CHICAGO (ELCA) -- The Mission Investment Fund (MIF) of the Evangelical Lutheran Church in America (ELCA) announced new interest rates for fixed- and adjustable-rate investments it offers to ELCA congregations, members, synods and ministries related to the church.
The MIF's primary mission is to provide loans to mission congregations to purchase land and construct church buildings and to established ELCA congregations for renovation, expansion and relocation projects.
"Through the commitment of its faithful investors, MIF helps build the Evangelical Lutheran Church in America by providing loans and services to ELCA congregations and other related ministries," said the Rev. Arnold O. Pierson, MIF vice president for church relations and communication.
Interest Rates for Adjustable-Rate Investments for August 2004
+ MissionPlus (2 percent): This investment provides a checkbook that investors may use to write checks in amounts of $250 or more.
+ MissionFuture4KIDZ (4.1 percent): This investment may be purchased by adults for children from birth to age 16. The investment may be opened with a $50 initial deposit and matures on the young person's 18th birthday.
+ MissionFirst (2 percent): This is a savings investment plan that can be opened with a minimum investment of $25.
+ MissionTermSelect (unsecured investment obligations issued by the Mission Investment Fund):
1-year term 2.2 percent
3-year term 3.4 percent
5-year term 3.8 percent
7-year term 4.3 percent
+ MissionAdvantage: These are MissionTermSelect investments that may be held as traditional or Roth individual retirement accounts (IRA) or in Coverdell Education Savings Accounts (CESA), with Fifth Third Bank as custodian:
No stated term to maturity: 2.0 percent
Interest Rates for Fixed-Rate Investments for August 2004
MissionTermSelect investments:
2-year term 3.0 percent
4-year term 3.7 percent
6-year term 4.2 percent
MissionAdvantage investments:
2-year term 2.8 percent
4-year term 3.7 percent
6-year term 4.2 percent
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* David Dalton is marketing editor for the Mission Investment Fund.
Information about MIF interest rates can be obtained by calling (877) 886-3522 (toll free) or via e-mail at mif@elca.org. The MIF is at www.elca.org/mif on the ELCA Web site.
Mission Investments are securities that are sold only by means of the Offering Circular, which can be obtained from the Mission Investment Fund. Mission Investments are subject to certain risks. See "Risk Factors" following the introduction in the Offering Circular. As securities issued by a non-profit institution, the investments offered by the Mission Investment Fund are not insured by FDIC, SIPC or any federal or state regulatory agency. This is neither an offer to sell nor a solicitation of an offer to buy these investments.
For information contact:
John Brooks, Director (773) 380-2958 or news@elca.org
http://www.elca.org/news
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About the Evangelical Lutheran Church in America:
The ELCA is one of the largest Christian denominations in the United States, with 2.8 million members in more than 8,500 worshiping communities across the 50 states and in the Caribbean region. Known as the church of "God's work. Our hands.," the ELCA emphasizes the saving grace of God through faith in Jesus Christ, unity among Christians and service in the world. The ELCA's roots are in the writings of the German church reformer Martin Luther.
For information contact:
Candice Hill Buchbinder
Public Relations Manager
Candice.HillBuchbinder@ELCA.org
