X

Menomonee Falls, WI

News

What Mortgage? Msgr. Announces St. Mary Parish has Paid Off Its Debt

St. Mary Parish is no longer carrying a mortgage! Msgr. Shecterle received confirmation from Landmark Credit Union that as of March 10, the parish’s multi-year mortgage was officially paid off. Msgr. Shecterle shared the good news publicly at the 2022 St. Mary Parish Auction Gala on March 12.

“This is a great accomplishment and it’s a credit to our pastoral council, finance committee and dedicated, generous parishioners,” Msgr. said.

The mortgage was refinanced twice in the last 10 years. Most recent monthly payments have been $10,460. Msgr. noted that parishioners have worked hard to address the debt over the years through individual giving and capital campaigns.

The big picture financial effect of eliminating this debt is freeing up $125,520 for the operations budget. Nevertheless, many expenses still need to be addressed.

“Please continue to be generous and give so we can continue to chip away at delayed maintenance, address capital issues and project the Faith well into the future in our corner of Menomonee Falls and beyond,” Msgr. said.

“Moreover, specifically, we intend to use a portion of what was used for our mortgage to support our grade school and be intentional about moving toward salary parity.”

Msgr. concluded, “It is an exciting time for our parish and school.”