Investment Products
Investment Products with a Higher Purpose
Church Extension Fund depends on individual investors - Michigan Lutherans from every walk of life that see the advantages of investing a portion of their savings dollars in one or more of the available CEF investment solutions. To attract these investors across the Michigan District, CEF constantly strives to deliver innovative investment products and competitive interest rates.
Today, you may choose from numerous options, with programs designed for every stage of life. You’ll likely find rates comparable to or better than local banks or credit unions. What’s more, your interest earnings may be left to accumulate and compound in your account, or you may elect to receive regular interest payments. With Automatic Cash Transfer (ACT) service, you may also have your interest earnings deposited directly into your local bank. In short, Church Extension Fund offers virtually every advantage of other financial institutions, but with one very important extra - your savings dollars help build churches!
Please consider these investment offerings as a means of joining your Lutheran family in building the future of the Michigan District:
InvestFlex Fixed Rate 2+2 Notes view current rates
- Make 2 additions and 2 redemptions to the Note without penalty (without going below your original investment).
- Low $2,500 minimum initial investment.
- 17-month maturity.
ExtensionPlus Accounts view current rates
- Allows immediate access to your money.
- Includes the convenience of writing checks ($250 minimum) plus the option of a VISA® CheckCard for retail purchases and ATM cash withdrawals.
- $100 minimum investment and $100 minimum balance required.
- Interest rate based on account balance.
- Additions may be made automatically through ACT. Call for details.
To find out more, please contact us.
Dedicated Savings view current rates
- Permits additions and redemptions at any time.
- Open with only a $5 minimum investment.
- Move money in or out anytime through Automatic Cash Transfer. (ACT), or Call-Redemption service.
Fixed Rate Notes view current rates
- Choose your own exact maturity date from 3 to 60 months.
- $500 minimum investment: Interest rate fixed for length of term.
Variable Rate Notes view current rates
- $500 minimum investment; terms of 1, 2 1/2 or 5-years.
- Interest rate adjusts quarterly.
- $100 minimum addition any time while maintaining the same maturity date. Additions may be made automatically through ACT. Call for details.
Growth Notes view current rates
- Ideal way to save for significant lifetime events.
- 6 to 20-year terms available.
- Interest fixed and compounded until maturity.
- Minimum investment is amount required to reach $1,000 at maturity.
Step-up Rate Notes view current rates
- Combines easy cash access with attractive interest.
- Offers no-penalty access to investments every six months.
- Interest rate steps up to a higher percentage every six months.
- 24 month term; $500 minimum investment.
Individual Retirement Accounts (IRAs)
- Choose from many of the CEF's investment plans to open your CEF Traditional and Roth IRA Accounts.
- IRAs provide tax-advantaged savings.
- You may also “rollover” or transfer an existing IRA or Qualified Retirement Plan into a CEF plan. Call for details.
To find out more, please contact us.
Coverdell Education Savings Accounts
- Formerly known as Education IRAs.
- Anyone may contribute (parent, grand-parent, friend).
- Savings Accounts may be used for primary, secondary or college education.
To find out more, please contact us.
Savings Stamp Programs
- Available for day-school and Sunday school children to learn how to save for the Lord’s work and for themselves.
- 25-cent and one-dollar Savings Stamps accumulate to open their Dedicated Savings in the child’s name.
ACT (Automatic Cash Transfer)
With Automatic Cash Transfer (ACT) from Church Extension Fund, you can enjoy completely automatic savings by having your funds withdrawn from your bank account on a regular basis and deposited in your Dedicated Savings, ExtensionPlus or Variable Rate Term Note Accounts.
With this feature your checking or savings account is debited on the 10th, 20th or last day of the month. You will receive a mailed receipt for every transaction and all transactions are reflected on your semi-annual statements as well.
Automatic Interest Transfer
In the same manner, you can enjoy the safety and convenience of having the interest earnings from your Fixed or Variable Rate Term Note account deposited directly into your checking account at your local bank. Gone are the hazards of sending checks in the mail.
Automatic Withdrawals
Another benefit of ACT is the option of automatic withdrawal of a predetermined amount from your CEF savings on a monthly or quarterly basis. These funds can be deposited into a checking account elsewhere...a safe and convenient way to provide financial assistance to a college student or other loved ones away from home.
Automatic Payments
Borrowers from CEF may elect to have their loan payment automatically deducted from their local bank account and credited to their loan at CEF. Again, avoiding the hassle of writing checks each month...and the payment arrives on time!
Please call 800-242-3944 for more information.
