SEVIER, Tenn. – Evangelical Christian CU, one of the biggest church lenders in the country, bought Evergreen Church in a foreclosure sale last week.
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The California credit union is the loan holder for the church, and holds a $3.8-million note on the church building.
The church has about 200 members. It found itself in financial trouble over the past year because of declining membership. That caused a drop in donations, which are used to pay the bills.
Church officials said they hope to remain in the building by leasing it back from the credit union.
