Unclaimed Monies

Personal | Important Information | Unclaimed Monies Policy

Unclaimed Monies Policy


Unclaimed Monies are Dormant monies (refer to CDF Community Fund Dormancy Policy) that cannot be reunited with the account owner.  

 

CDF Community Fund will hold any unclaimed monies for a period of 12 months after Dormancy. Where the monies continue to remain unclaimed, the account will be closed, and the balance transferred to a charitable account that aligns to the charitable purposes of CDF Community Fund.  

 

If you contact CDF Community Fund after your account has been closed, where the account was dormant and monies were unclaimed, we will: 

 

  • Have the unclaimed monies paid to your nominated account, and 
  • Any fees charged, subsequent to Dormancy, will be refunded. 

CDPF Limited, a company established by the Australian Catholic Bishops Conference, has indemnified the CDF Community Fund ABN 94 380 397 118 (the Fund) against any liability arising out of a claim by investors in the Fund. In practice, this means your investment is backed by the assets of Catholic Archdiocese of Melbourne. The Fund is required by law to make the following disclosure: Investment in the Fund is only intended to attract investors whose primary purpose for making their investment is to support the charitable purposes of the Fund. Investor’s funds will be used to generate a return to the Fund that will be applied to further the charitable works of the Catholic Church. The Fund is not prudentially supervised by the Australian Prudential Regulation Authority nor has it been examined or approved by the Australian Securities and Investments Commission (ASIC). An investor in the Fund will not receive the benefit of the financial claims scheme or the depositor protection provisions in the Banking Act 1959 (Cth). The investments that the Fund offers are not subject to the usual protections for investors under the Corporations Act (Cth) or regulation by ASIC. Investors may be unable to get some or all of their money back when the investor expects or at all and investments in the Fund are not comparable to investments with banks, finance companies or fund managers. The Fund’s identification statement may be viewed here or by contacting the Fund. The Fund does not hold an Australian Financial Services Licence. The Fund has entered into an intermediary authorisation with CDFCF AFSL Limited ABN 49 622 976 747, AFSL No. 504202 to issue and deal in debentures.

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