A few years ago I know that the WTBTS charged 1% above base rate when a local congregation needed funds from the kingdom hall build fund which all had donated to.
does anyone know if this is still the case?
thanks
Do they still charge interest??
by happehanna 4 Replies latest watchtower beliefs
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sinis
Lately the WTS has "encouraged" or should I say require the local cong to get there own loan. Usually a few elders form a committe and take a bank note out in there names. They are responsible for the payment. Kind of a crappy setup as if the cong can't meet the payment the elders may get screwed. A local cong here recently signed for a loan for a new hall as the brothers at the new hall could not qualify for a loan. The stipulation was that the new hall, after a set period of time, was supposed to start repaying the original cong back. Well the new cong just recently told the loaning cong to go pound sand and that they were not going to repay them. Unfortunately the elders are the note holders at the original cong so they personally are responsible. Not a good situtation.
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horrible life
What Christians!!! Do you lock them out? A congragation near me, burned half way. They built a new hall on the other side of town. Then sold the old one to a non-denom. church. I guess the elders are owners, and could sell it to another church. But how many churches want a building without windows, and plain jane like the KH's.
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caligirl
I just had this conversation with my elder father last week, since the hall I grew up in is building a new one. (not because of explosive growth, but because of some kind of easement for the road that goes beside the hall that will cause them to lose most of thier parking when the town renovates the road next year, and they rent some of their parking from a farm and that is going to become a housing development)
He says that the construction loan is financed through the society at 3% "to cover the costs of administrating the loan"
He also says that the local congregation retains title when the loan is paid off.
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potleg
Sounds like the society is still fleecing the flock...Whatever happened to...you received free...give free, etc?