The Lutheran Church Extension Fund (LCEF) is experiencing an unprecedented increase in building loan requests and, in order to meet those requests, is now offering a nine-month, fixed-rate term note at 6.136 percent APY (6 percent base rate). APY is the annual percentage yield.
“Our first-quarter financials show a $20 million increase in loan dollars versus last year,” said LCEF President Merle Freitag. “Congregations and schools are building and remodeling new facilities, and we want to be able to meet that demand and support them financially.”
The offer is available only until LCEF raises the additional $50 million needed to meet the increasing loan demand or until Dec. 31 — whichever occurs first.
The minimum investment for the nine-month note is $500. LCEF may end the promotion the final day of any month.
“LCEF’s mission is to provide low-cost loans and facility-planning services to LCMS churches, schools, and rostered church workers,” Freitag said. “These loans and services would not be possible without the support of our investors and donors, and we appreciate that support.”
The ministry of Church Extension has been a part of The Lutheran Church–Missouri Synod since 1902. In 1978, LCEF was incorporated to meet changing state and federal requirements regarding investments. To date, LCEF has helped more than 80 percent of LCMS congregations by providing “spaces and places” for ministry.
For more information about the nine-month offer or any of LCEF’s investments, loans, and services, call (800) 843-5233 or visit the LCEF Web site at www.lcef.org.
LCEF is a nonprofit religious organization; therefore, LCEF investments are not SIPC- or FDIC-insured bank deposit accounts. This is not an offer to sell investments or a solicitation to buy. The offer is made only in states where authorized and solely by LCEF’s Offering Circular.
Posted Oct. 24, 2006