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CCFS successful in obtaining an AFSL

During the latter part of 2017, the team at CCFS were working hard to prepare an application for an Australian Financial Services Licence. Many hours were spent in discussions with our specialist lawyers to determine the scope of the financial services licence and, once determined, conducting the appropriate compliance training to meet the obligations required. Just prior to the Christmas/New Year break we received welcome news from ASIC that we had been successful.

What this means for you, our clients
CCFS is fully committed to maintaining a high standard of governance and regulatory compliance. Although we operate within a Banking Act exemption provided to religious charitable development funds, CCFS is cognizant of the stringent requirements on all financial organisations and seek to reflect these where relevant and appropriate.

The accounts and investments in this advertisement are debentures products and not deposit products. Churches of Christ Financial Services is a division of Baptist Financial Services (BFS) ABN 56 002 861 789 AFSL 311062 is a Registered Charity and issuer of the debentures products. BFS (and therefore CCFS) is not prudentially supervised by APRA. Therefore, an investor in our products will not receive the benefit of the financial claims scheme or the depositor protection provisions in the Banking Act 1959. Investments in our products are intended to be a means for investors to support the charitable purposes of CCFS. We are required by law to notify investors that our products are intended only to attract investors whose primary purpose is to support our charitable purposes, are not comparable to investments with banks, finance companies or fund managers, and investors may be unable to get some or all of their money back when they expect or at all. Persons should consider whether or not the debentures are appropriate for them.

Indue Limited ABN 97 087 822 464 (registered office located in Brisbane) is the issuer of the CCFS Minister’s Expense Card Visa Prepaid Card (MEA Visa). AFS Licence No. 320 204. Churches of Christ Financial Services is a division of Baptist Financial Services Australia Limited ABN 56 002 861 789 (AFS Licence No. 311 062) and is an agent of Indue. Please refer to the Financial Services Guides. The Product Disclosure Statements and Target Market Determinations are available for the MEA Visa Prepaid Card and can be obtained on our website at https://www.ccfsaustralia.org.au. You should consider the Product Disclosure Statements and Target Market Determinations in deciding whether or not to acquire this card.

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