2023 Mortgage Interest Rebates

As God blesses the Central Illinois District Church Extension Fund (CID-CEF), so we return His blessings to those churches, organizations, and schools in the Central Illinois District that have borrowed funds in answer to God’s calling to make disciples of all nations. Under the Mortgage Interest Rebate Program, the CID-CEF returns part of the interest paid during the year by our borrowers under our standard interest rate program, thereby reducing the cost of their loans and returning financial resources to them to meet other needs in their ministries. 

Even though the CID-CEF did not increase our standard loan interest rate throughout the year during a time of otherwise rising interest rates, we are blessed to again be able to award these Mortgage Interest Rebates.   All borrowers qualified to receive a rebate under our standard interest rate program are eligible to earn this rebate, which for 2023 totals $125,000.  This means that around 23% of the interest paid by our borrowers will be returned to them, effectively reducing their interest rate by 23%.  To receive the rebate, the borrower must be up to date with all loan payments at the end of the calendar year.  This year, all churches, organizations, and schools have met this requirement and will be receiving their proportionate rebate.

Only through God’s grace are these financial resources available to be returned to His ministry in the Central Illinois District – praise be to Him! 

Praise God for opening the eyes of our people in the Central Illinois District to the challenges facing our society today and knowing that only our Lord can overcome these challenges, using His churches, organizations, and schools to preach His Word and carry  it to all corners of the Central Illinois District!