by Ross Smith
As I reflect on the past 100 years of LLL operations, I thank and praise 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 acknowledge and honour our founder Ben Koch and all directors and staff who have faithfully served the LLL during this time.
The supporters of the LLL are the lifeblood of all that we do. Without them, all our missional work 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 supporter, past and present.
Today we operate in a very different business environment. Since becoming an ADI (Authorised Deposit-taking Institution) in February 2019, we have been 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 LLL continue to work in partnership to support the LCANZ.
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 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
- Grow our capacity to provide long-term sustainable support of the LCA
We thank God for 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).
Ross Smith is Chief Executive Officer, LLL Australia
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