INVESTMENTS
At the Extension Loan Fund, we believe our investments are among the best of social investing opportunities, as invested funds are used primarily to fund loans to churches to expand the Kingdom of God, and we believe scripture has much to say about investing.
Invest regularly
"Steady plodding brings prosperity; hasty speculation brings poverty."
Proverbs 21:5
Invest with liquidity in mind
"Teach those who are rich in this world not to be proud and not to trust in their money, which is so unreliable. Their trust should be in God, who richly gives us all we need for our enjoyment. Tell them to use their money to do good. They should be rich in good works and generous to those in need, always being ready to share with others. By doing this they will be storing up their treasure as a good foundation for the future so that they may experience true life." 1 Timothy 6:17-19
Invest with diversity and be diligent
"Send your grain across the seas, and in time, profits will flow back to you. But divide your investments among many places, for you do not know what risks might lie ahead. When clouds are heavy, the rains come down. Whether a tree falls north or south, it stays where it falls. Farmers who wait for perfect weather never plant. If they watch every cloud, they never harvest. Just as you cannot understand the path of the wind or the mystery of a tiny baby growing in its mother’s womb, so you cannot understand the activity of God, who does all things. Plant your seed in the morning and keep busy all afternoon, for you don’t know if profit will come from one activity or another—or maybe both." Ecclesiastes 11:1-6
TYPES OF INVESTMENTS
Savings Certificates*
ELF Savings Certificates have no expressed maturity date and variable interest rates. Investors may redeem all or a portion of the principal balance, and accrued unpaid interest may be withdrawn from or increased at any time without penalty. Savings certificates carry a minimum investment of $100.00.
*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.
Building Fund Certificates
Building Fund Certificates offer IPHC churches the opportunity to invest in a type of 12-Month Fixed Rate Certificate that generally pays a higher rate of interest than our Savings Certificates while providing for 12 monthly withdrawals during the term 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.
This shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of these securities in any state in which such offer, solicitation, or sale is not authorized. The offering is made solely by the Offering Circular available at elfiphc.org. Past performance does not guarantee future results. Rates offered above are subject to change. These securities are unsecured debt securities subject to the terms, conditions and risks described in our Offering Circular, including risk of possible loss of the amount invested. Payment is dependent on our financial condition at the time payment is due. These securities are not bank deposits, are not insured by the FDIC, SIPC, or any other state or federal agency, and are not guaranteed by any denomination.
APR = Annual Percentage Rate; APY = Annual Percentage Yield. Interest “yield” assumes that the investor elects to have all interest accrued and compounded, and not to receive payments of interest.
CURRENT INTEREST RATES
Interest rates currently offered on Certificates pursuant to the Offering Circular are as set forth below. These rates may be amended at any time by ELF in our discretion. The interest rates for Fixed Rate Certificates, IRA Certificates, and Building Fund Certificates are fixed for the duration of the term. The interest rates for Savings Certificates are variable, and we may change the applicable interest rate from time to time upon at least 30 days’ prior written notice.
SAVINGS CERTIFICATES
Demand Account
AMOUNT
$100.00
10K
50K
APR
0.75%
1.00%
1.25%
APY
0.75%
1.00%
1.25%
FIXED RATE CERTIFICATES
6MTH
APR
3.15%
APY
3.20%
12MTH
APR
3.25%
APY
3.30%
24MTH
APR
3.25%
APY
3.30%
36MTH
APR
3.30%
APY
3.35%
60MTH
APR
3.75%
APY
3.82%
IRA CERTIFICATES
24MTH
APR
3.25%
APY
3.30%
60MTH
APR
3.45%
APY
3.50%
BUILDING FUND CERTIFICATE
12MTH
AMOUNT APR APY
$1,000+ 3.20%. 3.25%
Available to churches, organizations, and institutions.
Requires a minimum $50.00 each month.
Premium rate does not apply to Building Fund Certificates.
