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Here’s how your investment can reduce your church’s interest bill

Church Builder Interest Offset accounts are one of two different offset accounts offered by CCFS.

This product is available to church congregation members who wish to provide financial assistance for their church’s building activities.

How does it work?

CCFS holds the investment on behalf of the investor, with the investor always retaining ownership and control over their investment, whilst “donating” their interest.

All accounts identified as offset accounts are linked to the church loan account and are aggregated to calculate the loan offset benefit for the church. The investor receives no interest however, the church’s monthly interest bill is reduced by an equivalent amount.

How much can be offset?

The first $100,000 or 20% of the church’s loan limit (whichever is greater) qualifies for 100% offset. Offset amounts more than this amount receive a partial offset rate. Offset amounts are deducted from the loan interest at the end of each month. Interest is calculated daily and credited monthly.

How long do funds need to be invested for?

31 days notice is required to be given when withdrawing funds. This allows CCFS to provide appropriate notice to the church and adjust loan repayments accordingly. An account holder should also be mindful of any commitment made to their church when they first entered the arrangement regarding the term of the offset investment. For convenience, your account can be viewed online through a view only CCFS Online profile and statements will be provided regularly.

Contact our customer service team to find out more via the contact us page.

 

Important Information:

Church of Christ Financial Services Limited (CCFS) ABN 86 165 535 866 is the holder of an Australian Financial Services Licence (AFSL) number 502160 and is regulated by many regulators including the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA). For full details please refer to our disclaimer which can be viewed here

 

 

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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