Overview & History

ADIG began operations in 1974 in response to a growing need from parishes and schools in the Armidale Diocese for finance on more suitable terms than could be obtained commercially.  ADIG commenced borrowing funds from the community in order to provide these loan funds.

ADIG is one of several agencies in the Diocese which exist to support the religious activities of the Catholic Church in the Armidale Diocese. Examples of other agencies in the diocese are Centacare, Catholic Schools Office and the Matrimonial Tribunal.

As well as providing loans to schools and parishes, ADIG also provides other assistance to the Armidale Diocese, which is detailed in our Apostolate.

The Group still borrows money from the community in the form of a range of accounts. Today ADIG holds funds from over 6000 depositors. These include school children, families, small and large investors, clubs and associations, as well as school and parish accounts. ADIG now holds over $180 million in deposits.

growth_graph

ADIG Deposits Growth 1980 – 2012

As well as in Armidale and Tamworth (where there are offices), ADIG has depositors all over the New England/North West, interstate and even overseas. They all have at least one thing in common – they enjoy fee-free savings and investment accounts that pay competitive rates of interest, and they know that by simply having these accounts with ADIG they are helping schools, parishes and the community in the Armidale Diocese.

DISCLOSURE STATEMENT

The Armidale Diocesan Investment Group (ADIG) is not prudentially supervised by the Australian Prudential Regulation Authority nor has it been examined or approved by the Australian Securities and Investments Commission. Therefore, an investor in ADIG will not receive the benefit of the financial claims scheme or the depositor protection provisions in the Banking Act 1959 (Cth). Investments in ADIG are intended to be a means for investors to support the charitable, religious and educational works of the Catholic Diocese of Armidale and for whom the consideration of profit are not of primary relevance in the investment decision. Furthermore, investors should be aware that neither ADIG nor the Trustees of the Roman Catholic Church for the Diocese of Armidale is subject to the normal requirements to have a disclosure statement or Product Disclosure Statement or be registered under the Corporations Act 2001 (Cth). CDPF Limited, a company established by the Australian Catholic Bishops Conference, has indemnified the Fund against any liability arising out of a claim by investors in the Fund.