As I reflect over the past 100 years of LLL operations, I give thanks and praise to God. I am in awe of what God has achieved through the trust of our supporters. As the CEO with the responsibility to continue that, I would like to especially acknowledge and honour our founder Ben Koch and all directors and staff who have faithfully served the LLL during this time.
It is self-evident that the supporters of the LLL are the lifeblood of all that we do. Without our supporters, all the missional work that the LLL performs would not be possible. Safeguarding the interests and the security of our depositors and supporters is of the utmost importance. Our partnership with depositors is important as we walk side-by-side, together in mission and I thank God most deeply for each and every supporter, both past and present.
Today we operate in a very different business environment. Since becoming an ADI (Authorised Deposit-taking Institution) in February 2019, we are operating in a very challenging financial market. However, with God’s help and in his time, we will continue meeting these challenges. I am confident the skill set of the LLL Board, management and staff will continue to meet future borrower needs as it is especially important that depositors, borrowers and the LLL continue to work in partnership to support the LCA.
The work of the LLL is to assist the mission of the Lutheran Church of Australia in two ways - by lending to church bodies and through grants from surpluses generated on capital funds.
Going forward, the LLL Board and Executive Management Team are looking at our strategic objectives. Now, as an ADI, we are looking at the best options to deploy the funds entrusted to us in order to:
• Continue to enhance measures to protect depositors’ funds;
• Fulfil the missional intent of our supporters;
• Improve our ability to operate as funding partners for our schools, aged care centres, congregations and other Church projects; and
• Grow our capacity to provide long term, sustainable support of the LCA.
We thank God for all our blessings as we look to the future. I thank my God every time I remember you. In all my prayers for all of you, I always pray with joy because of your partnership in the gospel from the first day until now. Philippians 1: 3-5
Chief Executive Officer, LLL Australia
LLL Staff 2021: (L to R): Anil Bharti, George Mathew, Heather Gillings, Andrea Owston, Daniel Katz, Terri Traeger, Lori Scardigno, Therese Cogdell, Martin Shead, Eshani Obadage, Graeme Tscharke, Scott Ross, Michael Thornton, Ross Smith, Leandre Scheepers, Mark Boettger, Heidi Schalk, Paul Klose, Kate Hampel, Andrew Waldhuter, Lyndal Fuller, Rhianan Strangways. Inset (L to R): Anne Hansen, Gaynor Gower, Gianfranco Malvaso, Michael Schulze, Karalee Georg.
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.