PORTMORE'S POWER OF Faith Ministries has forged a partnership with COK Credit Union to put the church in a position to assist needy members with micro-loans from an initial fund of $1.5 million.
The fund, launched last month at Power of Faith, was signed by Dr. Delford Davis, head of the Power of Faith Ministries and COK's General Manager Brenda Cuthbert.
Davis praised COK for facilitating the idea. "Previously several members have asked the church for grants or loans, some of which have become delinquent, but since we did not have any structure we lost several millions."
He said with COK on board, persons will have to go through strict screening before securing a loan. He said the fund was necessary as the church has to survive in a holistic way not just spiritually. The church has over 2000 members.
Cuthbert said it was a pleasure for COK to do business with the church and they will make the process a transparent and workable one.
- RT
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