- Choice of terms
- $1,000 minimum investment
Congregations may use Term Investments to hold funds for endowments, cemetery associations or renovation projects. ELCA-related ministries, such as colleges and social ministry organizations, may use Term Investments to hold funds for endowments, scholarships or building projects.
The Mission Investment Fund offers three kinds of Term Investments:
- TERM INVESTMENT – Adjustable Rate investments have terms of six months to seven years. The interest rate is adjustable monthly, but not below specified U.S. Treasury securities yields. Additions of $100 or more may be made to the five- and seven-year options at any time prior to two years before the maturity date.
- TERM INVESTMENT – Fixed Rate investments have terms of six months to seven years. The interest rate is fixed at the beginning of the term and remains there for the full term. Interest is paid quarterly from the date of investment and can be sent directly to you by check or automatically reinvested. No additions to principal may be made during the term. For both the Adjustable and Fixed Rate Term Investment, minimum balances may vary, but may not be less than $1,000.
- TERM INVESTMENT GRAND – This fixed-rate term investment, similar to a jumbo CD, has a minimum investment of $250,000. Terms are one, two or three years. The interest rate is set at the beginning of the term and remains at that rate for the full term.
Note: MIF investments are not available in Kentucky.
Mission Investment Fund investments are subject to certain risks. See "Risk Factors" in the MIF Offering Circular. The fund's investments are not bank accounts. As securities issued by a nonprofit institution, the investments are not insured by FDIC, SIPC or any other federal or state regulatory agency. The securities are sold only by means of the Offering Circular. This is not an offer to sell or a solicitation of an offer to buy the securities described here.