Catholic Development Fund
The CDF was established on 1 January 1987 as an amalgamation of the separate Provident Funds of Canberra and Goulburn. The CDF is an agency of the Catholic Church in the Archdiocese of Canberra & Goulburn and operates under the authority of the Trustees of the Archdiocese.
The Catholic Development Fund provides the Treasury function for the Church in the Archdiocese of Canberra and Goulburn.
Parishes, Schools & Institutional Clients: A complete range of financial services is provided to Church Agencies including online business transaction accounts, loans, credit cards, direct debit and merchant facilities.
Priests: Special financial services are available for Priests including loans.
Individuals: Online accounts are available to individuals offering a competitive interest rate and the convenience of 24 hour access.
The Board is responsible to the Trustees for oversight of the CDF exercising its duties in accordance with specific policy statements relating to strategic planning, financial management, resource provisions, administration and personnel.
The Board is composed of a chairman and a minimum of five other members all of whom are appointed by the Archbishop. Meetings of the Board are held bi-monthly with extraordinary meetings as required. An Investment sub-committee and Policy & Audit sub-committee meet at least three times per year.
The CDF primary investment strategy is to lend funds to ˜build the Church”. To this end funds are lent to Archdiocesan parishes, schools and agencies for the refurbishment and building of new facilities. In addition, the CDF lends to Catholic entities that operate in the Health and Aged Care sectors.
Funds not immediately required for development projects are invested in Bank Bills through the Catholic Church Investment Service (CCIS). From time to time the Board may authorise longer term investments in term deposits or managed portfolios of composite government bonds or bank bills.