Convention Workbook

that even in these stressful economic times,
God continues to bless His church through
LCEF, and we are thankful for that.
The Pacific Southwest District operates the
largest district program within the LCEF
organization. Three years ago, total loans in
the district stood at $232 million. Total
district loans are now more than $253 million,
an increase of $21 million, which is a growth
of 9% over those three years. The district
portfolio includes 235 loans to approximately
200 of our districts churches and schools.
The investment portfolio of our district
includes more than 3,500 investor partners,
with more than $133 million entrusted to
LCEF in order to meet the needs of the
church. The district program is blessed to
be a part of the national organization.
Without the availability of the investment
pool, provided by other districts, we would
not have been able to provide the capital
needed in our district.
The Pacific Southwest District continues to
be blessed by God with strong congregations
and schools. We have seen the opening of a
new high school in Orange County,
California. The new Crean Lutheran High is a
strong and growing school with more than
500 students. LCEF played a significant role
in the acquiring of land and the construction
of this school.
SPACE AND PLACE FOR MINISTRY
All of this loan activity is an indication of the
ministry activity that is taking place in the
local congregations of our district. While the
purpose of the loans made varies from one
congregation to another, the single purpose of
LCEF remains the same: To help the church
proclaim the Gospel through facilities that
match the opportunities. The commitment of
LCEF is to provide the resources at the
lowest possible rate. At this time, our rate
remains at 2% above our cost of funds
Lutheran Church Extension Fund
(COF), which is a very narrow margin. Our
cost of funds is determined by the average
cost of the interest paid to our investors on all
investments. The cost of operating the entire
LCEF program nationally and in the districts
comes from that 2% margin. LCEF is
committed to maintaining its low operating
margin and the low cost loans that benefit our
churches and schools as a result.
There are many examples that demonstrate
how the ministry of congregations moves
forward through their partnership with LCEF.
One that comes to mind for special mention
is school ministries of the PSD. Throughout
the district, in Southern Nevada, in Arizona,
and in California, our schools are bringing the
message of Jesus Christ to our youth. Our
district has more than 200 schools in
operation, serving more than 22,000 students.
LCEF has invested significant dollars in these
schools, and continues to support them by
helping to fund the salary of our district
school consultant, among other things.
Indeed – not only space and place for ministry
– but helping with support staff as well!
TELLING THE LCEF STORY
One of the most challenging elements that we
encounter is that of reaching “the person in
the pew”, with the message of how important
the work of LCEF is in our national church
body today. We continually strive to get the
word out about who we are and what we do.
There are currently three men who assist us in
coordinating promotional activities across the
district. Mr. Gene Grefe, a member of
Gethsemane, Tempe, serves in Arizona and
Nevada. Mr. Gerry Wiley, from St. John’s,
Colton, along with Mr. Larry Dunkirk, a
member of Grace, Escondido, serve the
congregations of Southern California. Mr.
Dunkirk is our newest coordinator, having
joined our district program in the summer of
2008.
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