ELCA NEWS SERVICE
July 28, 2004
ELCA Mission Investment Fund Announces New Interest Rates
04-138-DD*/JB
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 [log in to unmask] 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 [log in to unmask]
http://www.elca.org/news
