Debenture Program ~ Phase Two

Phase I of our Debenture Program is now coming to an end and we are about to embark on Phase II.  During Phase I, which has been in effect for two months, we have raised in excess of $270,000.00 which will be applied toward the retirement of our existing mortgage in the amount of $750,000.00.  As you know, this money was raised through the sale of debentures ( a loan to the parish – paid back in 3 to 5 years ), in the amount of $2,500.00 each, as well as through generous one time donations intended to help us achieve this worthwhile cause. 

          Phase I only offered debentures which were purchased in one payment for $2,500.00 each.  Many families have told us that they have a desire to participate in this program but are better able to do so through installment payments.  Therefore, Phase II of the Debenture Program has been developed in response to this request and is intended to allow families to participate in our mortgage elimination initiative through the purchase of a debenture with 5 monthly installments of $500 each or 10 monthly payments of $250 each. We know that there are many other families who want to show their support for this initiative and we are hopeful that offering debentures through installment payments will allow them to do so. 

          We are one community, one family and the Finance Committee and Father Mike want to enable as many as possible to celebrate the success of this wonderful cause.  We are totally grateful to all those who have been able to come on board thus far and we look forward to many more embracing this initiative through these installment plans. If you can help please stop by the Debenture Table today or see Father Mike or call the office this week.