wfn.org | Church Extension loan requests exceed $2.8

["Wilma Shuffitt" <WILMAS@oc.disciples.org>]

million
Date: March 16, 1998
Disciples News Service
Christian Church (Disciples of Christ)
Contact: Clifford L. Willis
Email: CWillis@oc.disciples.org
on the web: http//www.disciples.org

98b-17

    INDIANAPOLIS (DNS) -- More than $2.8 million
in loan requests have been approved in the past
three months by staff and directors of Board of
Church Extension.  

    Loan requests were among the reports received
and actions taken by Church Extension directors
during the group's first quarterly meeting of the
year, March 10-11.

    Loan requests to help finance building
expansion and improvements for Christian Church
(Disciples of Christ) congregations and related
institutions came from 13 states plus Puerto Rico.
The loans support 21 projects that include site
purchases, remodeling, new construction and debt
refinancing. Costs of all projects totaled more
than $5 million.

    Directors also approved three interest-free
loan requests totaling  $250,000 for projects in
Tennessee, Florida and Texas. Nine congregations
now have outstanding commitments totaling $541,750
in interest-free loans.

    As of Feb. 28, reports showed loan balances
of $92.3 million while  the board's assets stood
at nearly $106 million. Investments placed  with
BCE, a primary source of loans, stood at $83.5
million. 

    Other reports showed 654 field visits were
made by staff and special consultants to provide
services to 382 congregations during 1997.
Included were 57 building and combined fund
campaigns that produced  nearly $11 million in
pledges. The pledges helped to fund capital 
expansion projects and, in some instances, to
underwrite combined  capital and operational
budgets.

    In other action, directors approved holding
their June 1999 out-of-town board meeting in the
Raleigh-Durham area of North Carolina. This
location will allow directors and staff to visit
with  African-American Assemblies congregations
that are served by Church Extension. 

    The Rev. Deborah R. Thompson, outgoing
director of New Congregation Establishment, a
churchwide ministry lodged in BCE, was recognized
by  directors for her eight years of leadership
with the program. Thompson, who will be on a
sabbatical until late April, becomes director of
Vision Builders development program of NCE on June
1.

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