Archbishop Vigneron Addresses the Archdiocesan Loan Deposit Program Created as an internal financial platform to facilitate savings from parishes, schools, and other Catholic organizations in southeast Michigan and to make loans available to depositors, the Archdiocese of Detroit’s Loan Deposit Program (LDP) provides access to financial capital at better interest rates and terms more favorable than those from commercial lenders. For more than 70 years, the LDP has been a source of financial strength and stability in the Archdiocese. In recent years, however, many nonperforming loans have stressed the LDP. Several new policies, procedures, and oversight measures are now stabilizing the LDP. A letter from Archbishop Vigneron regarding the LDP is available at http://www.aodonline.org/SharingTheLight/LDP. An accompanying set of questions and answers are posted there as well. Pulpit Announcement: Archbishop Vigneron is continuing his series of Sharing the Light communications on archdiocesan financial matters with a look at the Loan Deposit Program – which invests funds on behalf of parishes, schools, and other Catholic organizations in southeast Michigan. To learn more, please see the bulletin.
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