Many 'firsts' in our 65 years as funds flow for God's Kingdom

“We thank God we learned of the foundation (CIF) whereby we could get financial aid and (we) trusted the Lord to enable us to pay it back.”
pastor william cose
Evangelical Free church of Salt lake city (1960)

As a ministry, it can be helpful to take time to reflect on how we came to be. Many may not know that CIF began as a part-time ministry, working in homes decades before home offices were normal.

Deeply intertwined with Free churches

The Evangelical Free Church of America (EFCA) was a joining of the Norwegian-Danish and Swedish Free Churches, which became one in 1950. As the decade wore on, more congregations needed financing to purchase, remodel or build facilities. Meetings were held starting in 1957 in preparation for the launch of what was then Christian Investors Foundation.

CIF's first secretary-treasurer, Paul Carlson, left, at a groundbreaking event for the Evangelical Free Church of America in the 1960s.

Two years later, in 1959, CIF was unveiled as an EFCA affiliate at the 75^th Annual Conference in Denver. That same year, Christian Home of Holdrege, Nebraska invested $10,000 in CIF, making history as our first investor.

The Evangelical Free Church of Salt Lake City received our first church building loan, for $25,000. Pastor William Cose said the structure was part of a new vision for the Lord’s work there. “We thank God we learned of the foundation (CIF) whereby we could get financial aid and (we) trusted the Lord to enable us to pay it back.”

Home Missions support aids Kingdom expansion

CIF would soon be recognized as a “very important factor” with EFCA Home Missions for the aid we provided to the “constantly growing ministry of the Free Church in the home field,” said our first secretary and treasurer, Paul Carlson, in 1963. From the very start, we were focused on Kingdom expansion.

We gave God the glory for our early work, as seven church building photos, all projects we financed, adorned a decorated October 1963 article in The Evangelical Beacon magazine. Those new structures were just a sampling of our nationwide emphasis.

Church building photos came in from Satellite Beach, Florida to Waseca, Minnesota, on up to Bismarck, North Dakota, over to Littleton, Colorado, west to Salt Lake City, Utah and Portland, Oregon and on down to Del Rey Hills, California.

There were 39 CIF loans that year, in amounts ranging from about $5,500 to just under $67,000. The grand total for loans in 1963 was just shy of $972,000.

Growth patterns reflected in financial results

That year was a milestone for us as we reached $1 million in investment certificate balances- about 10.2 million in today’s dollars when adjusted using the Consumer Price Index (CPI).

In 1969 and 1970, our investment and loan balances would double, to $2 million, respectively. But CIF was on the cusp of a major upward trend.

During the next 19 years, investments and loans would grow tenfold to $20 million, only to double again by 1990 and 1991, to $40 million. In 1992, CIF hired its first full-time manager, President Harland Anderson. Our staff would grow to five.

Doubling again in a decade

Investments reached $80 million in 2001, with $80 million in loan balances by 2004.

Then, in 2014, we started our Like-Minded Lending Program, opening our church and ministry loans to new friends outside of the EFCA. By 2021, our church loan balances totaled $160 million and our net assets approached $48 million.

The next fall, In 2022, we moved just down the freeway from the EFCA headquarters building to a newly rented space in Mendota Heights, Minn. Our staff, including me, would soon expand to 15.

As we celebrate 65 years of ministry, we thank the Lord for His faithfulness and the countless relationships we’ve made along the way. The mission and ministry of CIF continue, because churches continue to spread the gospel and serve their communities.

So, let’s make our own history moments today, for God’s glory and the expansion of His Kingdom on earth and for eternity. It is a blessing to serve.