wfn.org | Church Extension directors okay $6.8 million in loan requests

[DISCNEWS.parti@ecunet.org]

Date: March 19, 1997
Disciples News Service
Christian Church (Disciples of Christ)
Contact: Clifford L. Willis
Email: CWillis@oc.disciples.org
on the web: http//www.disciples.org     

97b-14
    
    INDIANAPOLIS (DNS) -- Directors of the Board of Church
Extension approved more than $6.8 million in loan requests during the
group's first quarterly meeting here March 11-12.  

    Loan requests to help finance building expansion and
improvements for Christian Church (Disciples of Christ) congregations
and related institutions came from 14 states plus Puerto Rico. The loans
support 31 projects which include remodeling, new construction, site
purchases and debt refinancing. Costs of all projects totaled more than $10
million.

    In other board action, three interest-free loan requests totaling
$150,000 were approved for projects in Puerto Rico, Michigan and
Colorado. Seven congregations now have outstanding commitments
totaling $510,000 in interest-free loans.

    As of Feb. 28, reports showed loan balances of $80.1 million while
the board's assets stood at $98.5 million. Investments placed with BCE, a
primary source of loans, stood at nearly $78 million.

    Other reports showed 648 field visits were made by staff and
special consultants to provide services to 418 congregations during 1996.
Included were 72 building and combined fund campaigns that produced
more than $13.5 million in pledges to help fund capital expansion projects
and, in some instances, to underwrite operational budgets.

                      -30-

DISCNEWS - inbox for Disciples News Service, Office of Communication,
Christian Church (Disciples of Christ), PO Box 1986 Indianapolis, IN 46206,
tele. (317) 635-3100, (DISCNEWS@ecunet.org) Wilma Shuffitt, News and
Information Assistant; (CWILLIS@oc.disciples.org) Cliff Willis, Director of
News and Information; (CMILLER@oc.disciples.org) Executive Director