announcement at service meeting

heathen

I actually went to the service meeting last night and low and behold the announcement was about the WTBTS not charging interest on the loans on kingdom halls anymore but they still had to pay back the principle balance , I never knew they charged interest but think that it was a very dishonest thing for them to do to begin with . You have to borrow money to pay for a building that the WTBTS owns? since when? To charge interest is a very worldly practice since it was against mosaic law to do so and clearly jesus would never have asked anything of the sort . I guess it took high gas prices to convince them to change, since less money is available to them because of it.

anybody with comment or info ?

undercover

That's very interesting...

Something more than high fuel costs had to prompt them to drop charging interest. I'm no expert in tax laws or anything but I wonder if this practice had become known to enough people that it was being questioned as to the validity of remaining non-profit if they were charging interest on loans...

They dropped charging for literature in similar circumstances...

DaCheech

in 1990 I lent my brother $20k, it took him 15 years to return...... i would not have imagined charging him interest...... even though i could have doubled the $$$$$$$$$$$

blondie

*** km 4/85 p. 4 par. 11 Society Kingdom Hall Fund ***These loans are repaid to the Society Kingdom Hall Fund with interest at the rate of 6 percent. Why charge interest? Basically, the small amount of interest that is being charged serves to protect the contributions from inflation. Each year inflation erodes the purchasing power of every dollar, and the cost of building Kingdom Halls rises. The interest paid thus allows the Society Kingdom Hall Fund to maintain its potential for assisting congregations now and in the future.

WTWizard

So they have to replace one scam with another. And the one that comes to take its place will probably be even more underhanded than the interest one was.

TopHat

I feel the same way you do heathen. Why buy a building the congregation does NOT OWN. Why not just pay for the upkeep of the building the congregation is using. Utilities and such. After-all the WTS is a non-profit organization. The WTS benefit when the property value raises. What a waste of the members money. I wouldn't buy a $500,000 house just so I could hand it over to someone else when I move. That's my money and not theirs.

NewYork44M

This was mentioned last week in a post on JWD. Apostates generally get information long before announced to the r&f.

Dagney

It's a business. It's always been a business. All their decisions have been for the corporation's benefit. If their focus had been on the flock, they would have services and programs to help the flock like every other church has. Not one penny has ever gone for the benefit of the members.

tinker

That's rigth, not ONE PENNEY and that's my .2 worth.

minimus

The dollar is pitiful. Maybe it has something to do with the Euro.

Whatever the reason, it's probably involving legal issues.

announcement at service meeting

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