INFORMATION STATEMENT* Mission Saver Plus Account

 

Prepared on 1 April 2021

1. Overview

Under the Mission Saver Plus Account, you will receive a bonus interest rate on your account provided you make an additional investment during the month and do not make any withdrawals. You are eligible for the bonus rate provided you qualify as a person entitled to invest in a Mission Saver Plus Account. Withdrawals can be made at any time without notice, however you will be ineligible for bonus interest in the month a withdrawal is made.

2. Terms and Conditions

How your investment works:

Debentures are 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 Plus 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 Plus Account?

The Mission Saver Plus 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 and general members of the public who are not Catholic Employees cannot invest in a Mission Saver Plus Account.

If you are no longer eligible for a Mission Saver Plus 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 Plus 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).

Minimum initial investment:

The minimum initial investment required to open a Mission Saver Plus Account is $100.00.

All investments must be made in Australian Dollars.

How to qualify for the bonus interest rate^:

To qualify for bonus interest, you are required to:

  • Make an additional investment of $1 or more within the month
  • Not make any withdrawals during the month

If any of the above requirements are not met, you will only receive the Mission Saver Plus base interest rate.

^ Bonus interest rate criteria subject to change

How to make an investment:

You have three options to arrange for payments into your Mission Saver Plus 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 Plus Account;
  2. 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 https://cdfcommunityfund.org.au/about-us/ or

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 Plus Account is held.

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

Requests for investments into your Mission Saver Plus 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) the 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 Plus 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 Plus 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 https://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 Plus Account, it will need to be linked to a joint ADI account in the same names or to an ADI account held in the same name as one of the names on your Mission Saver Plus Account

How to withdraw your money from your Mission Saver Plus Account?

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

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

Interest:

Interest rates are published at https://cdfcommunityfund.org.au/interest-rates/. The interest payable on your Mission Saver Plus Account is a variable interest rate and is subject to change.

The Mission Saver Plus account holders will be eligible for a bonus rate payable on top of the Mission Saver Plus base rate. The bonus rate is payable when an additional investment of at least $1 or more is made in the month and no withdrawals are made during the month.

Interest on the Mission Saver Plus Account is calculated daily at the daily percentage rate based on the balance in the Mission Saver Plus Account at the end of each day. The ‘daily percentage rate’ is the annual interest rate divided by 365. Interest is credited monthly to the Mission Saver Plus Account.

What about fees and charges?

We do not charge any fees to you for investing in a Mission Saver Plus 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 Plus Account.

Full details of our dormancy policy can be found at: https://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 Plus Account.

Change in your details:

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

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 Plus Account:

You may apply to open a Mission Saver Plus Account by completing our online application form available on our website https://cdfcommunityfund.org.au/ or by contacting us directly. Please ensure that all fields on our application form are correctly completed.

To open an account with CDF Community Fund, you are required to provide satisfactory identification (ID) information. Your ID will be confirmed with the Australian Government’s Document Verification Services (DVS) for certification purposes. We can verify you by matching your ID, name, address and date of birth with GreenID service provided by GBG Plc and data they hold.

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 Plus 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: PO 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 https://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: PO 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.