed confusion and concern.
Representatives from Indigenous Advance Ministries have stated their efforts to gain clarity on the sudden closure were met with an almost identical response from the bank a month later.
In a letter penned to the Tennessee attorney general’s office, board members Steve Happ and Bob Phillips highlighted their dismay, noting: “Being forced to transition so quickly caused a great deal of trouble for us,” and added, “It also disrupted our mission to Uganda in June and we were temporarily unable to pay salaries in Uganda. And we were left very confused.”
They further stressed, “Our mission and work, supporting Ugandan children and families through indigenous Ugandan Ministeries, has remained the same since we were founded and first opened our accounts with Bank of America.”
In its defense, BofA has staunchly refuted allegations that the termination was influenced by religious sentiments.
The bank’s statement emphasized that religious beliefs “are not a factor in any account-closing decision.”
However, when probed by the Daily Mail to specify which part of their policy dictates the non-servicing of such accounts, BofA’s response was notably vague.
Support for the organization’s predicament also came from the Alliance Defending Freedom (ADF), a legal body that champions the Constitutional rights of US citizens.
ADF declared, “We filed a complaint asking the TN AG Jonathan Skrmetti to investigate whether this de-banking was due to religious discrimination,” on their social media platform, previously known as Twitter.
Bank of America is an official partner of the World Economic Forum (WEF). WEF partners “are the driving force behind the Forum’s programmes,” according to the organization’s website.
