Interest Rate Update
As was widely reported, the Reserve Bank of Australia recently again lowered the official interest rate.
The AIDF Board has approved adjustments to our rates to pass this onto all our clients. Updated interest rates for AIDF Lending and Investment rates are available here. This adjustment will apply from the 1 August 2019.
The AIDF rates remain commercially attractive compared to those offered within the broader banking sector. In addition, no account keeping or transaction fees apply to our savings and investments products.
This adjustment will have a positive impact for parishes and schools who borrow from us. Donations made to local churches from investments held in our Online Community Saver Accounts & Online Community Notice Accounts will remain at 0.50% pa.
The AIDF has continued to fund a broad range of projects throughout the Diocese. Improvements within parishes, extensions to Diocesan schools have all been made possible because of people like you who choose to invest their money with the Fund. In short, your ongoing support/investment in the AIDF is an investment in the religious, education and charitable works of our Anglican Community.
In closing, I would like to advise the AIDF’s financial performance and position has continued to strengthen over 2018. The audited financial statements for the year ended 31 December 2018 are available here.
Please do not hesitate to contact Adam or Leila at the AIDF directly should you require any further information.
Chief Executive Officer