The B.C. Church Building Society was formed in 1950 by The Pentecostal Assemblies of Canada, BC & Yukon District. The purpose of the society is to provide a way for smaller churches in the BC & Yukon district to obtain loans for the building of new churches, expansion or improvement of existing church buildings, parsonages and camp projects.
Loans to churches must first have district approval. Application for approval is to be sent in writing to the Assistant Superintendent for Operations. Click here to download the application.
Assistant Superintendent for Operations
20411 Douglas Crescent
Langley, BC V3A 4B6
After approval is given, contact is made with the Society Secretary-Treasurer David Ball, who will send out an application form with a letter explaining loan rates, repayment schedule, and other information.
Rates are set to agree approximately with those set by our National Pension Fund Loan Department. The rate is set when the loan is advanced for a three-year term and adjusted on the three year anniversary to the current rate. There is also a 1% administration charge.
Payments start 30 days after receiving the loan and the amount of each payment is 1% of the total loan. All loans are open and can be paid off at any time, or lump sum payments can also be made.
In order to raise the funds to provide loans, individuals are invited to invest in the Society. A certificate is issued to the investor and may be cashed at any time upon 90 days notice. The interest rate is set at the time of the investment for a three-year period at which time the rate is reviewed for another three-year period. Interest is paid semi-annually on January 1st and July 1st of each year.
If you are interested in investing in the BC Church Building Society, please contact:
David Ball, Secretary-Treasurer
BC Church Building Society