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An offering circular (OC) or offering memorandum (OM) is a type of prospectus for bonds, alternative investments or private placement investments.  The circular is a legal document which states facts about the issuer, its objectives, risks and other terms regarding the issuer’s investment products.  The circular also provides information regarding the issuer’s financial statements, its management team and its overall activities and use of proceeds.

Types of Investments


The Loan Fund offers several different certificates for purchase and is defined as Debt Securities. A debt security is any debt instrument that can be bought or sold between two parties with defined terms, such as rate of interest, maturity dates and amount of purchase. Treasury bills, Government bonds, corporate bonds, CD's, municipal bonds, preferred stock and collateralized securities are all types of debt securities. While debt securities are considered safer than equities, they are slightly more risky than cash. The safety reserved in debt securities is in having the principal returned upon the maturity date.

Savings Certificates*

ELF savings certificates have no expressed maturity date and may be withdrawn from or increased at any time without penalty. Savings certificates carry a minimum investment of $50.00.

*We may adjust the interest rate on our Savings Certificates upon 30-days’ written notice.  Savings Certificates are not available for sale in Louisiana or South Carolina.  To accommodate South Carolina residents, we will only require a minimum of $250 on Fixed Rate Certificates sold in South Carolina.  Any Fixed Rate Certificate sold in South Carolina for a face value of less than $1,000 will bear interest at the Savings Certificate rate in effect on the date of issue (currently 0.75% APY).  This option for South Carolina residents is not available to Louisiana residents. 


Fixed Rate Certificates

ELF certificates are available in terms ranging from six months to five-years. All term certificates carry a minimum investment of $1,000.00


Individual Retirement Agreement (IRA, Traditional and Roth)

Extension Loan Fund IRA options include Traditional and Roth investments. This also includes rollover options from qualified retirement plans such as 401k and 403b and other qualified plans.

The maximum annual contribution for 2023 has increased to $6500 from $6,000 in 2022; for persons over the age of 50, the maximum contribution is capped at $7,500. 


Cover-dell Education Savings

A Cover-dell Education Savings Certificate Account (ESA), formerly called Educational IRA's, allows you to contribute money to an education fund that will grow tax-free.

Building Fund Certificates

Building Fund Certificates offer IPHC churches the opportunity to invest in a high yield certificate and provides for 12 withdrawals without penalty for purposes of building, construction and renovations to church facilities; which would also include planning, design, purchase or repair of buildings or land.  

The purchase of Extension Loan Fund (ELF) securities is subject to risks, which are described in the Offering Circular. This is neither an offer to sell nor a solicitation of an offer to buy ELF securities. Such an offer is made only by an Offering Circular and only in those states where the ELF securities may lawfully be offered or sold. ELF securities are not insured by the Federal Deposit Insurance Corporation (FDIC),Securities Investor Protective Corporation (SIPC), or any other state or federally regulated institution nor are they guaranteed by the International Pentecostal Holiness Church. 

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