Current Rates
Current Investment and Loan Rates
Whether you're looking for a loan or an investment, it all starts with an attractive rate. You'll be pleased to know that ours are exceptional.
Investments
Effective November 1, 2009*
|
Rate |
APY** |
Bonus APY † |
| MissionPlus |
| - Tier 1: $100 - $9,999 |
1.00% |
1.00% |
|
| - Tier 2: $10,000 - $24,999 |
1.24% |
1.25% |
|
| - Tier 3: $25,000 - $99,999 |
1.49% |
1.50% |
|
| - Tier 4: $100,000+ |
1.74% |
1.75% |
|
|
| MissionFuture4Kidz |
2.67% |
2.70% |
|
| MissionFirst |
1.00% |
1.00% |
|
| - IRA/CESA -- Adjustable Rate |
1.98% |
2.00% |
|
|
| - Health Savings Account -- Adjustable Rate |
| - Tier 1: $100 - $4,999 |
1.00% |
1.00% |
|
| - Tier 2: $5,000 - $9,999 |
1.49% |
1.50% |
|
| - Tier 3: $10,000 - $24,999 |
1.74% |
1.75% |
|
| - Tier 4: $25,000+ |
1.98% |
2.00% |
|
|
|
| MissionTermSelect -- Adjustable Rate |
| - 1-year term |
.40% |
.40% |
|
| - 3-year term |
1.39% |
1.40% |
|
| - 5-year term |
2.38% |
2.40% |
|
| - 7-year term |
3.06% |
3.10% |
|
| MissionTermSelect -- Fixed Rate |
| - 1-year term |
1.89% |
1.90% |
2.40% |
| - 2-year term |
2.38% |
2.40% |
2.90% |
| - 4-year term |
2.87% |
2.90% |
3.40% |
| - 6-year term |
3.94% |
4.00% |
4.50% |
| MissionTermSelectGrand -- Fixed Rate |
| - 1-year term |
1.99% |
2.00% |
2.50% |
| - 2-year term |
2.48% |
2.50% |
3.00% |
| - 3-year term |
2.87% |
2.90% |
3.40% |
*Interest rates are subject to change without notice.
**APY = Annual Percentage Yield.
† Bonus APY applies only to new MissionTermSelect and MissionTermSelectGrand fixed-rate IRAs purchased through April 15, 2010.
A MissionTermSelect or MissionTermSelectGrand investment may be held in a Traditional or Roth Individual Retirement Account or in a Coverdell Education Savings Account with UMB Bank, n.a., as custodian.
Loans
Effective November 1, 2009*
Loans to Established Congregations |
Rate |
| Long Term Loans -- Adjustable Rate |
6.00% |
| Long Term Loans -- Fixed Rate |
6.625% |
| Loans for Smaller Projects -- Adjustable Rate |
6.875% |
| Loans for Smaller Projects -- Fixed Rate |
7.125% |
| Loans for Second Sites |
5.00% |
Loans and Property Purchases for New-Start Congregations
The Mission Investment Fund makes loans available to new-start congregations at reduced rates to purchase land, or to construct or purchase their first church building. The interest rate is a reduction of 2.5% from the adjustable-rate MIF Long Term loan rate that is in effect at the time. The rate does not adjust during the term. Maximum term is up to10 years with an amortization schedule of 15 years.
The fund will continue to purchase and hold property for mission congregations for up to three years before a new building program. Annual payments of three percent of the value of the property will be applied 100% to reduce the loan necessary to purchase the land and construct a new church building or purchase an existing facility. Property will be transferred to a loan at the new-start rate after the three years it is held by the fund. If a site purchase is delayed, the period of delay will be considered part of the maximum 10-year term noted above. Any such loan (site and building) is considered part of the maximum 10-year term noted above.
Loans to ELCA-Related Ministries
Interest rates for Mission Investment Fund loans to ELCA-related ministries will be based on criteria that include, but are not limited to, a ministry's overall financial performance, collateral values as well as historic and future operating performance trends.
*Interest rates and terms are subject to change without notice.
The Mission Investment Fund does not charge points or origination fees for loans. Contact a loan administrator at 877.886.3522 for complete loan terms and conditions.
Mission Investment Fund investments are subject to certain risks. See "Risk Factors" following the introduction in the Offering Circular. MIF investments are not bank accounts. As securities issued by a non-profit institution, the investments are not insured by the FDIC, SIPC or any other federal or state regulatory agency. The securities are sold only by means of the Offering Circular. This is neither an offer to sell nor a solicitation of an offer to buy the securities described herein.