A letter from the president

As we reflect on the year behind us, we are reminded that the future we envision is already taking shape in the work we undertake today. Together, we are building a foundation that is not only strong and enduring, but also dynamic and responsive to the evolving needs of our ministries and communities. Much like a mosaic, where each distinct piece contributes to a greater design, the faithful commitment of our investors and the vision of our borrowers are creating a vibrant and unified expression of purpose and service. 

In a financial environment marked by complexity and change, the Mission Investment Fund (MIF) has remained a steady and trusted partner. Guided by disciplined stewardship, MIF continues to walk alongside congregations and ministries with confidence and compassion. Our financial strength allows us to extend support, not merely as a lender, but as a true partner in ministry, equipping our communities to thrive today and well into the future.

Mission Investment Fund in partnership

Year in review

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.

FIVE-YEAR SUMMARY

A year of transition.
A STEADFAST FINANCIAL PARTNER.

In a year of change, the Mission Investment Fund continued to be a source of resilience and stability. We closed the year at $212.8 million in total net assets. And at 27.5 percent, our capital ratio is well above regulatory requirements. Taken together, these indicators tell a story of a strong and healthy financial partner.

STATEMENTS OF FINANCIAL POSITIONS

$ IN THOUSANDS AS OF DECEMBER 31

STATEMENTS OF INCOME, EXPENSES, AND CHANGES IN NET ASSETS

$ IN THOUSANDS AS OF DECEMBER 31

Mission Investment Fund Products

INVESTMENTS

MIF investment products offer flexible terms and competitive interest rates. But our investments do more than simply grow your savings; they also help grow our church by providing loans to ELCA congregations and ministries.

LOANS

The Mission Investment Fund uses investors’ dollars to finance capital projects for ELCA congregations and ministries, including new buildings, additions, renovations, accessibility projects, “green” initiatives and land purchases, as well as loan refinancing. And MIF is often the only place where new ELCA congregations can obtain the financing they need. We offer competitive rates and terms, and because we are a ministry of the ELCA, we also offer a wealth of expertise in church and ministry financing that other financial institutions simply don’t have.