There are a range of products available to permanent employees of the Diocese, schools, diocesan agencies and parishes.
Salary Deductions
The CDF offers the benefit of payroll deduction from your salary for all diocesan employees. This allows a pre-arranged amount to be deducted from your salary each pay period and forwarded to the CDF. This deduction will be noted on your pay slip and recorded on your CDF statement. This feature is available to all employee saving and loan accounts except term deposits. Download the Authority for Salary Deduction form 
to apply.
CARE: Please note that each subsequent Salary Deduction Authority supersedes the last, so be sure to update all your deductions, not just the variation. To cancel all your deductions, complete a new authority and mark ‘Nil’ in the deduction total.
Incentive Plus
Tired of paying high account keeping fees with little interest in return?
Here's the way to get a better deal. Incentive Plus not only offers a great interest rate to you, it has the added bonus of allowing you to nominate your parish, Catholic school or Church organisation to receive a benefit as well.
That's right, on every dollar of interest we pay you on Incentive Plus, the CDF will also pay a bonus to your nominated parish, school or organisation.
In this way your money assists with the fund raising efforts of your own Catholic Community. You can support your children or grandchildren's school or your parish needs - without costing you a cent. Church organisations or religious orders within our Diocese can also receive additional income to help with their needs.
Easy Access?
Yes!
You can access your Incentive Plus account in several ways
- Deposits and withdrawals can be made by direct credit and direct debit, for this service please contact us
- Deposits can be made at any Commonwealth Bank with a deposit book we provide you
- Cheque deposits and withdrawals can be made at the CDF office or by post
- You can set up CDF Online which offers registered clients a convenient internet enquiry system with 24 hour access to many features
What does Incentive Plus offer?
- A good return of 2.75% pa interest on balances over $2,000 (Balances under $2,000 1.00% pa)
- Interest credited quarterly into your account
- Your savings remain at call and there are no bank fees or charges
- Your parish or school benefits from your investment
- Currently the incentive to your nominee is 0.25% pa each quarter
- If you decide not to nominate a beneficiary, the incentive will directly benefit the Diocese –supporting broader diocesan needs
- All deposits and interest are guaranteed by the Diocese of Wollongong
Term Deposits
Term Deposits offer you a high competitive interest rate for locking your funds over a pre-determined time.
 Minimum deposit |
$1,000 |
| Interest paid on maturity |
|
| 3 to 5 months |
3.75%pa |
| 6 to 11 months |
3.25%pa |
| 12 months |
3.25%pa |
| Amounts over $100,000 by negotiation, call the CDF on 1800 047 703 |
|
Other terms can be negotiated, contact us for details.
Download the latest Interest rates for Employees for CDF products.
Money for Christmas savings account
Authority for Salary Deduction application form
Talk to us about how to access your funds during the financially demanding time of the year - November, December and January.
- Minimum deposit of $20
- NO withdrawals between 1 February and 1 November each year
- Interest calculated daily
- Balances below $2,000 2.00% pa
- Balances above $2,000 3.00% pa
| Save this amount each fortnight commencing February | You will have saved this amount by Christmas Day |
| $25 | $600 + interest |
| $40 | $960 + interest |
| $50 | $1,200 + interest |
| $75 | $1,800 + interest |
| $100 | $2,400 + interest |
Interested in applying for savings account, Christmas or Incentive Plus?
Download the Account Application form and post back to us.
Personal Loans
Available to Diocesan employees only
9.50% pa variable
- Minimum loan $2,000
- Maximum loan $10,000
Download the latest Interest rates for Employees for CDF products.
Permanent employees of the Diocese with at least 12 months service may borrow for any worthwhile purpose provided they meet the CDF’s approval criteria. Terms and conditions apply.
Personal loans for portable computer devices and printers may be repaid as a before-tax deduction - salary sacrificing. This method of repayment may provide the employee with a tax advantage, but professional advice should be sought as it may not benefit everyone.Interested in applying for a Personal Loan? Download theLoan Application Diocesan Employee form and post or fax back to us.
Download the Authority for Salary Deduction application form for Personal Loans, Savings Account, Christmas or Incentive Plus Accounts.
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