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LACE offers three types of certificates.
Loan Certificates, Demand Certificates and
IRA Investment Certificates.
Each earn interest for the investor and the interest rate is determined by the criteria set forth in the Annual Offering Circular.
LOAN CERTIFICATES
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.
DEMAND CERTIFICATES
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
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.
CERTIFICATE RATES
Type |
Term |
|
Investment Minimum |
Penalty for early redemption |
Loan Certificate * |
2 Year |
0-2.50% |
$250 |
Up to 3 months interest earned |
| |
3 Year |
0-3.00% |
$250 |
Up to 3 months interest earned |
| |
5 Year |
0-3.75% |
$250 |
Up to 6 months interest earned |
Demand** |
*** |
1.50% |
$250 |
N/A |
IRA** |
*** |
4.00% |
$5,000 |
N/A |
*Interest paid annually. Semi-Annual, Quarterly and Monthly interest may be requested if the amount of the investment is above $25,000, $50,000 and $100,000 respectively.
** Interest paid annually
*** Payable within 30 days of LACE's receipt of a written demand for redemption by the Certificate Holder except in the state of South Carolina where Demand Certificates are not offered and IRA Certificates have a 5-year term.
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To receive an Offering Circular please contact us via e-mail, phone or written correspondence. Also, see below to download a copy.
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DOWNLOAD THE FORMS:
LACE Annual Offering Circular 2012
LACE Demand and Loan Certificate Application (writeable)
LACE Interest Rate Chart 5-11
 [DOWNLOAD FREE READER HERE]
*The purchase of LACE certificates is subject to risks, which are described in LACE's Offering Circular. This advertisement is not an offer to sell or request to buy LACE certificates. The offering is only made through the Offering Circular. LACE will not sell securities in any state where the sale is not authorized.
Not FDIC or SIPC insured - Not a bank deposit - No WELS or ELS guarantee
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