What we do at the AIDF, is receive funds from investors and make loans to parishes and other diocesan agencies (e.g. schools) for building or other capital works projects. The AIDF also makes housing, car and personal loans to clergy and other persons employed by the diocese.
One of the great pleasures of life is having the freedom or capacity (small or great) to make a gift, or to invest in a cause, through which you know you can make a difference.
The Anglican Investment & Development Fund provides such an opportunity:
to invest in an ethical alternative
to support the mission of the Diocese of Canberra and Goulburn
to benefit the community through enhancing diversity and education options
The Anglican Investment & Development Fund, Diocese of Canberra and Goulburn (AIDF) was established in 1967 by a small group of dedicated finance professional lay parishioners, along with the support of Bishop Warren and a $1,000 loan. The purpose was to subsidise loans and to make grants to parishes and diocesan agencies out of the profits. For many years it operated out of the AMP offices in Canberra although, given the strong support by lay members (investors), it quickly established agencies in a number of towns throughout the Diocese. By 1974 it had repaid the initial loan, made grants of over $4,000 and produced an annual profit of $11,500. The Fund has operated profitably every year since inception. Profits are retained and used to build reserves and make grants. The AIDF has voluntarily adopted capital adequacy guidelines as the appropriate standard for maintaining and increasing reserves each year. Reserves are invested in order to further support investors’ funds. Today the fund has grown to have around $100m in total assets and an annual profit in the order of $1m.
The AIDF is established under the AIDF Ordinance which includes a diocesan guarantee of the fund and outlines its purposes. The AIDF provides loans to parishes and other diocesan agencies, including schools, for building or other capital works projects and also makes housing, car and personal loans to clergy and other persons employed by the Diocese.
The AIDFs core purposes of being a strong and significant supporter of local parishes, including their community activities and buildings, aligns with the Investors’ desires of not only receiving competitive and accessible accounts but also of supporting their own community. The AIDF investors are a fundamental reason for the success of the AIDF over its long history.
The AIDF provides fee-free accounts, including access (everyday accounts) and term investments paying consistently highly competitive interest rates. Our online “community saver account” provides a strong return to the investor and the AIDF will donate a percentage to your parish or favourite Diocesan entity.
The AIDF offers secure online transaction functionality including BPay, MYOB, Banklink (accounting), Cemtex (business salary files) and third party payment functionality. The system provider is DataAction, who has many clients in the Credit Union sector. The AIDF also participates in the Bulk Electronic Clearing System (BECs), through Indue, with the AIDF BSB being 702 389 (online use).
Your investment in the Fund will be used to support the charitable purpose of the Fund by allowing it to:
make loans to the Diocese, Diocesan agencies, schools and Ministry units for building and other purposes that support the mission of the Diocese,
make grants to the Diocese out of any surpluses from its operations for use by Bishop-in-Council to further the mission of the Diocese,
make donations out of any surpluses from our operations to Parishes or other Diocesan agencies.
The Fund is required by law to notify investors that:
investments in the Fund are not subject to the usual protections for investors under the Corporations Act or to regulation by the Australian Securities & Investments Commission (ASIC),
the investment is only intended to attract investors whose primary purpose for making their investment is to support the charitable purpose of the Fund,
investors may be unable to get some or all of their money back when the investor expects or at all,
investments in the Fund are not comparable to investments with banks, finance companies or fund managers.
The Fund does not hold an Australian Financial Services Licence.
The Fund has lodged an Identification Statement with ASIC as required by ASIC Corporations (Charitable Investment Fundraising) Instrument 2016/813. The statement is available here.
The Fund is not prudentially supervised by the Australian Prudential Regulation Authority. Therefore, 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.
Investments with AIDF are backed by AIDFs substantial reserves and the AIDF is guaranteed by the Diocese of Canberra and Goulburn.
A convenient way of giving...
The AIDF has developed Anglican Direct to assist Parishes with their Planned Giving or Stewardship programs.
Anglican Direct enables people to financially support their Parish by authorising a regular direct debit to their bank or credit union account or alternatively through a payroll deduction.