Election is the gracious purpose of God, according to which He regenerates, sanctifies, and glorifies sinners. It is consistent with the free agency of man, and comprehends all the means in connection with the end. It is a glorious display of God's sovereign goodness, and is infinitely wise, holy, and unchangeable. It excludes boasting and promotes humility.
All true believers endure to the end. Those whom God has accepted in Christ, and sanctified by His Spirit, will never fall away from the State of grace, but shall persevere to the end. Believers may fall into sin through neglect and temptation, whereby they grieve the Spirit, impair their graces and comforts, bring reproach on the cause of Christ, and temporal judgments on themselves, yet they shall be kept by the power of God through faith unto salvation.

A New Testament church of the Lord Jesus Christ is a local body of baptized believers who are associated by covenant in the faith and fellowship of the gospel, observing the two ordinances of Christ, committed to His teachings, exercising the gifts, rights, and privileges invested in them by His Word, and seeking to extend the gospel to the ends of the earth.

This church is an autonomous body, operating through democratic processes under the Lordship of Jesus Christ. In such a congregation members are equally responsible. Its Scriptural officers are pastors and deacons.

The New Testament speaks also of the church as the body of Christ which includes all of the redeemed of all the ages.
 
Courtesy of LifeWay Christian Resources of the Southern Baptist Convention