In a year marked by transition and renewed possibility, the Mission Investment Fund (MIF) remained a steady partner in ministry—walking with you as the church continues to adapt, grow and serve in new ways.
After years of rising interest rates, the Federal Reserve held rates steady in late 2024—a pause that brought cautious optimism. Like many financial institutions, MIF faced persistent challenges throughout the year, including sustained margin pressure and shifting investor expectations amid economic uncertainty. Through it all, MIF moved forward with resilience, innovation and a deep sense of purpose—staying focused on what matters most: supporting the mission and ministry of the church through strong financial stewardship, relationship-driven service and a shared commitment to the future.
We closed the year with total assets of $774.6 million and net assets of $212.8 million. Our capital ratio rose to 27.5 percent—well above regulatory requirements—reflecting disciplined balance sheet management and ensuring our continued ability to support ministry in both steady and uncertain times.
Lending activity reached a new high, with our loan portfolio growing to $610.5 million. This growth is not just financial—it represents churches building new spaces, schools expanding programs and ministries stepping forward with bold vision.
At the same time, total deposits from our 11,322 investors held steady at $547.5 million. Many investors chose Fixed-Rate Term Investment accounts in 2024, seeking both stability and competitive returns in a shifting economy. This trend reflects the deep trust our investor base places in MIF as they align their financial decisions with their faith.
Behind each investment is a story of faith—and we are honored to bring those stories to life. Your investments have made a difference. Congregations, synods, and ministries across the ELCA used MIF loans to renovate worship spaces, support affordable housing and reimagine how their properties can serve their communities.
In addition to lending, MIF provided $2.6 million in ministry support this year—funding essential work within the ELCA Churchwide Organization and throughout the wider church. This commitment remains core to who we are: a financial ministry grounded in the life of the ELCA and shaped by the call to serve.
We were also honored to establish new partnerships this year, most notably with Lutheran Services in America’s Housing Solutions Leadership Circle. This collaborative effort will help congregations explore how underutilized property can be used for housing—improving community stability and transforming lives through faith in action.
Sustainability remained a key focus. In alignment with the ELCA’s creation care commitments, we helped ministries take advantage of new federal incentives through the Inflation Reduction Act—supporting solar installations and energy-efficient upgrades that reduce costs and environmental impact while staying true to core values.
We also invested in the future of your experience with us. A new mobile app and enhanced online banking platform will launch in early 2025, making it easier than ever to manage your accounts. These tools reflect our continued focus on convenience, security and service, while preserving the personal, relationship-based approach that has always defined MIF.
This commitment to innovation extends beyond technology. Together with the ELCA Federal Credit Union, we’re designing a more integrated experience to offer a full suite of financial services to ministries and members alike. By combining our strengths, we are building a future where trust, access and mission go hand in hand.
Every investment in MIF is more than a financial decision—it is an act of faith. It is a vote of confidence in the church’s work and a step toward a future grounded in purpose. Thank you for your trust, your partnership and your shared vision. We look forward to serving you—and serving with you—in the year ahead.