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As some of you know, I recently resigned as CEO of LLL to return to live and work in Sydney.
It has been my great privilege to lead LLL. I will miss this wonderful organisation, its dedicated people, loyal customers, and inspiring mission, but I leave assured about the future.
We have a strong, skills-based board as befits a financial institution. Our executive and wider management team have continued to evolve and grow, with a solid risk management culture to protect investors.
Interim CEO Karen Pienaar has been an LLL board member for seven years and has the experience and knowledge to successfully lead the organisation through this next phase.
LLL is in a strong financial position, with historically high levels of both capital and liquidity, giving assurance to our investors. We are supported by our core loyal investors, even as some of you needed to reduce your investments with us as we transitioned to being a Religious Charitable Development Fund (RCDF).
With your support, LLL is committed to advancing Gospel-centred mission and ministry and empowering communities, helping congregations build places of worship, schools create education facilities that inspire young people and aged care providers to offer accommodation for the elderly.
Reflecting on the change to an RCDF, how would I encourage our supporters to think of LLL? For many, LLL previously provided transactional banking services – and we are no longer able to do that. However, this change sharpens our focus on what LLL is and what it does.
LLL is a financial institution that you can partner with to support schools, aged care and congregations across the Lutheran Church.
So, my final words to you as the CEO of this organisation with a long and rich heritage - apply the same mindset to your LLL investments that you bring to your tithing. Between you and God, prayerfully consider what will you set aside to hold as a long-term investment with LLL, to support the many different ministries of the Lutheran Church.
Thank you for your support of LLL and the support I have personally received during my time as CEO.
Yours in Christ,
Ross Smith
