The philosophy behind this program is truly one of a universal church. At some time during its existence every community should have the opportunity to participate on both the giving and receiving ends of the program.
A parish or school may have as many savings accounts as desired for their bookkeeping ease.
When a parish or school seeks help with financing in the form of a loan, they will be required to provide financial documentation demonstrating the ability to repay. Interest rates charged on loans are set by a committee with the intent to help our parishes and schools with low rates. The maximum term for each loan is five (5) years. The initiating of loan documents is handled through the Secretariat for Stewardship.
The Deposit and Loan Fund is held in trust owned by parishes, schools, and church entities. PNC Bank is handling the day to day processing of the savings and loan transactions. Deposit and Loan transactions and account questions should be directed to the PNC Bank address or contact person listed below:
PNC BANK, N. A.
Attention: Cassandra Cowherd (Cassandra cowherd@PNC.com)
101 South 5th Street, Louisville, KY 40202
Ph (502) 581-5234
Fx (502) 581-3973