Did you know Fidelity Bond Coverage is provided to ELCA congregations by the Lower Susquehanna Synod.

The current coverage is $25,000 per congregation. That coverage is subject to a $2,500 deductible and applies to designated personnel (employees, or any person duly elected or appointed by the congregation council) who handle or have access to covered assets. Covered assets are defined as currency, checking and savings accounts, Certificates of Deposits, marketable securities, and other negotiable items.

Congregations may also consider obtaining additional coverage. The amount of needed coverage should be addressed on an annual basis. The synod's insurance agent, James O. Bower Insurance Agency, 763-5668, or the insurance agent who carries your congregation's insurance will be able to provide advice and quotations.
 

Condition of Coverage

As a condition of full coverage, an annual financial audit must be performed and a "Certification of Financial Compliance Review of Congregation Records" (see attached) must be completed and kept on file at the church. If an audit has not been properly completed within 13 months prior to the date of loss, the bond limit is reduced from $25,000 to $5,000.

A copy of the "Congregational Audit Guide" of the Evangelical Lutheran Church in America may be found at the Synod's website www.lss-elca.org under Resources for Congregational Treasurers via the pull down tab labeled "Finances."

Questions or comments regarding Fidelity Bond coverage may be addressed to Bruce Seagrist at BSeagrist@lss-elca.org or by phone at 717.652.1852.