Berita NECF Articles

NECF Foundation Report for 2010

Description: Testimony from a Study Loan Recipient
 

Testimony from a Study Loan Recipient

It is truly by God's grace and providence that I can share this testimony today.

In 2005, I pursued a professional qualification for accountancy from ACCA (Association of Chartered Certified Accountants) with financial assistance from my parents and income from my part-time job. However, it was very challenging for my family and I to rely on my father's income as a pastor in a small church.

During that time, I was informed of the help that NECF offers. I learnt about the interest-free loan facility that NECF has put in place for pastors' children who are in tertiary education. I then applied for a loan to ease my family's financial burden.

With NECF's help, I completed a Bachelor of Arts (Hons) degree, majoring in Commerce, from TAR College in 2009. I changed courses after realising that I preferred business administration over accountancy as the former offers more flexibility in my career path.

A month after my graduation, I found a good job with a foreign bank in Kuala Lumpur. After securing this reasonably well-paid job, I immediately started repaying NECF on a monthly basis. I wanted to repay the loan as soon as possible and in less than 15 months, I repaid my loan. I am really thankful and glad that I've fulfilled my obligation to repay NECF so quickly. It is indeed by God's grace that I was able to complete my studies without much worry. Thanks again to NECF for granting me the loan that has enabled me to finish my studies.

- A Grateful Recipient

NECF Foundation Report for 2010

The NECF Foundation was established a few years ago to care for pastors and full-time workers. Through your generous donations, we were able to provide the following assistance:

1. Welfare assistance

We are committed to providing RM500 monthly to a 63-year-old retired pastor to help with his medical expenses. Besides his health problems, he has been caring for his mother who was in her 90s who recently passed away.

2. Insurance subsidy for East Malaysian pastors

We assist 348 pastors in Sabah and Sarawak with a 50% subsidy for Personal Accident & Critical Illness insurance cover. Although the insurance premium subsidy totaled RM62,040 for the year 2010, we thank God that insurance commissions helped offset half of the cost.

3. Study Loans

By the end of 2010, the Foundation had given out 19 interest-free study loans totaling RM266,272. On December 2010, repayments totaled RM75,956. In 2010, two new study loans were approved with instalments commencing this year.

4. Insurance Claims

Since the Great Eastern insurance scheme started in September 2005, there have been 20 insurance claims totaling RM833,055 as of 31 December 2010. In 2010, four claims that totaled RM190,612 were made.

In 2010, we received RM94,447 in donations. For those wanting to bless our pastors and full-time workers, kindly send a cheque payable to "NECF Foundation". For more details, visit our website at www.necf.org.my



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