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.
Term Note
With LCEF Term Notes, it's all about your choices. For an account that works best for you, start by choosing how long you want to invest, then choose from one of the several fixed- or floating- interest rate options. At the end of the term, the funds remain yours to re-invest or redeem.
You may select:
- Fixed-Rate Term Note—this note carries a constant interest rate, and requires a $500 minimum investment. Variety of terms available from 6 months to 5 years.
- Floating-Rate Term Note—rate may be adjusted monthly based on prevailing market rates, and requires a $100 minimum investment. 30-month and 60-month terms available. Investments of $25 or more accepted throughout the term.
LCEF offers term notes with a 20-day grace period at maturity. Should you need to make a change to the amount or length of the investment term, you have 20 calendar days after the maturity date to do so without incurring a penalty.
For complete disclosure information about LCEF, see the Offering Circular or request a copy by calling 800-843-5233.
Fees may be charged for customer-initiated special service requests.
| Term Note Rates | May 2013 Rates | |||
| Minimum | Term | Rate | APY * | Penalty |
|---|---|---|---|---|
| Term Note - Fixed | ||||
| $500.00 | 6 months | 0.125% | 0.125% | 90 days of interest |
| $500.00 | 9 months | 0.250% | 0.250% | 90 days of interest |
| $500.00 | 1 year | 0.375% | 0.376% | 90 days of interest |
| $500.00 | 18 months | 0.500% | 0.501% | 90 days of interest |
| $500.00 | 2 years | 0.625% | 0.626% | 90 days of interest |
| $500.00 | 3 years | 0.875% | 0.878% | 120 days of interest |
| $500.00 | 5 years | 1.250% | 1.256% | 180 days of interest |
| Term Note - Floating | ||||
| $100.00 | 30 months | 0.350% | 0.350% | 120 days of interest |
| $100.00 | 60 months | 0.800% | 0.802% | 180 days of interest |
* APY is the annual percentage yield, representing the effective rate of interest when all principal and interest payments are retained in the investment balance.
Penalty structure for Term Notes issued/renewed prior to Oct. 1, 2012
Show penalty structure.
| Term of Note | Interest Forfeited |
| 6 months — 2 years | 30 days interest |
| 30 months — 3 years | 60 days interest |
| 4 years — 10 years | 90 days interest |
| 11 years — 15 years | 120 days interest |
| 16 years — 20 years | 180 days interest |
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).
- 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).