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Posted by LLL

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As we work through challenging times during COVID-19, we are living in a period of historically low interest rates.

Therefore, it is a blessing to see the LLL deposits continue to grow. As at 30 June 2021, total deposits grew by $9.9 million from the previous year. Your trust in LLL to be good stewards with your money is a great honour, which we at the LLL take seriously.

In the 2020-2021 financial year, the LLL approved $60m of new lending to Lutheran Church projects. At the same time, many of our schools have prudently taken advantage of the low interest rate environment to pay down their loans from the LLL. The combination of those means that total funds lent at the end of last year reduced to $260m.

The LLL generated an operating surplus of $3.5m last year, calculated after $3.1m in grants had been allocated. This $3.5m has grown our capital to $144m, and is vitally important for the security of deposited funds. Having a strong capital base is a cornerstone of prudential operation for all ADIs. It also allows us to grow, continue lending and providing support into the future, which we hope will continue for at least the next 100 years.

We are also blessed each year by the extraordinary generosity of people through legacies and donations. Those are added to the LLL’s capital and are used to generate further income and distributions to support the church and to provide the capital for future growth in our lending. A gift to the LLL provides ongoing support to the LCA in perpetuity. Last year, the LLL received $1.9m in legacies and donations, for which we are extremely grateful.

The LLL has only been able to provide this support because of the generosity and support of our community. None of this could happen without our account holders and donors, and we thank and praise God for each and every one of our supporters.

Yours in Christ,
Ross Smith
CEO, LLL Australia


Grants and allocations



African Ministry Fund  11,121   11,121
Australian Lutheran World Service (ALWS) Support  78,058   78,058
ALWS - Community education in Lutheran schools 65,000   65,000
Interest saved on loans     4,095,242
LCA & Districts (inc LCA Ministry Support Fund) 869,614 39,480 909,094
LCA Administration Support   39,500 39,500
LCA Church Worker Support 245,957   245,957
LCA GCB Special Fund  100,000   100,000
LCA International Mission Support 163,292   163,292
LCA Local Mission Support 910,234   910,234
LCA Special Ministry Fund  55,562   55,562
LCA Training & Development Support  41,886   41,886
Lutheran Media Support  16,127   16,127
Lutheran Tract Mission   174,401 174,401
Mission Outreach Grants  125,000   125,000
School Bursary Grants 150,000   150,000
Various LCA Projects (Non-interest-bearing Accounts) 264,330   264,330
Various aged care organisations  24,386   24,386
Various community care projects  22,000   22,000
Various conditional donation/legacy recipients  199,081   199,081
TOTAL 3,341,648 253,381 7,690,271

 *General Church Board

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.

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