There is a sense of anticipation at the CDF these days as the Fund prepares to mark 50 years of service to the Catholic community. Celebrations are planned to take place throughout 2006. Without spoiling the surprises there will be a commemorative logo, new look promotional material and posters as well as events.

It is an appropriate time to ponder our long history and consider the many sign posts and significant moments in the CDF experience. 2005 stands tall as the first time deposit levels climbed over the half billion dollar mark, peaking at $624 million in February. A great achievement!

We recall the colourful foundation years: the critical need for schools in the 1950’s and the tenacious spirit of Father Jim Wall, first Secretary of the Fund, who rallied parishioner and parish investment support. The word went out, investors dug deep and deposits poured in. An elderly gentleman donated his violin to the cause! Father Wall used to chuckle about that. By the end of 1956 two million dollars had been invested.

Father Wall’s vision for the Fund extended beyond the original needs of the schools and now includes lending to parishes, religious orders, hospitals and retirement facilities. There was never any doubt that in time CDF could carry the full burden of providing low cost finance to build our Catholic community as it does today.

The urban sprawl over five decades was remarkable. Since 1956 more than 90 new parishes were established; 132 primary schools and 32 colleges were opened. Parishioner and church institution investment support for CDF also grew.

Over the counter deposits and withdrawals have largely been replaced by more cost effective electronic transactions. CDF phone banking and internet banking are widely used. Every month thousands of people access www.melbcdf.com.au.

CDF loans support hundreds of diverse capital projects across the Archdiocese each year. Here at the Fund we like to focus on the people, our Catholic family, who benefit from new and improved facilities. You are welcome to visit the CDF project picture gallery in this issue of Update.

So how does CDF today stack up against the humble organisation which began in 1956? Dramatically different; essentially the same. Changing, growing, adapting, but ever true to its mission.

We give thanks for your support and celebrate our partnership and achievements. Together we look to the future with renewed faith, vision and energy.