Title: Loan to build new log church among $4.1 million in requests approved by
BCE
Date: September 21, 1998
Disciples News Service
Christian Church (Disciples of Christ)
Contact: news@cm.disciples.org
98a-59
INDIANAPOLIS (DNS) -- The building of a log church in Cherrylog, Ga., was among the new loan requests approved by directors of Board of Church Extension (BCE) of Disciples of Christ during their quarterly board meeting, September 15-16, 1998.
Capital loans to build the first unit of the recently established Cherry Log Christian Church is included in the $4.1 million of new loan requests approved by directors and staff during the past three months. The requests, ranging in size from $4,000 to $850,000 will finance 24 building projects valued at $8.3 million. Disciples churches and organizations located in 14 states will use the funds for new construction, remodeling and debt refinancing.
In other actions, directors confirmed one interest-free loan request totaling $100,000 for first unit construction for a congregation in Georgia. This brings to five the number of congregations with outstanding commitments totaling $227,500 in interest-free loans.
As of August 31, 1998, reports showed loan balances of $92.5 million while the Board's assets stood at $110.3 million. Investments placed with the Board, a primary source of loan funds, totaled $87.7 million.
Directors also received reports showing 137 field visits by staff members during May, June and July. During the same period, BCE staff also directed 21 fund-raising campaigns that achieved pledges of $4.7 million.
In other action, directors:
-- Confirmed holding its June 1999 board of directors meeting in Raleigh, N.C., where time will be spent visiting with churches and leaders of the predominantly African-American congregations of the Assemblies tradition.
-- Received a report announcing New Fellowship Christian Church, Columbus, Ohio, as the recently established congregation to have Vision Builders Construction volunteers build its first building during the summer of 1999.
-- Commended Raymond D. Sturm, who will retire October 31, for his leadership over the past five years as office manager.
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