Shift intended to empower local churches
MB Foundation press release
For the first time in MB Foundation’s 26-year history, the decision has been made to lower variable loan rates and raise certificate rates.
“This decision had nothing to do with the economy and everything to do with empowering the local church to reach its full ministry potential,” says Jon Wiebe, president and CEO of MB Foundation.
Forty-four Mennonite Brethren churches have a loan with MB Foundation and 54 have certificates. This decision was made by the MB Foundation Board of Directors on Nov. 15, 2016, and took effect Dec. 1, 2016.
“We believe putting this money back into the hands of the local church is one way to empower the local church,” says Wiebe. “Of course, this rate change benefits more than just the churches. All told, approximately 1,500 accounts will benefit from this historic rate decision.”
Investments with MB Foundation provide resources for the Loan Program to finance ministry projects. At the same time, investors earn a rate of return. The rate change will benefit many churches, individuals and charities.
Investors may visit www.mbfoundation.com/invest to learn more and start an investment during this historic season.
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