In the first quarter of 2006 the Catholic Development Fund achieved a significant milestone, when approved loans since the Fund was established in 1956, topped the billion dollar mark. Thousands of loans over 50 years make up this total. Each application for funds, whether modest or substantial is carefully assessed as if it is the only application. CDF is committed to prudent stewardship of your investment which enables the Fund to meet the borrowing needs of our Catholic community at the most advantageous rates of interest.

We are proud to assist in building our Catholic community and recognise that lending on this scale would never be possible without the loyal investment support of Catholic organisations and individuals.

It is a pleasure to share with you in this issue of Update a pictorial record of 50 years of lending which started in West Heidelberg in 1956. St Pius X School was opened in 1954 with 173 students, the first school in Australia to be conducted by the Missionary Sisters of the Sacred Heart. By 1956 school numbers had grown to 550 and exploded to 950 by 1957, making the need for additional classrooms critical. The Fund met the challenge then and has consistently met challenges since.
We confidently look forward to the next 50 years of service to the Archdiocese of Melbourne in support of Faith, Education, Health and Aged Care capital projects.