BUILDING A STRONGER FUTURE TOGETHER

A Life Transformed by Giving

Nick McCoy and his wife have been part of Covenant Church since 2020. As their family has grown to three children—and now prepares to welcome their fourth—Nick shares how choosing generosity, even when it wasn’t easy, became a powerful step of faith.

For Nick, giving has been about more than finances. It has transformed his relationship with God, strengthened his marriage and family, and helped create a community where his children can grow in their faith.

“Honor the Lord from your wealth and from the first fruits of all you produce, so your barns will be filled with plenty and your vats will overflow with new wine”

Proverbs 3: 9-10

VISION PLAN

The Covenant Church 5-Year Plan was created to prayerfully guide our church’s direction and ministry for the next five years. Developed by a 12-person vision team and approved by Church Council in January 2025, the plan identifies nine key opportunities to help us “Ignite Faith and Change Lives.” A special emphasis is placed on supporting young adults and families as they navigate the challenges of raising children in today’s world. The plan is grounded in Covenant’s core values: Christ is Essential, Worship is Necessary, Community is Vital, Giving is Transformational, and Serving is Life-Giving.

COVENANT CHURCH 5 YEAR PLAN 2025-2030

"Well done, good and faithful servant you have been faithful over a few things. I will make you the ruler over many things enter into the joy of your Lord."

Mathew 25:23

FREQUENTLY ASKED QUESTIONS

What is Covenant's current debt?

Covenant Church currently has $2.8 million in outstanding debt, down significantly from previous years. Our principal balance was approximately $4 million starting in February 2022 then decreasing to $3.4 million in January 2025 and $3.1 million in January 2026. Our current interest rate is 3.6%. Because our existing line of credit is expiring and this loan product is no longer available, we are currently negotiating a new mortgage. We anticipate the new interest rate will be approximately 5.3–5.5%. We want to accelerate debt reduction to the next milestone of $2MM.

What is our plan for getting there?

Covenant is committed to making debt reduction a priority as outlined in our Vision Plan.
Our plan includes:

An additional substantial contribution from reserve funds toward debt reduction this year.
Keeping Debt Management as a top priority of our Vision Plan and long-term financial strategy.
A dedicated giving and pledge effort through the In His Steps Campaign to invite our congregation to participate in reducing our debt.
Directing undesignated extra giving, including large one-time gifts, toward debt reduction whenever possible.

Why are we choosing to pursue this together?

We believe reducing our debt is an important step of good stewardship and faithful preparation for the future God has planned for Covenant. With our current loan being renewed at a higher interest rate this fall, paying down our debt now will help create greater financial flexibility in the years ahead. As we reduce our debt, we can redirect more of our resources from interest payments toward ministry, while creating breathing room for future capital needs and opportunities. Most importantly, this positions Covenant to be ready to pursue what we believe God is calling us to do in the future—together, faithfully, and with greater freedom.