Rodgers Renews Zero-Interest Financing Program for Churches

May 10, 2010

To support churches working to manage with fewer resources, Rodgers Instruments Corporation has renewed a special program that helps U.S. churches finance a new organ without having to pay interest.

Under the program that Rodgers created, a church can have a new organ installed
right away and use fundraising to meet the monthly payments for terms of 12 or 24 months. Arrangements can be made through participating Rodgers dealers, with financing provided through Key Equipment Finance, a part of Key Bank. Key Bank is a major lender with more than 35 years of experience with business, non-profits and government clients. It has approximately $11 billion in assets under management.

"This program, as well as other longer-term finance programs, offers a cost-saving, convenient solution to churches that need to replace an old instrument or purchase a new one when the funds are not already available," said Rodgers Credit Manager Diane Snyder. "Participating Rodgers dealers can install the organ immediately and give the church time to pay off the cost without incurring the expense of interest payments."

Restricted access to credit has affected churches as well as businesses and consumers, noted Ms. Snyder. The Key Finance program is designed to be fast and easy, offering churches a $1.00 buyout lease that covers the organ purchase, shipping, installation and training. The approval process requires a short, simple application, and credit decisions are typically delivered in less than 24 hours.

Key Finance also offers traditional long-term financing for terms of 36 to 60 months with competitive interest rates to churches purchasing Rodgers organs.

Key Equipment Finance, headquartered in Superior, Colo., has worked with Rodgers and its retail dealers for a number of years to provide affordable options for churches in need of a new organ. The Rodgers zero-interest finance program, originally offered as a short-term opportunity, was extended this year as Rodgers saw the need for continuing  "economic stimulus" assistance for congregations nationwide, Ms. Snyder said.

Rodgers is the world's largest builder of stereo imaged church organs and pipe/digital combination organs. Rodgers is a member of the Roland Group, headed by Roland Corporation, a world leader in electronic musical instrument technologies and electronic musical instrument sales and manufacturing.