Adventist credit unions to forgive loans every 7th year

image

GLENDALE, Calif. — In a major policy overhaul, the Association of Adventist Credit Unions (AACU) has announced that all of its member credit unions are instituting a policy guaranteeing that loans owed by customers will be forgiven every seventh year.

Ted Bankwell, a spokesperson for the AACU, said that the loans decision was made to align Adventist financial institutions more closely with biblical doctrine regarding “freedom from bondage of debt or servitude.”

Customers that have taken out car, real estate, boat or other loans are encouraged to “do their level best” to repay their debt before 2022 (the first year of loan forgiveness). The seven-year clock on forgiveness for any new loans will start the day they are approved.

Adventist credit unions are “always on the lookout for how to more ethically and biblically do business,” said Bankwell. Although he acknowledged that member institutions were aware that charging interest on loans “already puts us in murky waters,” the credit unions are introducing seventh year loan forgiveness scheme as a “baby step” in the right direction.


(Visited 1,339 times, 1 visits today)

6 Comments

  1. kaj

    Ray, if you’re a pastor, you might end up doing exactly that! Nothing like getting a good “call” outta da blue just when you’ve paid off a quarter of your mortgage.

  2. Disclaimer at the top of very page: “Adventist satire and humor.”

    On the “About” page: “BarelyAdventist is a satire and humor blog on Adventist culture and issues.”

    “Please note that all characters and incidents appearing in this ‘report,’ including any comments thereupon, are fictitious or parodied. Any resemblance to real persons, living or dead (or incidents, past or future) is purely coincidental and/or is solely for purposes of parody, satire, caricature, or comedy. If you do not find the stories funny, please see your doctor to check your sense of humor (or perhaps to check your pulse). After all, laughter is the best medicine.”

Leave a Reply

Your email address will not be published. Required fields are marked *