First Church

We have been blessed by the ability of our church to buy the 19 Church Street property for $750,000.  We have been blessed by the ability of our church to be able to fix the portico of our church building for $150,000.  We have been blessed by the ability of our church to be able to support a $600,000 annual operating budget.

Some of this blessing has come about by certain members loaning the church money at a favorable midterm interest rate to be able to buy 19 Church St.  These loans are coming due by the end of this year.  Some of these same members have agreed to roll over these loans for another 5 years.  Some members have forgiven these loans as gifts to the church, and a couple of members have asked to repaid.

In order to reduce the financing cost of our mortgage (about 5.75%) would anyone consider making a loan to our church to reduce this cost?  The interest rate you would receive is 110% of an average of the semi-annual midterm and long term AFR rate.  For 2011, this rate is 2.75%.  You would receive above market interest rates on a short term basis and help the church at the same time.

Thus, you would give and receive at the same time!  Please contact Tom Grant (Chair of Trustees) at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 860-598-9419, or Joe Catino (Chair of Church Council) at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 203-453-0494.

Tom Grant, chair

Board of Trustees