The resounding success of WYD 2008 must gladden the hearts of Catholic educators and those that support the promotion of Catholic ethos in our schools.

CDF has been supporting Catholic education since 1956 and during this time there has been tremendous growth in the lending to Parish Schools and Colleges for capital projects.

Since the Fund was established, CDF has lent in excess of 1.2 billion dollars to Catholic organisations at the most advantageous rates of interest.

It is pleasing to note that the Fund was able to keep its lending rates relatively low during the year as other Financial

Institutions passed on their increasing funding costs through higher variable and fixed lending rates. Additionally, over this period the Fund actually increased the interest rates on its deposits.

2007/2008 was a record breaking year in which CDF made 163 loans totalling $145.4 million to Catholic organisations. The average deposit level increased by 9.6% and peaked at $797 million in February.

While lending for education remains strong, the last twelve months has seen increasing borrowing requirements from Catholic Health and Aged Care. In fact, during the last financial year CDF approved $79.8 million of loans for this sector.

Lending on this scale is only possible with the loyal investment support of Catholics and Catholic organisations. With the projected growth in borrowing for Catholic Health and Aged Care services, combined with ongoing demand from Parish Schools and Colleges, the Fund will need even greater investor support during 2009.

CDF will continue to meet these future demands for capital funding within the Archdiocese while continuing its assistance to the mission of the Church.