Fund supports development throughout the diocese

The Catholic Development Fund Maitland-Newcastle (CDF) has had another successful year in supporting the schools, parishes, agencies and associates of the diocese.

In late 2016, the Australian Government regulations under which the CDF operates were changed. These changes were introduced from 1 January 2017 with a transition period to 31 December 2017. These changes will affect how some clients invest with the CDF.

In conjunction with these changes, the CDF is now in the process of acquiring an Australian Financial Services Licence (AFSL) which will allow it to continue offering services to the wider community and the opportunity for clients to continue to support the mission of the Church.

The CDF helps the diocesan schools with funding of capital projects, with a current focus around new schools and augmentation of existing schools. Some of the works completed for 2017 are the construction of new facilities at St Patrick’s Primary, Lochinvar; multi-purpose hall, trade training centre and kitchen at ASC St Joseph’s Colege, Lochinvar and upgraded facilities at St Pius X High School, Adamstown.  In addition, loan funding has been provided to enable the purchase of land for future school purposes in Gillieston Heights, Aberdeen, Waratah and The Junction.

In addition, CDF had provided funding for the purchase of land and development of Early Education Centres for St Nicholas Early Education. Current developments in progress are at Cardiff, Lochinvar and Chisholm.

The CDF continues to provide support to CatholicCare Social Services with its projects and services to the community. CatholicCare continues to expand its reach to the Upper Hunter and to the disadvantaged.

The coming year will see the CDF updating its website, enabling your being kept up to date with our products and services.


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