2020 - What a year!
There’s no doubt that 2020 will be remembered as the year that has changed our attitudes and affected the way we live together for now and potentially for many years to come.
We’ve experienced devastating bushfires in many areas of the country, to a pandemic that has gripped the entire planet.
Lutheran assets were largely spared from the devastating bushfires and insurance claims were limited to property damage such as gardens and fencing. But the bushfires left many people with nothing, alone and distraught, and many Lutheran congregations and agencies have been providing much-needed assistance in some areas.
The coronavirus pandemic (COVID-19), originating in China and quickly spreading worldwide, has affected everyone and has forced governments across the globe to react by prohibiting people from gathering in public venues (including church gatherings) and strongly encouraging people to stay and work from home if possible.
The LLL has remained open for business throughout this time, with many of our staff working remotely from home. Our goal has been to continue offering our services without disruption and to focus on providing superior customer service.
During this time, the LLL Board approved a six-month repayment holiday for LLL borrowers if required. This meant the borrower, once approved, would not be required to make any loan repayments for the March and June quarters with interest being capitalised to the loan balance. Approximately 30 percent of LLL borrowers took up this offer.
In an article LLL Funds ‘Remain Secure’ in The Lutheran (May 2020), the LLL Board Chair Graeme Huf said: “We thank all depositors for their continued support of the church…We assure you that the security of your deposit is of paramount importance to the LLL Board.”
There has been an increase in the take-up of the LLL administered direct debit platform known as REG (Regular Electronic Giving).
Despite not being able to give at church, congregation members still wanted to financially support their congregation and the wider church. In the year to June 30, 2020, an additional 583 individuals and families are now giving over $8.1m annually via REG, which represents an increase of 22 percent, or $1.5 million over the past 12 months. A large proportion of the increase occurred between March and May.
For more information visit REG
The LLL prides itself on providing savings accounts that are simple to operate, with a variable interest rate and no fees or charges. The LLL has a variety of savings accounts: personal and joint accounts; guardian accounts for children; and business accounts, including for self-managed super funds and not-for-profit organisations.
As an Authorised Deposit-taking Institution (ADI), the LLL is regulated under the Banking Act and by APRA.