Annual Report 2008

Despite the general economic climate the CDF managed to increase both deposit levels and loans made.   The loan growth is particularly satisfying as the CDF places great importance on making funds available to parishes, schools and church agencies in order to “build the Church”. 

              The emphasis on lending to Church bodies meant that the CDF was not impacted by the economic crisis in the same way as other financial institutions may have been.  That is, the CDF’s conservative policy of investing primarily in loans to Church agencies has meant no loss in depositor funds.  Certainly, during this period the interest rate that the CDF could pay declined in line with the RBAs reductions in the ‘cash rate’.

                During 2008 the CDF Board took the decision to review the overall strategy of the CDF and is now in the process of formalizing an updated strategic direction.  In particular the board is keen to raise the profile of the CDF within the Catholic community in order to attract additional deposits.  As part of the review the CDF proposes to upgrade the website in recognition that the population makes increasing use of online facilities.             

                 2008 also saw the introduction of the COPs facility, or, the electronic debiting of credit cards on the part of schools.  Early trials proved successful and the facility has now been implemented across the archdiocesan school system.  Within the CDF computer hardware and software was updated and during the course of 2009 the CDF will move to a windows based platform for its banking software.                 Thanks and appreciation is extended to the people who make the CDF such a happy and effective operation, Ann, Michelle, Jen, Jenny, Karin and Perry.  The CDF Board (Mons John Woods, Mrs Karen Hogan, Mr Tony Rose, Mr Julian Widdup, Mr Dominic Kelly, Mr Ross Power, Mr Gavin Howard and Fr Lachlan Coll) are to be acknowledged too for the invaluable contribution that they make to the successful functioning of the CDF.

              Special mention is made of Bishop Pat Power (ACT Citizen of the Year) who was the chair of the CDF Board for more than twenty years.  Bishop Pat joined the board in 1987 – a  commitment that was not broken until he took a well earned break at the beginning of 2008.  Thanks Bishop Pat.

Mr Victor Dunn

Manager

CDF Canberra & Goulburn

The CDF Team

Jen Wheeler, Ann Tunnecliffe, Jenny Mander,

Michelle Murdock, Victor Dunn, Karin Hollings

CDF Online Accounts

Individual depositors (businesses) are invited to open a

CDF Online Account.