Here are some of the questions that are most frequently asked about the Mission Investment Fund. Click on the question to access the answer.
What is the role of the Mission Investment Fund?
The Mission Investment Fund pays interest to Mission Investors on the financial resources they invest in the Fund. The Fund uses the investments to make loans to new mission congregations for purchases of land and construction of initial church buildings, and to established ELCA congregations for renovating or expanding existing church buildings, relocations,
refinancing
existing debt, and purchasing property. The Fund also makes loans to ELCA-related
ministries such
as seminaries,
colleges,
universities and
social ministry
organizations.
The Fund's church building consultants work with congregations that want to consider a building program or determine how existing facilities can be used to more effectively serve a congregation's mission. MIF architects are available to meet with congregations that are considering expansion or renovation projects.
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Why does the ELCA need investors?
Banks
generally do not
make loans to
new mission
congregations.
When a mission
congregation is
ready to
purchase land or
begin
construction of
its first church
building, the
Mission
Investment Fund
is usually the
only source of
financing. The
ELCA relies on
Lutheran
congregations
and their
members, synods
and ELCA-related
ministries to
invest their
financial
resources so that the capital required to develop new mission congregations and make loans to established ELCA congregations
and ELCA-related
ministries is available when needed.
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Will my investment benefit the entire church?
Yes. Your investment helps the ELCA to expand Christ's church throughout the United States, in Puerto Rico and the Virgin Islands. The Fund's ability to provide loans to mission congregations helps to lower the costs of acquiring land and constructing buildings for churches that are just getting started.
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Who invests in mission?
Nearly one-third of all ELCA congregations are currently Mission Investors, as are most ELCA synods and thousands of Lutherans who are members of ELCA congregations. In addition, a significant number of ELCA-related schools, colleges, universities, social ministry organizations
and outdoor
ministries have investments in the Mission Investment Fund.
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Must we be wealthy to invest in the MIF?
No. You may
invest at a
level that is
affordable for
you. The minimum
initial
investment is
$25.
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How much interest do our funds earn?
See the current interest rates for Mission Investments.
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How is interest paid to investors?
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Interest earned on MissionTermSelect-Fixed Rate and MissionTermSelect-Adjustable Rate investments is paid quarterly to the investor or reinvested quarterly, according to the investor's directions.
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Interest earned on MissionPlus investments is reinvested monthly.
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Interest on MissionFuture4KIDZ investments is reinvested quarterly.
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Is the Mission Investment Fund growing?
Since the formation of the ELCA in 1988, investments in Fund have increased from $65 million to more than $376 million
today, making the Fund one of the largest church-related loan funds in the United States. Loans are now at work in nearly
800 ministries
throughout the
ELCA. Additional investors are needed to assure the Fund's ability to continue making loans to developing ELCA ministries.
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Does the MIF provide loans to ELCA congregations?
Yes. The Fund's primary role is providing loans to mission congregations for land purchases and construction of initial church buildings. Established ELCA congregations are eligible to apply for loans from the Fund for land purchases, renovation, expansion or relocation projects,
or refinancing
capital debt with
another lender. The Fund also provides loans for capital projects to synods and ELCA-related ministries such as seminaries, schools, colleges, universities and social ministry organizations.
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What other resources does the ELCA provide to help congregations with building plans?
New mission congregations of the ELCA as well as established ELCA congregations may use the services of the
ELCA Mission Builders for their construction projects.
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How does an
ELCA ministry obtain a loan from the Fund?
An ELCA
ministry that is considering renovating or expanding an existing facility or building a new church can begin the loan application process by downloading an application, or by contacting an MIF loan administrator at 877.886.3522. Information is also available from the MIF area representative and church building consultant
who serves your
synod.
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How can I become a Mission Investor?
To start the process, representatives of congregations,
members of
congregations, ELCA synods and
ELCA-related
ministries may download the Offering Circular and Purchase Application for an investment. Or, you may obtain an MIF investment information packet by mail by calling MIF toll free at 877.886.3522, or by sending an e-mail to MIF. Please read the Offering Circular in its entirety before making an
investment decision.
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How can my congregation make automatic payments on our MIF loan?
To enroll in our automatic loan payment program, download a Payment Authorization form, (PDF), complete it and fax it to the MIF Loan department at 773.380.2817, along with a voided check.
