Home » About » Matching Deposits
Matching Deposits
About Matching Deposits
What is a Matching Deposit?
Matching deposits are unique to the LLL. They are a way for you to ensure that your LLL deposit account helps support a particular project of the Lutheran Church of Australia (LCA), be that a congregation, school or care organisation etc.
How Matching Deposits work
1. Open an LLL Deposit Account
You will enjoy:
- An attractive interest rate
- No minimum balance
- Funds available ‘at call’
- No account keeping or transactions fees
- Internet access, with unlimited transactions
2. Nominate your Deposit Account to be a Matching Deposit to any LCA project by
completing the matching deposit instructions on the account opening form to advise us which LCA project you wish to support. It could be a
- Lutheran school
- Lutheran congregation
- any LCA project
Of course, you do not have to nominate your account as a matching deposit account but please consider how you can provide further assistance to particular church projects.
3. Matching Deposit Accounts support low interest loans
When approved, your nominated project is able to borrow funds from the LLL at the low interest rate of 5% with no fees or charges.
LLL loans are normally much lower than commercial lending rates, so the project enjoys significant savings for the duration of the loan.
Changing your Matching Deposits instructions
At any time your matching deposit instruction can be changed to support another project and/or multiple projects, simply by writing to the LLL.
If you would like to change the matching deposit instruction on your existing account please complete the Matching Deposit Instruction Form.