wfn.org | ELCA Mission Investment Fund Launches Investment for Children

[News News <NEWS@ELCA.ORG>]

ELCA NEWS SERVICE

July 28, 2000

ELCA MISSION INVESTMENT FUND LAUNCHES INVESTMENT FOR CHILDREN
00-178-FI

     CHICAGO (ELCA) -- The Mission Investment Fund (MIF) of the
Evangelical Lutheran Church in America (ELCA) launched a new investment
product July 1 that was designed for parents, family members and friends
who want to invest funds for a child's future and help to build the
future of the Lutheran church.  A "MissionFuture" term investment can be
purchased by an adult for a child at any time from a child's birth until
his or her 16th birthday.
     The investment matures on a young adult's 18th birthday, when it
is paid in full or may be invested by the 18-year-old in another Mission
Investment.  A minimum original investment of $50 is required and
principal additions of at least $50 can be made at any time.
     Funds invested in MissionFuture and other MIF investments by ELCA
members, congregations and ELCA-related institutions are used to make
low-interest loans to ELCA mission congregations for capital needs, such
as purchasing land and constructing church buildings.  More than 600
loans are currently in effect with mission congregations throughout the
United States, Puerto Rico and the U.S. Virgin Islands.
     "Parents, grandparents, aunts, uncles, other family members and
friends will find the MissionFuture investment to be a great way to
celebrate the significant events in the life of a child," said the Rev.
Arnold O. Pierson, MIF vice president for marketing.
     Pierson said additions to MissionFuture investments can be made at
any time in honor of events such as births, baptisms, confirmations,
birthdays, graduations, Easter and Christmas.  Interest is added to the
principal of MissionFuture investments on a quarterly basis.
     The Mission Investment Fund has three other investment offerings.
Interest rates on adjustable-rate investments are determined on Jan. 1
and July 1 each year.  The rates for MIF investments as of July 1, 2000,
are:

MissionPlus     5.1%
(provides a checkbook which investors can use to write checks for a
minimum of $500)

MissionTerm (adjustable rate)
     - 1 year term  6.4%
     - 3 year term  6.3%
     - 5 year term  6.2%
     - 10 year term 6.1%

MissionTerm (fixed rate)
     - 2 year term  6.4%
     - 4 year term  6.3%
     - 6 year term  6.2%

MissionIRA (adjustable rate)
     - 3 year term  6.3%
     - 5 year term  6.2%
     - 10 year term 6.1%

MissionIRA (fixed  rate)
     - 2 year term  6.4%
     - 4 year term  6.3%
     - 6 year term  6.2%

EDITORS: Information packets can be obtained from the MIF by calling (800)
638-3522, ext. 2943.

For information contact:
John Brooks, Director (773) 380-2958 or NEWS@ELCA.ORG
http://listserv.elca.org/archives/elcanews.html