The Loan Fund was established by Synod in 1983 to enlarge the denomination’s potential for assistance to churches beyond what was already being provided by the Church Help Fund and CRC Home Missions. In 1983, the Church Help Fund was dissolved, and its assets of approximately $2.5 million in cash and loans receivable were transferred to the Loan Fund. Since then, the Loan Fund’s assets have grown to over $30 million, and the Loan Fund has made nearly two hundred loans totaling more than $60 million to Christian Reformed churches across the United States.
As now established, the Christian Reformed Church Loan Fund, Inc., U.S., is a legally autonomous Michigan non-profit corporation affiliated with the Christian Reformed Church in North America (CRCNA). It operates solely for the benefit of the CRCNA and its member churches and boards. The Loan Fund is managed by a six-member board of directors elected by Synod to serve three-year terms.
The Loan Fund offers loans to Christian Reformed Churches in the United States for the acquisition or construction of church facilities, parsonages, and land. Loans are also made for improvements and repairs to church property. These loans are usually made with rates and fees that are generally more favorable than those offered by traditional lenders such as banks and credit unions, The primary source of funds for lending activities is funds invested in the Loan Fund by members, churches, and classes of the CRCNA as well as organizations related to the Christian Reformed Church. The Loan Fund also obtains funds from revenues generated by its lending activities and interest received on deposits of its funds. The Loan Fund is unique in that it does not solicit gifts nor does it receive ministry shares to support any of its activities.
The ministry of the Loan Fund is made possible by the dedication and support of hundreds of members of the Christian Reformed Church throughout the United States who wish to make their investments further the work of the kingdom while earning reasonable returns. Through the ministry of the Loan Fund, members and organizations in the Christian Reformed Church have an opportunity to pool their resources and use their investments to help churches expand their ministries and reach out to their communities with the good news of the gospel.