LLL & Banking

STUDENT BANKING

The College operates school banking through the LLL (Lutheran Laypeople's League). The LLL's school banking system is similar to those offered by commercial financial institutions. LLL school banking can encourage students to develop regular saving habits which can be maintained throughout life.

 Features of an LLL Children's Account:

  • All funds are available at-call
  • No minimum deposit or balance is required
  • Attractive interest rate is calculated on daily balances and added annually
  • No LLL fees or charges
  • The LLL pays a $5 gift into the first LLL Children's Account opened for a child

To open a Child's Account please pick up the application form from our Administration Office.

WHO IS THE LLL?

The LLL (Lutheran Laypeople's League) is a Religious Charitable Development Fund. The LLL exists to serve the Lutheran Church of Australia (LCA) in numerous ways, but especially in aspects of business and finance, and has been doing so since 1921.

The LLL operates Savings Accounts for members and supporters who wish to assist LCA organisations, including Lutheran Schools. Deposited funds enable the LLL to provide low-interest loans to approved LCA projects for building and equipping schools, churches and care facilities.

To meet the needs of this high standard of education, the physical environment of the school needs to be of good quality and a high standard. Victory Lutheran College has a long-term vision for the ongoing development of appropriate physical resources.

COLLEGE FUNDING

Apart from Federal and State sources, funding for development projects come from two main sources. Firstly, our Development/Building Fund is generously supported by contributions from Parents and Friends of the College. But the majority of funding is gained from LLL (Lutheran Laypeople's League) through the provision of Matching Deposit low-interest loans (5%).

Without past and present support from the LLL, Victory would not have been able to develop to its current standard. As a parent or supporter of Victory Lutheran College, Wodonga, you are able to help the College by depositing funds with the LLL and making it a Matching Deposit for Victory. The concept of Matching Deposits provides an ingenious way to support a particular project within the LCA and is unique to the LLL. 

EARMARKED DEPOSITS AT THE LLL

Any parents or students operating a savings account through the LLL may earmark their deposits to Victory Lutheran College. This assists our College to gain interest-free loans for projects at the College.

For more information on the LLL, visit the LLL website:

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