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Posted by LLL

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The missional partnership between LLL Australia, its depositors, borrowers and supporters is an incredible demonstration of God's power, working through His people, united in faith, with a common purpose: to transform money into a force for the work of God.

In our centenary year we reviewed our Strategic Intent to ensure the longevity of support for the Lutheran Church of Australia (LCA), while honouring our past with a vision for the future.

Strategic priorities

As a regulated Authorised Deposit Institution (ADI), we aim to make only a reasonable surplus to meet our operational and regulatory needs. For the coming financial year, our Strategic Objectives aim to:

  • Build capability and capacity to operate a sustainable organisation
  • Be ready for loan and deposit growth
  • Maintain relationships that underpin our long-term support

Your deposits – missional outcomes

As at 30 June 2022, total deposits were $1.26 billion, held in more than 38,000 accounts. These funds have been deposited by individuals and LCA bodies who share LLL's missional intent.

LLL creates a lasting missional impact on the Lutheran Church. We partner with Lutheran entities to meet their capital needs and support their strategic objectives, enabling them to grow and build facilities for current and future generations under God's Word.

Lending those funds at lower rates, borrowers benefit from our generous depositors.

LLL advanced $39.1 million of new lending to Lutheran Church projects in 2021/22, with $247m in total funds lent to schools, congregations and aged care facilities as at 30 June 2022. A further $80.7m was approved to be advanced when needed.

LLL was able to provide $2.1m in missional financial grants in 2021/22.

Your deposits – LLL stewardship

Regulated by the Australian Prudential Regulation Authority (APRA) and the Banking Act, we comply with the same prudential standards as all Australian ADIs. Some income generated from investments is used to invest in improvements in our risk management frameworks and in growing reserves to safeguard depositors' funds.

LLL generated an operating surplus after distributions of $3.9m in 2021/22, of which $654,000 was from legacies and donations, enabling LLL to grow its reserves to $147.5m.

Your deposits – new product

LLL's capacity to provide loans at favourable rates rests on the missional hearts of our depositors. To give depositors options for how they retain their funds with LLL, we introduced a six-month term deposit product with no fees or charges.

For further details regarding LLL's operations for the last financial year, please read the LLL Annual Report on the LLL website.

Yours in Christ, 
Ross Smith
CEO, LLL Australia

Benefits and services for the year ended 30 June 2022

LLL recorded a surplus from operations amounting to $3,257,278 ($3,910,812 including legacies and donations). The calculation of surplus is after recording as expenses the various grants and distributions paid/to be paid to the LCA. Grants and distributions made to the LCA during the last 12 months:

LLL Recipients

Image: Jacob, Litina and Josh are happy in Hawaii at Aloha at the Ark. Salisbury Lutheran Church, SA, were the recipient of an LLL 100 Year Anniversary Grant. See the article for the full story.

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