No interest = Benefit?

07/09/2011

How can an account that doesn’t earn any interest benefit the Lutheran Church of Australia?

In the 2010/11 financial year there were 1,938 non interest-bearing accounts in the LLL and they supported projects in the Lutheran Church of Australia with grants of around $1.1 million altogether.

These generous account holders have decided that they do not need interest on their LLL Savings Account. Instead, the account holder chooses a project to support within the Lutheran Church of Australia. The LLL is then able to provide a benefit to the project each June based on 5% of total non interest-bearing deposits held for the project. Account holders might have chosen perhaps to support their local Lutheran church, school or kindergarten, national agencies, the aged care facility where they make their home, or their favourite area of mission.

The grants are gratefully received.  And allow the projects to reach out in mission, repay debt, or provide many more diverse benefits.  Through the grants from non interest-bearing accounts, numerous and various projects within the Lutheran Church benefit.

If you are one of those generous people – thank you.

If you would like more information, click here or look under Personal Savings in the Savings heading.