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Burnett Loan Fund

Terms & Conditions
Through the generosity of the late Mrs Olive M Burnett, the Burnett Loan Fund for ministers has been established. The Church Property Trustees through the Church Office administer this Fund. Enquiries should be made to The Secretary, The Church Property Trustees, P O Box 9049, Wellington, Phone 04 801 6000. The application form is attached.

1. Objectives
   The Fund makes loan to duly appointed ministers to assist with financial stress.
2. Loan Policy
   Loans are available, subject to funds being available, with a normal maximum of $10,000, and subject to the Trustees absolute discretion to refuse to grant a loan for any reason whatever.
   These loans will normally be unsecured.
3. Repayment
   Loans to ministers, together with interest, are repaid monthly by Direct Debit at the rate of not less than $2.00 per $100 borrowed (rounded up to the next $10).
   Repayments will commence in the month following the date of borrowing.
   No variation in the agreed repayment arrangements will be allowed without written authority from The Church Property Trustees. Additional payments may be made at any time thus reducing the interest charge against the loan. These payments should be made by cheque to The Church Property Trustees clearly indicating the purpose of the payment.
   In the event of either resignation or retirement from parish ministry or other Church appointment or default under these rules, the balance owing must be immediately repaid, or in special circumstances repaid on such terms and conditions as may be agreed.
   In the event of death, the outstanding balance is recoverable against the estate.
4. Interest
   Interest is charged at 0.5% above the Official Cash Rate.

Application Form: [Word] [PDF] [RTF]