Frequently Asked Questions
The Mission Investment Fund (MIF) is a ministry of the ELCA that makes loans to ELCA congregations and related ministries for capital building projects and land purchases. The fund finances the loans through the sale of investments to ELCA congregations and their members, synods and ELCA-related ministries.
The Mission Investment Fund offers an array of investment products with flexible terms and competitive rates. Our Term Investments offer fixed-rate and adjustable-rate options and a choice of terms. Our Demand Investments offer checkbook availability on interest-bearing accounts. Our special MIF4KIDZ account is an excellent savings tool for children from birth through age 16. MIF also offers Retirement Savings Accounts, Education Accounts, and Health Savings Accounts.
Loans by the Mission Investment Fund help build the mission and ministry of the church. MIF loans finance capital projects for ELCA congregations and ELCA-related ministries, including new buildings, additions, renovations, accessibility projects, “green” initiatives, land purchases, and refinancing of loans. MIF loans replace boilers, expand Sunday school classrooms, start up soup kitchens, and build new sanctuaries. Big or small, our loans help thousands of congregations and ELCA-related ministries accomplish their critical goals.
The ELCA relies on congregations, their members, synods and ELCA-related ministries to invest their financial resources in the Mission Investment Fund so that we have the capital required to develop new mission congregations and make loans to established ELCA congregations and ELCA-related ministries. In fact, when a new mission congregation is ready to purchase land or begin construction on a new or existing facility, the Mission Investment Fund is usually the only source of financing available to it.
Yes. Your investment helps the ELCA expand the church's mission and ministry across the United States, Puerto Rico and the Virgin Islands. The Mission Investment 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. To learn about some of the ministries the Mission Investment Fund finances with its loans, visit Stories to Inspire.
ELCA congregations, their members, synods, and ELCA-related ministries—from social ministry organizations to colleges, universities, and seminaries—enjoy the opportunity to purchase Mission Investment Fund investments. MIF makes loans for capital projects to new and established congregations as well as ELCA-related ministries of all types.
The short answer is: “right now.” Anytime and at any age is a good time to begin investing in the Mission Investment Fund. And it’s always a good time to build the mission and ministry of the church. Getting started is easier than you think. The minimum initial deposit for a Mission Investment Fund investment is just $5.
For nearly 100 years, the Mission Investment Fund and its predecessors have proven themselves to be strong, stable investment and lending institutions. MIF has strong safeguards in place to protect the security of all investments. We employ loan underwriting guidelines that are prudent, competitive and reflective of current market conditions. We have capital, or equity, of $190 million, resulting in an equity ratio (net assets to total assets) of more than 28 percent.
This impressive financial position, coupled with our strong liquidity, helps assure our ability to offer security to our investors, meet our financial obligations and carry out our mission to help build the church by providing manageable ministry loans for capital projects.
Mission Investment Fund loans offer highly competitive rates. What’s more, MIF is backed by nearly a century of experience in church-related building projects. Indeed, no one understands the borrowing needs and goals of congregations better than we do. And MIF does not charge points or origination fees for its loans.
Our Church Building Consultants can guide your congregation or ministry through the intricate construction process from start to finish. We will review your ministry goals to help you design a building that supports your mission. And we’ll help develop a financial plan based on your congregation’s income, expenses and debt capacity.
Yes. Our Church Building Consultants are accredited under LEED (Leadership in Energy and Environmental Design) and work with congregations on how to incorporate sustainable designs that reduce environmental impact and lower energy costs. To learn more, view our green videos and contact MIF’s Church Building Consultants.