2 Nephi 30
There are two interpretations of being a covenant people, an expansive one that includes any direct descendants of a people with whom the Lord has made covenants, and a precision one which includes those who have made and continue to keep covenants with the Lord. The precision interpretation is individual and only those individuals who have placed themselves in that group can expect to receive all the promised blessings of the Lord. The expansive interpretation is general and points out those to whom the Lord is especially seeking to bring His gospel and to fulfill His covenants. That is why the Jews will always be classed as a covenant people even when most of them do not seek the Lord.