Tag Archive for: church extension fund

New director named for WELS Church Extension Fund

Mr. Brian Roser has been named the new executive director of WELS Church Extension Fund, Inc. (WELS CEF). Roser started in the position in July 2024, after the retirement of Mr. Scott Page.

Roser brings a wealth of experience to the role, having served in both the corporate and non-profit worlds in the past. His prior banking experience included management roles in client relations, consumer lending, and loss mitigation. He also served as executive administrator for Lutheran Association for Church Extension, Inc., for six years. Roser has been with WELS CEF since 2016, working as a loan manager.

Roser says that he appreciates being part of the mission of WELS CEF, which is to support the spreading of the gospel primarily by providing loans and grants to WELS Home Missions congregations. ā€œWhen you work in the corporate world, itā€™s a job to support yourself. Working in the non-profit world has a whole different feeling. It becomes a part of who you are,ā€ he says. ā€œThereā€™s a higher meaning to it than just a job. I feel blessed to be working for WELS.ā€

An active member at Star of Bethlehem, New Berlin, Wis., Roser hopes to build on his years of serving as a church volunteer to help him communicate and work through the process with church treasurers and building committees. ā€œI just pray that I can use whatever skills God has given me for the good of the church,ā€ he says.

WELS CEF helps provide financing to mission congregations so they can purchase land and either build or renovate a worship facility. It also works with established congregations on building projects as funds are available. Loan demand has been high the last few years, according to Roser, with more than $40.8 million of loans disbursed for new construction, facility expansion or purchase, or land purchase in the fiscal year ending June 30, 2024.

Almost 2,800 WELS members, congregations, and affiliates have entrusted WELS CEF with $111 million in member investments. Operational surpluses over the years have enabled WELS CEF to provide $48 million in matching grants to mission congregations and $15.8 million in special grants to Home Missions since 1993.

WELS mission congregations recognize the significance of WELS CEF in getting a building project off the ground. Started as a mission in 2018, Sure Foundation, Brandon, S.D., recently broke ground on a 7,500 sq. ft. facility, which includes a worship space that seats 200, a gathering space, a multi-purpose room, a kitchen, and two classrooms. WELS CEF provided the congregation a grant and loan to purchase land and then another loan to build the church facility. ā€œI appreciate the work of CEF because it allows us to do something that we would never otherwise be able to doā€”have a permanent space,ā€ says Rev. Craig Wilke, pastor at Sure Foundation. ā€œIn our context, a permanent space is a big deal. And while a building will not convert souls, it will give us more opportunities to preach the gospel and connect with people.ā€

Learn more about the work of WELS CEF at wels.net/cef.

 

WELS Church Extension Fund offering limited-time special rates

To benefit WELS home missions and mission-minded congregations, WELS Church Extension Fund (WELS CEF) is offering special higher interest rates to new and existing investors for a limited time.

With $30 million in construction loans to churches currently in progress, WELS CEF is excited to offer these new interest rates to support those churches with their building projects and mission goals. With the ongoing need for funds, WELS CEF seeks to raise approximately $10 million in new money investments.

The interest rate bonus is available for both existing maturing and new investment certificates with two-year and longer maturities at the $25,000 mark. Doubling an existing investment to $25,000 and greater or simply making a new investment of $25,000 will provide the interest rate bonus. The opportunity to invest under these bonus terms ends as soon as WELS CEF reaches its new investment goal.

WELS CEF makes loans below or at market rates for new WELS mission churches that are building for the first time or established congregations with a new mission-focused initiative. WELS CEF funds these loans through WELS congregationsā€™ and membersā€™ investments in WELS CEF products.

Mr. Scott Page, executive director of WELS CEF, says, ā€œWELS Church Extension Fund would like to thank all of our investors and provide an incentive to help us do more. These investments help WELS mission and self-supporting congregations build and expand their ministries. We are pleased to assist you in being good stewards of your gifts while also providing funding to help spread the gospel throughout the United States.ā€

Because of the uncertainty due to COVID-19, WELS CEF will be suspending new loan originations through July 31, 2020. The CEF Loan Committee will be monitoring this monthly, and the CEF Board of Directors reserves the right to extend or shorten the suspension of lending activities. This suspension in lending activity applies to new loan applications only and does not impact existing loans, loan commitments, or construction loans in process.

View rates online at wels.net/cef. New IRA investors should contact WELS CEF at 866-511-7793 for investment materials. Investors can also manage their accounts and investments online.

 

 

 

WELS CEF offering limited-time special rates

Increasing requests for loans from WELS Home Mission churches and mission-minded congregations is prompting WELS Church Extension Fund (WELS CEF) to offer special rates for new investors. WELS CEF makes loans below or at market rates for WELS churches that are either new and building for the first time or established congregations with a new mission-focused initiative.

WELS CEF funds these loans through WELS congregationsā€™ and membersā€™ investments in WELS CEF products. With the need for funds increasing, WELS CEF, through this special offer, is seeking to raise approximately $12 million in investments. ā€œIf you are not an investor in WELS CEF, this is a great opportunity to support ministry. If you are already an investor, this is a great opportunity to increase your support of ministry by increasing your investments,ā€ says Mr. Scott Page, director of WELS CEF.

For a limited time, WELS CEF is offering a four percent interest rate on a minimum investment of $5,000 in either a 56-month-term loan certificate or a 60-month-term IRA certificate. WELS CEFā€™s investment certificates pay and compound interest quarterly. The four percent interest rate applies only to new money investments.

ā€œWeā€™re offering a great interest rate for new investments,ā€ says Page. ā€œCongregations are eager to grow, and nowā€™s the time to fund that need.ā€

Investing in WELS CEF is not only a smart way to manage personal finances, but it also supports the mission of the church. Rev. Keith Free, administrator for WELS Home Missions, says, ā€œThe continued investments of more WELS members and congregation gives WELS CEF additional funds to support missions and mission-minded congregations.ā€

View rates online at wels.net/cef. New IRA investors should contact WELS CEF at 866-511-7793 for investment materials. Investors can also manage their accounts and investments online.

 

New Director for WELS CEF

New executive director for WELS CEF

Scott Page has been named president and executive director of WELS Church Extension Fund (CEF). Page joined CEF a year and a half ago to assist temporarily with policy and procedure writing. He then took a full-time position in loan servicing and in October 2015 was named president and executive director.

Prior to joining CEF, Page worked for JPMorgan Chase in loan servicing quality assurance management as a retail mortgage risk director as well as a host of other credit and loan management positions.

Page says he was drawn to this position because of the purpose behind the work. ā€œYou know the purpose; you know the reason why. Itā€™s not just for making money and bringing wealth to shareholders, but to actually see Godā€™s Word spread and for those brick and mortar facilities going up for congregations all across the country and the Caribbean and Canadaā€”to have their worship homesā€”itā€™s really fulfilling,ā€ he says.

ā€œThe reason WELS CEF exists is to help mission congregations with loans for facilities, land purchasesā€”and to get those congregations off the ground, out of rented space, and into permanent worship facilitiesā€”thatā€™s kind of cool work if you ask me,ā€ says Page. ā€œAnd a lot of times, these are loans that no other financial institution would make

Page, a member of St. Matthewā€™s, Oconomowoc, Wis., has been married for 35 years and has two adult daughters.

To learn more about WELS CEF, visit wels.net/cef.

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Volume 103, Number 01
Issue: January 2016

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