The Armidale Diocesan Investment Group has been commissioned by the Bishop to assist him in advancing the pastoral work of the Catholic Church in the Diocese of Armidale. This is done in the following ways:
- ADIG provides all the loan finance required by the Diocese, parishes, schools and other organisations within the Diocese.
- Loans are made at lower than comparable rates for similar loan purposes. This offers the borrower reduced interest repayments.
- There are no fees or charges associated with the loans.
- Loans are made for new buildings and renovations to churches, presbyteries, and schools; St Vincent de Paul Centres; motor vehicles for parishes and schools; plant and equipment such as computers or office equipment.
- Every parish in the Armidale Diocese has borrowed from the Group..
- Priests receive interest free loans for motor vehicles and personal computers.
Distribution to Bishop & Diocese:
Each year, the ADIG provides the Bishop with a cash distribution to enable him to fund the ongoing expenses of various Diocesan activities. In 2015, through the loyalty and custom of our parishoners, the distribution reached $850,000. This means that levies on parishes have been able to be kept to a minimum. In addition to this, $30,000 was given to the Priests Retirement Foundation.
Among the expenses and apostolates directly supported by the distribution are:
- the catechetical work (religious education) in state schools
- the Aboriginal Apostolate in the parishes
- the Matrimonial Tribunal
- the cost of some insurances for Parishes and the Diocese
- clergy education
- Diocesan administration expenses
- WHS office
- World Youth Day
Distribution to Parishes:
Each year the ADIG also provides a cash distribution to each parish. This year $520,000 has been shared amongst the parishes in our Diocese. This generally assists parishes with growing insurance costs and maintenance of buildings; each parish is free to use the funds in the best way for that parish.
Services to account holders:
- No fees or charges on any savings or investment accounts – this includes government charges (when applicable), account keeping fees and transaction charges.
- Comparable interest rates – Contact Us for details
- A range of accounts
- Personal, friendly and confidential service.
For further information see details on our investment accounts and Fixed Interest accounts.