Finance
Your Pledges At Work in the
Church
Your Pledges At Work in the
Church
What is the job of the finance committee within our
church? To learn more, click here.
church? To learn more, click here.
| For the church's monthly statement for December 2011, click here. |
| Finance Committee—Jim Herd, Chairperson Bob Douglas Leonie Blaney Reid Lemasters Joe Kitchell Les Steele Rich Vice Randy Wolf Michael Myers, Treasurer Janet Wells, Fin. Secy R. Stuart Rammes, Pastor Counters: Bob Blow, Karen Hartman, Les Steele, Bruce Mayer, George Rizzi, Karen Holford, Fritz Horne, Kathy Shahani, and Joe Kitchell |
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Contact Jim Herd Contact Michael Myers
| CHURCH MORTGAGE REFINANCING COMPLETED We have closed on the refinancing of the church mortgage. This will be very favorable for the church. We lowered our rate from 7.25% to 6.25% which translates into a cash flow savings of over $39,000 annually. The new loan does not have any prepayment penalties, so it gives us more flexibility than we previously had. We have also reduced some checking fees as part of the new relationship with the West Ohio United Methodist Credit Union. In addition, Reid Lemasters negotiated a waiver of the $50,000 prepayment penalty that was part of the agreement with our previous lender. The rate doesn't reset for 5 years so we expect that the economy will be in a better position than it is likely to be in the next year or two when our notes were set to reprice. In addition to Reid's yeoman efforts, special thanks go to Mike Myers, Fritz Horne and church secretary Nancy Feverston. |