Welfare Program Assignments

The Cooperative Security Corporation, legal entity of the Church Welfare Department, has been reorganized in a move to strengthen the corporation and to unify title holding and accounting procedures for the welfare program.

The First Presidency has announced that the Presiding Bishop of the Church and his two counselors will serve as president and vice-presidents, respectively, of the corporation. Elder Junior Wright Child has been named trustee and managing director, with Elder Henry E. Peterson as assistant managing director.

Advisers will be Elder Marion G. Romney of the Council of the Twelve and Elder William H. Bennett, Assistant to the Council of the Twelve.

Cooperative Security Corporation, the holding corporation and financial arm of the welfare program, will obtain title to all welfare properties and production projects of the Church and will set up uniform accounting procedures for each. The corporation is also empowered to handle welfare project loans and financing.

Elder Child, the new managing director, is a certified public accountant with extensive experience in business management and financing. A member of the YMMIA general board, he formerly served as president of the British South Mission and as president of Murray (Utah) South Stake.

Elder Peterson, who has been serving as agricultural production director of the welfare program, was formerly employed by the U.S. Department of Agriculture. A Regional Representative of the Twelve, he has also served as president of Bountiful (Utah) North Stake.

Junior Wright Child