Evangelical Christian Credit Union (Brea, CA) evicted a Georgia megachurch from its 4,000 seat sanctuary before Christmas over nearly $22 million in debt.
The sanctuary of Higher Living Christian Church (McDonough, GA) will be sold in public auction to the highest bidder for cash on January 3, 2017.
The church building includes a multi-purpose sanctuary with removable seating. It could be modified to accommodate trade shows, graduation ceremonies, cultural events, art displays, or a fellowship hall. The facility also boasted eight classrooms, indoor children's play area, administrative offices, and choir rehearsal room.
Evangelical Christian Credit Union is currently under an enforcement order with the the California Department of Business Oversight.
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Jesus Christ! Are you kidding me. The Christian Credit Union evicted the Church on Christmas? Have they no shame? Quick pass the collection plate. Remember: Jesus $AVES & Moses Invest$! PTL...Praise The Lord. PTL...Pass The Loot. Post eviction, can they convert the building into a Public Storage facility?
ReplyDeleteEnforcement order from the CA DBO. Seriously? Shut the joint down. Assets are down from over $1B to less than $850M. Net Worth is smashed from a high of $91.7M to less than $63.7M. They got a Note Payable of $60M that kills the Net Worth. Year end 2014 they be -$18.9M in net income. Year end 2015 they be -$14.8M in net income. Tell Jesus to git off the cross we sure could use the wood. Maybe flip it into a multi-theatre movie complex.
ReplyDeleteEnforcement Order. Hell what they need is a damn Restraining Order. How much collection plate revenue must they lose before the NCUA boys on Duke Street evict management, fire the board of directors, and hire new talent? Why is the NCUA waiting? Why is the DBO waiting? How great are thy losses, before the good Lord steps in with a moral compass to bring the credit union out of the RED and into the Light? The Good Lord giveth & taketh away, but will the NCUA?
ReplyDelete