Catholic Development Funds (CDF’s) Join Forces
29th April 2016
A strategic partnership has been entered into today between the Bunbury CDF and the CDF partnership of the Archdiocese of Melbourne and Diocese of Sale.
The partnership will deliver improved outcomes that will enhance the mission of the Church in this region and prepare it for the challenges ahead through an expanded capital base and greater collaboration on key products and services.
Commenting on the new partnership Bishop Holohan said “Partnering with the Melbourne/Sale CDF, will benefit our CDF customers and assist the Diocese and its pastoral works to become more sustainable in the long term.
“Over the next 25 years, our growing parish and school communities will require access to capital to fund their development. The capacity of the Bunbury CDF to meet future loan demand from these communities is secured through this partnership” Bishop Gerard said.
“In addition, parishes and schools will be better off due to lower interest rates on their loans, whilst delivering significant savings that can be used for other religious, educational and charitable works” he said.
The decision to partner with the Melbourne/Sale CDF is the culmination of an 18 month process that strategically analyzed the future direction for the Bunbury CDF and evaluated options that would enable it to meet its strategic goals and objectives. The process was the overseen by the Diocesan Finance Council who, along with the Consultors approved the partnership.
“The Melbourne/Sale CDF offers a combined scale that is likely to grow and the new partnership will deliver operating synergies and other benefits necessary for sustainability, and will protect the ‘pastoral dollar’ used to fund diocesan apostolates” Bishop Gerard said.
“It will also allow Bunbury CDF customers to take advantage of technological enhancements as they become available” he said
The partnership will take effect from the 1st July 2016.
For more information please contact John Ogilvie or Ward Italiano on 08 9721 0500.
Neither CDF nor the Roman Catholic Bishop of Bunbury for the Diocese of Bunbury is prudentially supervised by the Australian Prudential Regulation Authority. Contributions to CDF do not obtain the benefit of the Depositor Protection Provision of the Banking Act 1959. The Fund is designed for investors who wish to promote the charitable purposes of the Fund.
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