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.
Distribution to the Diocese and Parishes
Each year, ADIG provides the Diocese and each Parish with a cash distribution to enable funding of the ongoing expenses of various Diocesan and Parish activities.
At a Diocesan level the distribution contributes towards:
- Catechetical work in state school
- Aboriginal Apostolate
- Tribunal Office
- Vocations Director
- Safeguarding Office
- Clergy and seminarian education
- Diocesan administration expenses
- World Youth Day attendance
- Diocesan insurances
At a Parish level:
An annual cash distribution is made to each Parish. Whilst each Parish may use the funds in any manner that best serves the parish, many parishes value the assistance the distribution provides, when faced with growing insurance and building maintenance costs.
Distribution to Priests Retirement Foundation
A financial commitment is made to the Priests Retirement Foundation annually. The Foundation provides support for retired and ill priests of the Diocese of Armidale.
The cash distribution is a practical and effective way in which ADIG supports the charitable, religious, and educational and welfare works of the Diocese and Parishes.
ADIG provides loan finance for the Diocese, parishes, schools and Catholic Agencies within the Diocese. Loans are made for building, renovation and capital equipment. Loans are made at lower than comparable rates for similar loan purposes with no associated fees or charges. This benefits the borrower with reduced interest payments. As a result, every parish in the Armidale Diocese has borrowed from the Group. In addition, Priests have the opportunity to qualify for loans for motor vehicles and computers.