At a meeting yesterday, Old Union's session voted to pay off the mortgage
on the new building! By cashing in the building fund investments we had in
case of a lull in giving, and with the proceeds from this weekend's garage
sale and car show, we will have enough to pay off the loan completely.
In June 2008 the congregation voted to take out a $300,000 mortgage for our
building project, to be repaid over twenty years. When the stock market
collapsed in the fall of 2008 after construction had begun, we lost a
significant amount of what we had saved for the project and had no choice
but to increase our loan by $150,000 to a total of $450,000. Thanks to many
generous donors and eager helpers at our fund-raising events, we have paid
off a loan that was 50% larger than we had planned, in less than half the
time!
Watch for plans for a mortgage burning party! And remember to give God the
glory!
Peter
--
Old Union Presbyterian Church
200 Union Church Rd
Mars, PA 16046
724-538-8672
www.OldUnionChurch.com
OldUnionChurch@xxxxxxxxx
