Complete Story
04/16/2020
MIF and ELCA Credit Union is here to assist customers during this COVID-19 crisis
Both the Mission Investment Fund and the ELCA Federal Credit Union have expressed the willingness and capacity to offer assistance to our investors and borrowers who are facing hardship during the COVID-19 crisis. Eva Roby (letter attached) has written to all of our customers and to synod bishops to share news of how we can help. Our website homepage message announces the assistance that we can provide – and we link to a special page, www.mif.elca.org/important-information, listing specifics of our operations at this time.
As we navigate the COVID-19 pandemic, the Mission Investment Fund and the ELCA Federal Credit Union remain trusted partners of the members, pastors, congregations and ministries of the ELCA. As the investment and lending ministry of the ELCA, MIF has resources that can provide much-needed help for customers that may be experiencing financial hardship at this time—the congregations and ministries that have MIF loans as well as individual and congregation investors. The ELCA Federal Credit Union, too, is able to provide similar assistance to its members—ELCA pastors, members, congregations and ministries. For specifics on what the Mission Investment Fund and ELCA Credit Union are doing and how to reach them, read on.
The Mission Investment Fund is providing no-penalty access to term deposits for customers who need emergency access to their funds at this time. For congregations and other ministries that need assistance with loans, MIF can offer such relief as:
- Deferral of loan payments
- Interest-only loan payments
- Loan modifications
- Lines of credit
- New emergency loans
To learn how MIF can help, contact MIF via phone, 877-886-3522, Monday, Wednesday and Friday from 10:00 a.m. to 2:00 p.m. (Central time). Reach MIF via email at mif.customerservice@elca.org or mif.loans@elca.org.
The ELCA Federal Credit Union is providing similar assistance. For members of the Credit Union who need emergency access to their funds at this time, the Credit Union is providing no-penalty access to certificates of deposit. For individuals, congregations and other ministries needing assistance with loans, the Credit Union is prepared to offer:
- Deferral of loan payments
- Interest-only loan payments
- Loan modifications
- Expedited credit card issuance and lines of credit
- Expedited personal loans
- New emergency loans
To discuss assistance from the ELCA Federal Credit Union, call 877-715-1111 or send an email to info@elcacu.org.
