Dear Brothers and Sisters

While sitting in a meeting recently I was impressed with a suggestion made by Senator Rev. Dr. Leonard Santucci (Candidate for Episcopal Honors)that the Connectional Church consider the merit and implementation of a consolidated banking program in the United States. He and I started an idea like that in 1999 in the Bermuda Annual Conference and had succesfully put together a plan that both major banks were prepared to compete for. It meant that the Church locally would leverage its total financial position for improved service and better rates of investment and borrowing. This suggestion became a proposal which was enthusiatically accepted by our then Prelate Bishop Philip R Cousin. Bishop Cousin in the 2000 Annual Conference directed this to be moved forward with great speed and care.While the Annual Conference has not moved as the Bishop had directed the plan is still a great one.

Senator Santucci makes a case I believe requires your opinion. It is a fact that the first 13 Districts raise over half a billion dollars a year in revenue. The banking is spread out with no single entity controlling the main block of the Church Banking. If we were to consider this plan I believe we could could insist on an annual interest payment to the Connectional Church of 1% per annum from the succesful banking bidder. This would mean an annual payment to the Connectional Office of Statistics and Finance of approximately $ 5.3 million dollars. If added to the amount raised by Episcopal Districts of $4 million per year we would raise approximately $9.3 million per year or $37.2 million per quadrenium (3 times more than we do at present). This money is only representative of our funds and would not require us to raise any additional funds.

I believe this proposal is indeed one that would make a profound difference in the way we run the Church and the amounts needed from our Districts and local Churches. Senator Santucci is now working on the disbursment equation of this proposal so as to bring a more significant benefit to all major stakholders within the Church

While I may be accused of being biased as I continue to work with Senator Santucci I would like your careful consideration of this proposal. Please feel free to pass this on to others.

Prof. Bill and others I would appreciate you review and opinion. I believe this is the type of visionary idea useful to our Church. I applaud the good Senator as he strives forward in lifting our Zion. I await your responses.

-- Anonymous, March 09, 2004

Answers

All I can say is: WOW!

Once we show the members that the church can manage money effectively, perhaps it will be easier to get them to tithe, and form their own individual investment clubs......

My prayers are with you and the good Senator.....

-- Anonymous, March 09, 2004

Dear Rev. Harper

Part of the consolidation proposal which Bishop Cousin really appreciated is the American Express philosophy that "Membership has its priveledges". The consolidation plan would allow for new and improved opportunities for all of our members in the area of financial services as we would have a stake in our future. Lower interest rates, better insurance coverages and on and on. We must first however deal with the larger constituants then on to the members. But rest assured members are included in this plan.

Blessings unto you Rev.Harper. Please keep Rev. Dr. Santucci in your prayers as he campaigns for both our financial empowerment and our spiritual empowerment as a Candidate for the Bishopric this July.

-- Anonymous, March 09, 2004

Nalton opines -

"It is a fact that the first 13 Districts raise over half a billion dollars a year in revenue."

This is truly a staggering statistic!!! A half billion dollars = $500 million dollars!!! If this figure is even close to being accurate I'm virtually speechless and fundamentally perplexed at why the Connectional AMEC continues to experience such fiscal disequilibria. Email me so we can have a private discussion about Senator Santucci's financial model. Thanks. QED

-- Anonymous, March 10, 2004

Dear Prof.QED

Certainly I would NOT disclose exact details on the BB but the information disclosed is correct. My hope is that as many of us who log on or in consider the magnitude of the opportunity.

I will contact you directly

-- Anonymous, March 10, 2004