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COVID-19 Message

Lutheran Association for Church Extension (LACE) is closely monitoring the outbreak of Coronavirus (COVID-19) and has prepared to continue our operations even while practicing the restrictions placed on us by this devastating disease. These past days have seen unprecedented financial distress and growing concerns. While uncertainty abounds with each day, we remain in a strong financial-capital position. LACE has operated for over 50 years while having endured many events and obstacles. By God’s grace, we have grown and have remained faithful and strong.

LACE will be able to continue operations (including transactions) through any potential disruption or quarantine. The only delays we could possibly anticipate would be in monetary transactions based on availability of service with our bank (Fifth Third) and of course the US Postal Service. Our office is currently closed for personal service but our staff is available by email, for Jessica (LACE secretary); This email address is being protected from spambots. You need JavaScript enabled to view it. , for Lois (LACE accountant); This email address is being protected from spambots. You need JavaScript enabled to view it. , for Don (Our CEO and president) This email address is being protected from spambots. You need JavaScript enabled to view it. , or by leaving a message on our phone service at (989) 781-1600. If you prefer to use the postal service, our address P.O. Box 6402, Saginaw, MI 48608.

We love our Church and we love our churches and church organizations, which is why LACE has instituted a procedure of postponing the loan payments of our churches and church organization clients.

If you find yourself in this predicament of short falls of cash flows due to the Covid-19 virus please:

  1. Write or email us of your situation so then we can stop any ACH auto-payments that are set up and document in the file the reason for this action.

We will then postpone your loan payment date in our system. When we are all out of this crisis your payment interest that has accrued will be capitalized into the current balance of the loan, you can then continue to make the payments as agreed.

We are here to help you return your focus to serving the people in your community and sharing the Gospel of Jesus Christ as quickly as possible.

Investments

Loan Certificates are certificates with either a 2, 3 or 5-year term that will pay out the interest annually or the interest can be reinvested in the certificate each year.

The certificate can be "designated" to a particular congregation that is working with LACE on a loan program.

Up to 4%

Check out our rate chart HERE

The purchase of LACE’s securities is subject to risks, which are described in our Offering Circular. This is not an offer to sell you our securities and we are not soliciting you to buy our securities. We will offer and sell our securities only in states where authorized. The offering is made solely by the Offering Circular.

Demand Certificates are payable within 30 days of demand by the certificate holder. Interest is paid annually or the interest can be reinvested in the certificate each year. Demand certificates are not "designated" to a particular congregation.

These Demand Certificates will be used to help LACE fulfill its mission of providing low cost loans to other WELS/ELS congregations and religious organizations.

IRA Investment Certificates are payable within 30 days of demand by the certificate holder. The interest is paid annually and the annual interest payments will be reinvested in the certificate. Please call the LACE office for more information on IRA Investment Certificates.

Wednesday, July 08, 2020