and Promote Its Ongoing Work
RESOLUTION 10-02
Report R16 (CW, pp. 88–90); President’s Report, Part 2 (TB, pp. 21–31)
WHEREAS, One of the objectives of the Synod is to promote biblical stewardship and fiscal responsibility; and
WHEREAS, Lutheran Federal Credit Union (LFCU) was granted a nationwide charter by regulators at the National Credit Union Administration to serve exclusively The Lutheran Church—Missouri Synod (LCMS) community in all 50 states; and
WHEREAS, This charter was the first faith-based nationwide charter granted in the past 15 years; and
WHEREAS, LFCU was an initiative started and supported by the Lutheran Church Extension Fund (LCEF) after many years of consideration and execution through the process steps of charter approval by federal regulatory agencies; and
WHEREAS, On May 1, 2015, LFCU began initial operations in a silent phase; and
WHEREAS, At the LCEF Fall Conference on November 22, 2015, LFCU announced that it was opening its operations to the entire LCMS community nationwide; and
WHEREAS, LFCU utilizes the newest technology to deliver an exceptional transactional banking experience for its members; and
WHEREAS, LFCU is a ministry-based replacement for secular providers of daily household financial products and congregation business accounts; and
WHEREAS, LFCU is a way to connect our LCMS together in a common bond of biblical stewardship and daily household financial management, with a special appeal to younger members who enjoy the convenience of our products and the intent of our mission; and
WHEREAS, LFCU is in ministry partnership with the LCEF to provide advantageous home loans to support rostered church workers in all 50 states; and
WHEREAS, LFCU will be a source of sponsorship and grants exclusively for LCMS ministries; therefore be it
Resolved, That the Synod in convention encourage individual members of LCMS communities, rostered church workers, congregations, agencies, and auxiliaries of the LCMS to use the products and services offered by LFCU; and be it further
Resolved, That the Synod in convention give thanks to God for the successful startup of the LFCU and encourage wide support of this new ministry tool, with encouragement and prayers that God would bless the LFCU and those it serves.