Archbishop Vigneron Addresses the Archdiocesan Loan Deposit Program by HZPSpuY5

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									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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