INFORMATION STATEMENT*
Mission Saver Account and 31 Day Mission Saver Account
(including Student, Parishioner & Catholic Employee)

 

Prepared on 1 January 2018

1. Overview

This Information Statement is about two types of investments that the CDF Community Fund offers, namely:

  • Mission Saver Account; and
  • 31 Day Mission Saver Account.

Under the 31 Day Mission Saver Account, you must sign a Member Acknowledgement before opening the 31 Day Mission Saver Account and you must first give us at least 31 days’ notice before you can withdraw money from the 31 Day Mission Saver Account.

Under the Mission Saver Account, you do not need to give us notice to withdraw from your Mission Saver Account provided you qualify as a person entitled to invest in a Mission Saver Account.

2. Terms and Conditions

How your investment works:

The Mission Saver Account and 31 Day Mission Saver Account are debentures issued by the Roman Catholic Trusts Corporation for the Diocese of Melbourne ABN: 52 768 159 282 for the CDF Community Fund ABN 94 380 397 118. The balance held in your Mission Saver Account or 31 Day Mission Saver Account is a debt owed to you by us with a promise to return your principal sum and interest.

Who can invest in the Mission Saver Account?

The Mission Saver Account is only available to a person or entity who is a Catholic Employee (see below).

A ‘Catholic Employee’ is an employee of any Catholic Organisation.

‘Catholic Organisations’ are those organisations listed in the Catholic Directory www.catholicdirectory.com.au/ including (Catholic education, orders, public juridic persons, congregations, clergy / training clergy).

Students and Parishioners who are not Catholic Employees are only eligible for the 31 Day Mission Saver Account and cannot invest a Mission Saver Account.

If you are no longer eligible for a Mission Saver Account (for example, you are no longer employed by a Catholic Organisation), you must promptly notify us by no later than 10 working days of cessation of your eligibility.

Once we receive your notification, your Mission Saver Account will be converted to a 31 Day Mission Saver Account and you will need to give us 31 days’ notice before you can withdraw your money. You will also need to sign an Investor Acknowledgement Statement (see below).

Who can invest in a 31 Day Mission Saver Account?

Any person can invest in our 31 Day Mission Saver Account. The 31 Day Mission Saver Account is designed for investors who wish to support the charitable and religious works of the Catholic Church.

What is the minimum initial investment?

The minimum initial investment required to open a Mission Saver Account or 31 Day Mission Saver Account is $100.00.

We also have a 31 Day Mission Saver Account for students which we refer to as our “Mission Saver Student Account”. The minimum investment amount for the Mission Saver Student Account is $1.00.

All investments must be made in Australian Dollars.

How to make an investment:

You have five options to arrange for payments into your Mission Saver Account or 31 Day Mission Saver Account:

  1. a one-off payment via Electronic Funds Transfer (EFT) or direct debit from your bank account with an Authorised Deposit Taking Institution (ADI) to your Mission Saver Account or 31 Day Mission Saver Account;
  2. you can establish a regular payment arrangement (for example, weekly, fortnightly or monthly) directly with your Authorised Deposit Taking Institution (ADI) (an example of an ADI is a bank) via a periodical payment;
  3. establish a Direct Debit with us by filling out the form at www.cdfcommunityfund.org.au/aboutus;
  4. send a cheque to CDF Community Fund, Attn. Customer Service Team, P.O. Box 174, East Melbourne VIC 8002; or
  5. rolling over your funds held with a Development Fund of the Catholic Church.

If you are making your investment by direct debit, the bank account nominated must be in the same name as the name in which your Mission Saver Account or 31 Day Mission Saver Account is held.

Additional requirement for investing in 31 Day Mission Saver Account – Member Acknowledgement:

Any person investing in a 31 Day Mission Saver Account must first sign a Member Acknowledgement before we can open the 31 Day Mission Saver Account. This is located at www.cdfcommunityfund.org.au/about-us.

How long will it take for my money to be invested?

Requests for investments into your Mission Saver Account or 31 Day Mission Saver Account received by us before 11am on any working day will usually be processed on that day.

If your request is unable to be processed for any reason (for example if you have provided us with insufficient or incorrect details of your transactional banking account held with an ADI, requests will be processed as soon as reasonably practical after we receive complete or correct information.

We reserve the right to refuse your request to invest in a Mission Saver Account or 31 Day Mission Saver Account for any reason. We are not required to advise you of our reasons for any particular decision.

CDF Community Fund Online:

You can manage your Mission Saver Account or 31 Day Mission Saver Account with CDF Community Fund Online. To be setup on CDF Community Fund Online you will need to complete the Member Online Access Request located at www.cdfcommunityfund.org.au/about-us.

All electronic withdrawals must be linked to an ADI. The name of the ADI account must match the name on your account. If there is a joint Mission Saver Account or 31 Day Mission Saver Account, it will need to be linked to a joint ADI account in the same names.

How to withdraw your money from your Mission Saver Account?

You do not need to provide us with any period of notice to withdraw money from your Mission Saver Account.

You can withdraw your money online via CDF Community Fund Online.

Alternatively, you can request payment from your Mission Saver Account by cheque. Please note the cheque will be issued in the same name as the account holder(s) and will be posted to you.

How to withdraw money from your 31 Day Mission Saver Account?

You must provide at least 31 days written notice to us if you wish to withdraw any money held in your 31 Day Mission Saver Account. This means the withdrawal will be processed no earlier than the 32nd day after we receive your written redemption request.

Just like the Mission Saver Account, you can withdraw your money online via CDF Community Fund Online.

However, once set up, your 31 Day Mission Saver Account will have a 31 days restriction showing on your account. To withdraw funds online, you will need to complete the Notice of Withdrawal (NOW) process which will alert you to when your funds are available to be able to transfer to your ADI account.

To illustrate, please see the screenshot example below.

You can also request payment from your 31 Day Mission Saver Account by cheque by giving us at least 31 days’ notice. Please note the cheque will be issued in the same name as the CDF Community Fund Account Holder and will be posted to you.

Financial Hardship:

The requirement to give us at least 31 days’ notice for the 31 Day Mission Saver Account does not apply where the request is to alleviate financial hardship that you are suffering. If you are suffering financial hardship, please contact us so that we may understand your need to withdraw your investment on less than 31 days’ written notice. For more information about our hardship policy please go to: www.cdfcommunityfund.org.au/about-us

Unless you can demonstrate that you are suffering financial hardship, redemption requests are subject to at least 31 days’ written notice.

Interest:

Interest rates are published at www.cdfcommunityfund.org.au/interest-rates. The interest payable on your Mission Saver Account or 31 Day Mission Saver Account is a variable interest rate and is subject to change.

Accounts held by students up until the age of 18 years will be eligible for a bonus rate of 2.10% per annum payable on top of the Mission Saver: Student Base Rate. The bonus rate is paid when there is at least one $1 contribution in that month and no withdrawals. Interest is calculated daily and paid monthly.

Interest on the Mission Saver Account or 31 Day Mission Saver Account is calculated daily at the daily percentage rate based on the balance in the Mission Saver Account or 31 Day Mission Saver Account at the end of each day. The ‘daily percentage rate’ is the annual interest rate divided by 365. Interest is credited to the Mission Saver Account or 31 Day Mission Saver Account annually, on the last day of June.

What about fees and charges?

We do not charge any fees to you for investing in a Mission Saver Account or 31 Day Mission Saver Account, unless the account has been classified as a ‘dormant account’.

A one-off fee of $20.00 ‘Dormant Account-Keeping Fee’ and then a quarterly fee of $5.00 is charged in respect of each ‘dormant account’.

‘Dormant Account-Keeping Fees’ will be automatically debited from your Mission Saver Account or 31 Day Mission Saver Account.

Full details of our dormancy policy can be found at: www.cdfcommunityfund.org.au/about-us

Investors should be aware that fees may be charged by third parties that issue products and services that relate and facilitate your use of your Mission Saver Account or 31 Day Mission Saver Account.

Change in your details:

You must promptly notify us if you change your name or address.

Tax File Numbers:

You are not obliged to provide us with your Tax File Number (TFN) / TFN exemption or Australian Business Number (ABN). However, if you fail to do so, the Fund is required by law to withhold tax from interest where a TFN, TFN exemption or ABN has not been quoted on an investment, and where interest is payable to a non-resident.

Changes to Terms and Conditions:

We may change some of the terms and conditions of your investment with us. We will tell you of the change by publishing the change on our website and on CDF Community Fund Online no later than the day of change.

3. How to apply for a Mission Saver Account

You may apply to open a Mission Saver Account or 31 Day Mission Saver Account by completing our application form available on our website www.cdfcommunityfund.org.au or by contacting us directly. Please ensure that all fields on our application form are correctly completed. Please ensure that you sign and date our application form.

Your Application must be accompanied by ID documents and signature samples as per the ID requirements specified in the account application form. Investing with the Fund is conditional upon you providing the necessary identification information and the Fund carrying out any necessary verification check(s).

Please see Section 2 (Terms and Conditions) for detailed information on how to invest and use your account. Please note that your application cannot be processed until all of our requirements are met to our satisfaction.

4. Contact Us

We are pleased to answer any questions that you may have about our Mission Saver Account or 31 Day Mission Saver Account.

Please feel free to contact us at:
CDF Community Fund, Melbourne Office:
St Patrick’s Centre, 486 Albert Street, East Melbourne VIC 3002

Mail: P. O. Box 174, East Melbourne VIC 8002
Phone: (03) 9926 2200
Phone (toll free): 1800 134 135
Email: enquiries@cdfcf.org.au

5. Privacy Policy

Our privacy policy can be found at www.cdfcommunityfund.org.au/privacy

6. Complaints

We are committed to resolving any problem or dispute you may have with us. Please let us know if you have any problem, dispute or complaint by contacting our complaints officer as follows:

Complaints Officer
Phone: (03) 9926 2200
Phone (toll free):1800 134 135
Email: enquiries@cdfcf.org.au
Mail: P. O. Box 174, East Melbourne VIC 8002

Our complaints officer will deal with your complaint in an efficient and timely manner. Our complaints officer will provide you with information about how your complaint will be processed and the expected time frame for resolving the complaint.

If an issue has not been resolved to your satisfaction, you can lodge a complaint with the Australian Financial Complaints Authority, or AFCA. AFCA provides fair and independent financial services complaint resolution that is free to consumers.

Website: www.afca.org.au
Email: info@afca.org.au
Telephone: 1800 931 678 (free call)
In writing to: Australian Financial Complaints Authority GPO Box 3, Melbourne VIC 3001

7. Important information

Disclosure :

CDPF Limited, a company established by the Australian Catholic Bishops Conference, has indemnified the CDF Community Fund ABN 94 380 397 118 (the Fund) against any liability arising out of a claim by investors in the Fund. In practice, this means your investment is backed by the assets of Catholic Archdiocese of Melbourne.

The Fund is required by law to make the following disclosure:

Investment in the Fund is only intended to attract investors whose primary purpose for making their investment is to support the charitable purposes of the Fund. Investor’s funds will be used to generate a return to the Fund that will be applied to further the charitable works of the Catholic Church. The Fund is not prudentially supervised by the Australian Prudential Regulation Authority nor has it been examined or approved by the Australian Securities and Investments Commission (ASIC). An investor in the Fund will not receive the benefit of the financial claims scheme or the depositor protection provisions in the Banking Act 1959 (Cth). The investments that the Fund offers are not subject to the usual protections for investors under the Corporations Act (Cth) or regulation by ASIC. Investors may be unable to get some or all of their money back when the investor expects or at all and investments in the Fund are not comparable to investments with banks, finance companies or fund managers. The Fund’s identification statement may be viewed at www.cdfcommunityfund.org.au/about-us or by contacting the Fund. The Fund does not hold an Australian Financial Services Licence. The Fund has entered into an intermediary authorisation with CDFCF AFSL Limited ABN 49 622 976 747, AFSL No. 504202 to issue and deal in debentures.

Terms and conditions for your investment are contained in this Information Statement.

Updates to this Information Statement:

We reserve the right to change this Information Statement. We will notify you of these changes by publishing the change on our website.

 

* This is not an ‘offer information statement’ as defined in section 715 of the Corporations Act.