One percent is earned when investments reach 100 percent of the loan amount. The level of participation in this rebate program indicates its effectiveness, according to Vic Bryant, LCEF acting president. Since most congregations that have LCEF loans receive a rebate, it means their actual interest rate is one-half to 1 percent lower than the stated rate. Using funds invested by Missouri Synod members, LCEF provides loans to congregations, schools and other Lutheran organizations that need facilities to teach and preach the Gospel. New-start congregations can obtain a special interest rate to help them grow in their early years.
Loans also help associations of congregations for other ministries, such as high schools and camps.