WELS CEF reports strong activity
Filed Under: BHM, CEF, Church Extension Fund, Missions
WELS Church Extension Fund, Inc. (CEF), the self-supporting, not-for-profit corporate WELS affiliate that provides financing for mission-minded endeavors and projects under the direction of WELS Board for Home Missions, is reporting strong activity for the first three quarters of fiscal year 2007-08.
CEF has completed nearly $11 million in construction loans with mission congregations—five other congregations have started building with new loans of nearly $4 million. Those congregations are in Hampton, Ga.; Birmingham, Ala.; Woodside, N.Y.; Dardenne Prairie, Mo.; and Oshkosh, Wis.
Four congregations have purchased property with loans totaling nearly $2 million, and CEF expects to disburse nearly $1.2 million in grants to 11 mission congregations by the end of the fiscal year.
Mr. Tim Probst, CEF vice president of marketing and development, says the strong activity is an indicator that WELS is continuing to grow throughout North America. "There is a significant amount of church planting being done," he says.
For more information about WELS CEF and its role in developing new missions, visit the new CEF Web site: www.welscef.org
