With no shareholders to satisfy, the surplus generated by the CDF (Catholic Development Fund) is available to benefit our school community, improving educational outcomes and overall health and wellbeing.
For example, the Catholic Youth Team brings students together via sports days and retreats; Catholic Social Services supplies free counselling and courses aimed at strengthening family life; while the Sacramental Music Program teaches songs to touch the hearts of our children. Also, schools can apply to borrow for roll growth property development projects.
Before the Global Financial Crisis of 2008, school BOTs (Board of Trustees) were able to invest in the CDF. However, at the time, a government review of financial institutions meant the CDF was no longer able to hold these funds. With the CDF now a registered financial service provider and compliant with the Anti Money Laundering and Countering Financing of Terrorism Act we have worked with the Ministries of Finance and Education to get approval for schools to acquire debt securities issued by the CDF.
This is positive news for school trustees looking for a socially responsible investment that aligns with Catholic values.
Simon Thompson, General Manager,
Catholic Diocese of Christchurch
Once again, CDF Board and Staff are excited to welcome the 35 schools within the Catholic Diocese of Christchurch to become members of the CDF. Simon Thompson, General Manager of the Catholic Diocese of Christchurch, supports the move to allow school Boards as CDF investors, saying “we believe that the decision to invest with the CDF further enables schools to partner with the Diocese, reflecting a desire to help other schools, and support the good of our local Catholic community.”
The CDF is delighted to have the opportunity to be able to provide even more support to the Catholic education community of the Christchurch Diocese and help facilitate its growth and development into the future.
School Board of Trustees, Board of Proprietors, Foundations and PTAs interested in finding out more about investing with the CDF are welcome to contact Liza Sparrow, CDF Marketing and Business Development Manager. Telephone: 03 366 9869; Email: lsparrow@cdoc.nz.