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PROMISSORY NOTE PROGRAM
On Sunday March 24^th, Trinity's voters approved a program allowing Trinity members and other WELS members to loan money to Trinity to help with the financing of our building project.  Below is information about the program.  If you would like to particpate please indicate your interest using the online form available here.  The indication of interest form should be submitted to the church by May 31.  If you have any questions about the loan program, or financing of the project in general, can be directed to council members, Matt Kock (715-892-3712) or John Bennett (715-891-2029).
 


Promissory Note Structure:
Term:  5 year annually renewable adjustable rate note
Rate:  reset annually, floor of 2% and cap of 5%
Interest payable annually upon note anniversary
 Pricing:  Prime Rate minus 1.25%
-  Initial rate is 2%
Note Amounts:  $1,000 minimum,  no maximum
-  If oversubscribed, note amounts reduced pro-rata
Notes can be called at any time at the discretion of church
In the event of death, note will be paid off within 6 months of death of note holder
Notes will be subordinate to bank debt, if bank loan needed
 
Indication of Interest Period:  March 24, 2013 to May 31, 2013
 
The note amounts will need to be lent to Trinity by August 1, 2013 and notes will begin earning interest that day.  Once payment is received, a promissory note will be issued to serve as the formal agreement between you, the lender, and Trinity, the borrower.
 
Trinity understands the importance of confidentiality.  Your commitment and payments will be handled in a manner similar to the way we handle our offerings.
 
If you would like to participate in this program, please indicate your interest by completing the online form available here.

Project Timeline:
The tentative schedule has work beginning in the church in May with completion of that phase of the project in September.  The work in the fellowship hall and addition will begin in June and will hopefully be completed in December. 
 
Financial Need:
As background, the congregation approved a $685,000 project.  Commitments for the project approximate $425,000, of which $214,000 has been received.  With the project about to begin, our financial need today stands at $471,000.  Once all commitments have been received (2014), the need drops to $260,000.  The church has also reviewed and continues to consider other financing options as part of this project.  If financing is still needed after the indication of interest period closes for the loan program (May 31^st), we will pursue those options.

Historical Precedent:
Approximately forty years ago, members of Trinity had the opportunity to participate in a similar program when interest rates on the loan from the initial building project were increasing at the bank.  Please consider supporting this effort.  The interest payable to you is very competitive, and is about 50% less than the expenses that the church would incur through loans with a commercial lender.

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Saturday Evening Services

To accommodate the large number of visitors to our area during the summer months, Trinity offers Saturday evening worship services. These 6:30 pm evening services are in addition to our regularly scheduled Sunday morning (9:00 am) and Monday evening (6:30 pm) services and are held from Memorial Day through Labor Day weekends.  The content of all three weekend services is the same.  We look forward to your worshiping with us this summer.  For additional information, please contact the church office at 356-2255.  

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Soccer Camp 2013