The Society used to charge 3% interest on loans, but about a year ago they stopped charging any interest at all. No explanation was given.
I must have missed or forgotten about that one. I wonder if the interest created a tax liability? Hard to claim charitable status when you're charging interest. And, if you're not charging interest, then your actually losing money since I'm sure the WTS invests it's cash reserves and holds long term investments like stocks and bonds.
One thing is for sure, it's ALWAYS about the money.
US halls should finance their own remodels/builds. And when US congragations decide to do so, the local congregations will have no say in how the money is spent. RBC will contol the funds and ensure they are used for the project wisely.
But if the congregation wants to over spend on fancy sound systems or decorative features, isn't it their money? I can tell you that in once recent example, the local BOE told the RBC to stuff it when it came to a renovation. We actually found a much better price with a local contractor. I have friends in other places that have similar stories.
If the WTS wants to own the local KH, then they should. If not, then they should allow the locals to do what they want. I understand that if you're giving a low cost loan you get some right to tell folks how they can spend the money, i.e. - in order to qualify for the low cost loan, you must use the RBC. But, if the WTS stops financing they are going to have a tougher time controling how the locals. The only way you could do it would be to threaten to remove the local BOE.