Login to MyAccount
To Get Started
- Complete Fast Form, or
Detailed Application. - Review application for accuracy and completeness.
- Ensure each account owner signs the application.
- Complete the beneficiary designation or trust certification forms, as applicable.
- Mail all forms and your check to LCEF.
- Call 800-843-5233 if you have questions.
Family Emergency StewardAccount
Expecting the unexpected makes for good planning, that's why you might consider the LCEF Family Emergency StewardAccount. You never know when there may be a need for funds not allocated in your monthly budget. This investment builds over time with your systematic deposits through electronic funds transfer (EFT) and interest earned. But you can access the funds easily when you need them the most.
Features:
- Minimum $25 investment to open account.
- Minimum $25 monthly electronic investment required until account reaches and maintains a balance of $10,000 or more.
- Limit 12 checks per calendar year, with per-check minimum of $250.
- Initial quantity of checks FREE; check reorders competitively priced.
- Interest compounded and paid monthly.
- No monthly maintenance or membership fees.
- Free MyAccount online services, including e-statements.
For complete disclosure information about LCEF, see the Offering Circular or request a copy by calling 800-843-5233.
Note: The StewardAccount is not available to investors living in South Carolina. StewardAccount access services are offered through UMB Bank, n.a.
Fees may be charged for customer-initiated special service requests.
| Family Emergency StewardAccount Rate | May 2013 Rates | ||
| Minimum | Term | Rate | APY * |
|---|---|---|---|
| $25.00 | --- | 0.875% | 0.879% |
* APY is the annual percentage yield, representing the effective rate of interest when all principal and interest payments are retained in the investment balance.
Frequently Asked Questions
- Why invest in LCEF?
- Investments in LCEF serve a dual purpose: to earn a competitive rate of return for investors and to provide low-cost loans and support to LCMS ministries that seek to build God's Kingdom. Your dollars (invested or gifted) earn the "ministry dividend," the benefit of knowing that the funds help ministries fulfill the Great Commission.
- How often do investment interest rates change?
- Investment interest rates may change monthly based on regional and national rates published by the Bank Rate Monitor™. View all investment rates or call us at 800-843-5233, Monday through Friday from 7:45 a.m. until 4:15 p.m. (CT).
- What is a demand investment?
- A demand investment earns interest and allows funds to be added to the account or redeemed (withdrawn) without penalty. We also refer to these products as dedicated certificates (individuals), demand certificates (LCMS organizations/congregations) and StewardAccounts.
- How can I add to my investment?
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Most LCEF investments allow additional funds to be added at any time. For dedicated, demand and StewardAccounts, additional investments may be made electronically through MyAccount (LCEF's online financial service), wire transfer, ACH or by sending a check with an Investment Slip to LCEF.
Floating rate term notes allow additional investments of $25 or more to be made during the term.
Fixed-rate term notes allow additional funds to be invested but only at maturity, during the 20-day grace period.
- How do I make a partial or full redemption from my LCEF investment?
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Partial redemptions can be made from demand investments at any time (principal and/or interest). For dedicated and demand certificates and StewardAccounts, complete the redemption section of the Investment Slip and mail to LCEF. Unless otherwise instructed, a check will be issued.
StewardAccount holders have the ability to write checks or may have access to their funds via the debit card. (Debit card is not available on Family Emergency StewardAccounts and accounts with special signing restrictions).
Redemptions from term notes may be made at the expiration of their terms. Request for redemption must be in writing and signed by all account owners.
LCEF is not required to redeem any note prior to its maturity date. However, as a matter of policy, LCEF may redeem a note at the request of the investor upon a showing of need. When LCEF agrees to redeem a note, interest penalties may apply. For a partial redemption, the penalty is assessed on the amount of the withdrawal, not on the principal value of the note.
Remember, redemptions of investments under joint ownership require signatures from all account owners.
- How do I increase my automatic investment?
- Complete the Automatic Investment Authorization form and return to LCEF at least 10 business days before the next scheduled transaction date. You may also call 800-843-5233 and request that an authorization form be mailed.
- How do I stop my automatic investment into my LCEF account?
- Write or call LCEF at 800-843-5233 to revoke an existing automatic investment authorization. Requests to revoke must be received at least 10 business days before the next scheduled transaction date.
- How long does it take for an electronic transfer of funds from my bank to be credited to my LCEF investment account?
- Generally it takes two business days for an electronic transfer to post to your investment account.
- Why do I need to designate a beneficiary?
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There are good reasons why you will want to designate a beneficiary such as avoiding the probate process and ensuring your funds are distributed as you wish. Read more about Designating a Beneficiary on an LCEF investment.
- How do I verify the beneficiary named on my investment?
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You may confirm beneficiary information on an existing account by completing the Contact Us form or calling an LCEF Information Representative at 800-843-5233.
Your named beneficiaries are reflected on the Investment Certification acknowledgement that you received when the account was opened. If you subsequently added a beneficiary to an existing account or have made other changes to your original beneficiary designation, those modifications are acknowledged in a letter after the requests have been processed.
- How do I open a custodian investment for a child (minor)?
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Complete section "C" in Step 1 of the Individual Investment Application. The minor's Social Security number is required for reporting interest to the Internal Revenue Service (IRS).
Note: LCEF does not permit beneficiary designations on accounts for minors.
- How do I change the status of a minor's investment to an owner?
- LCEF requires an amendment form signed by the custodian to authorize the change and to obtain the signature(s) of the current owner(s). Call us at 800-843-5233 to request an amendment form.
- How do I change the ownership of my investment?
- Contact an LCEF Information Representative at 800-843-5233 to discuss your request and obtain the necessary forms to complete the modification.
- What is "unclaimed property" and how can I avoid having my account escheated to the state treasurer's office?
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Property is considered abandoned after a specific period of inactivity, which is usually three or five years (varies by state). At LCEF, abandoned or unclaimed property consists of investment accounts and uncashed checks (interest, remittance, etc.).
"Activity" is defined as action taken on the property (account) by the owner which includes making a deposit or withdrawal, or a correspondence (verbal/written) between the owner and holder (LCEF). The dates associated with these types of activities are recorded and represent an owner's 'claim' to the property.
When an account has met the period of inactivity, LCEF mails a due diligence letter to the owner(s) of the account encouraging the owner(s) to sign and return the letter or to call LCEF about their investment account or check. If no contact is made by the deadline listed in the letter, the account is closed and the proceeds are remitted to the treasurer's office in the state of the owner's last known address. The state is responsible for holding the property until it is delivered to the rightful owner(s).