Celebrating 75 Years and Building on a Strong Foundation

In 1950, Oregon District Superintendent Rev. Atwood Foster founded Church Extension Plan (CEP) to help ministries in his district overcome a common obstacle to growth. Time and time again, when these churches sought funding for a remodel, repairs, or a new facility entirely, traditional banks rejected them, often citing inconsistent income from fluctuating tithes.

Although Foster understood why these ministries couldn’t qualify, he also knew that standard underwriting practices overlooked the drive and passion and grit of these small, but mighty churches. To obtain financing, they’d need a lender that wasn’t afraid to try something new. These ministries needed an innovative approach to financing, a creative and flexible model that catered to budding churches ripe for their next season of growth.

When Patrick (Pat) Clements joined the team as CEP’s third president thirty years later, company growth had been gradual. But Pat, like Foster, knew what kind of impact CEP could have. “CEP was the best-kept secret,” he said. “We needed to be known.” In the decades that followed, CEP continued to innovate, adding services, expanding the team, and adopting a relational approach to financial advising — fitting for the tagline “Partners in Ministry.”

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After 75 years in ministry, we at CEP are privileged to serve thousands of investors, and in 2024 alone, the company loaned nearly $50 million dollars and serves over 1,400 ministries. What was once the “best-kept secret” is now paving the way for growing ministries each and every year. 

As we celebrate 75 years—and prepare to unveil more exciting changes in 2025—our team is eager to build on a strong foundation. We’re looking forward to trying new things and embracing new beginnings for CEP and for many more ministries awaiting their next season of growth.