Catholic Development Fund
The CDF exists to provide treasury services and financial support to assist the Diocese in the fulfilment of its mission.
What is the Catholic Development Fund?
The Catholic Development Fund (or CDF) is the treasury for the Diocese of Broken Bay and its agencies, including 44 primary and secondary schools, 26 parishes, Catholic Care Broken Bay and the central administration areas for the Diocesan Curia including the Catholic Schools Office. The CDF takes a prudential approach to carefully managing the funds with which it is entrusted for the purpose of funding capital works and delivering some surplus to offset recurrent expenditure on religious, charitable and educational services which the Church provides to the community.The CDF is a charitable institution under the Australian Taxation Office’s definition.
The CDF's beginnings
In 1997 Bishop David Walker set up the CDF replicating what had been done in other Catholic dioceses in Australia and New Zealand. This idea involved the pooling of deposits of all agencies in the Diocese paying each agency interest on their deposits. These funds are then on-lent to diocesan agencies and other Catholic entities for development works at affordable interest rates. In the past funds havee been lent for example, to build new parishes and schools in growth areas, refurbish churches and other parish facilities and for other diocesan requirements.
Since inception the CDF has provided loans in excess of $150 million for school building projects and over $7M for parish facilities. For example, a new parish and kindergarten to Year 12 school was established in the growth area of the NSW Central Coast at Warnervale. This multi million dolllar facility has allowed the Diocese to provide for much sought after Catholic education in the growing Central Coast region to take the pressure off the Catholic schools at East Gosford and Tuggerah.
Savings and Investment Products for Schools, Parishes and Other Agencies
The Catholic Development Fund (CDF) offers Diocesan parishes, schools, clergy and agencies a number of very good products to assist in the management of funds.
Click on the Interest Rates tab on the left of the page to access product descriptions and the current interest rates. Please note that interest rates change from time-to-time and the CDF at its absolute discretion can determine the interest rates for these and other products.
Loans for Schools, Parishes and Other Catholic Agencies
Looking for finance for new computers, photocopier or building refurbishment? Whatever your needs, why not talk to us about a low cost loan on terms to suit you. Conditions apply.
Investment Product for Lay Catholics (parishioners)
Parishioners can invest with the CDF in term investments as a way of helping provide loan funds for Catholic parishes and Catholic schools. The interest rates are displayed on the Interest Rates page (see left) or by calling the CDF on 9847 0748.
Interest rates on offer for this investment product are lower than the interest rates on offer to our diocesan agencies. The product is designed for investors whose primary motivation is to promote the charitable, religious and Catholic educational purposes and works of the Diocese of Broken Bay and for whom profit considerations are not of primary importance in their decision to invest. Please refer to our disclosure statement below.
Address correspondence to:
Catholic Development Fund
For personal visits please phone beforehand
Caroline Chisholm Centre
Phone: (02) 9847 0748
The Catholic Development Fund Diocese of Broken Bay (CDF) is designed for investors whose primary motivation is to promote the charitable, religious and educational purposes and works of the Trustees of the Roman Catholic Church for the Diocese of Broken Bay (Diocese).
Investments and the interest payable on those investments are guaranteed by CDPF Limited, a company established by the Australian Catholic Bishops Conference for this purpose and are underwritten by the Diocese which has indemnified the CDF and CDPF Limited against any liability arising out of a claim by investors in the CDF.
Investments with the CDF do not obtain the benefit of the depositor protection provisions of the Banking Act 1959.
The CDF and the Diocese are not subject to the provisions of the Corporations Act 2001 nor are they examined, approved or supervised by the Australian Securities and Investments Commission or by the Australian Prudential Regulation Authority.