Mission Investment Fund 2021 update
2021 Assembly Reports: View reports for our 2021 assembly on our assembly report page and in this collection of blog posts.
2021 update in PDF | Brochure in PDF
MIF at work in the Grand Canyon Synod (as of December 31, 2020):
29 Mission Investment Fund loans, with a balance of $18,171,530
$9,178,058 in Mission Investment Fund investment obligations
MIF representative Joel S. Wudel, Regional Manager, Tel: 773-682-1765; email: joel.wudel@elca.org
MIF’s video on Paycheck Protection Program loans tells the beautiful story of the collaborative effort between MIF and the ELCA Federal Credit Union to offer much-needed assistance to congregations and ministries during this most difficult year.
MIF’s video on the ELCA’s Resourceful Servants program provides another testimonial of the collaborative work between MIF and the ELCA Federal Credit Union—this time, on the ELCA’s Resourceful Servants program to enhance emergency savings efforts for rostered leaders.
Partnering in faith
The Mission Investment Fund, a financial services ministry of the ELCA, provides a strong, stable, faith-based way for individuals, congregations and ministries to achieve their financial goals.
MIF provides a range of investments for individuals, congregations and ministries. We put those investments to work to fund building and renovation loans for congregations and ministries.
The result? Impact investments, with a transformative impact on our communities: Expanded worship spaces … new space for education and youth ministry … much-needed day care centers for working families … industrial-grade kitchens and fellowship halls for community meals.
During the year-long pandemic, MIF provided assistance to investors who needed immediate access to their funds and to borrowers who needed flexibility with their loan payments. We collaborated with our ministry partner, the ELCA Federal Credit Union, to offer expedited loans for congregations, ministries and individuals, as well as Paycheck Protection Program loans for congregations and ministries to keep employees on the payroll and continue operations.
Our capabilities and capacity have never been stronger. At year-end 2020, MIF had 883 loans outstanding, totaling $596.4 million. Investment obligations totaled $543.1 million. With total assets of $773.8 million and net assets of $218.2 million at year-end 2020, MIF maintains a capital ratio of 28.20 percent—positioning MIF in the top tier of well-capitalized church extension funds.
Our steadfast support continues for the members, congregations and ministries of the ELCA and the many ways you care for a world in need. We are honored and humbled to walk alongside you as a trusted partner.
For more information about MIF capabilities, please visit our website, mif.elca.org.