FAQs

Below is a range of Frequently Asked Questions, or FAQs, that my assist you.

How is this different to the assessment criteria used by a bank? Our team have extensive experience in servicing the financial needs of Church of Christ organisations and a strong understanding of church mission. Our role is to support the delivery of mission and projects with appropriate and customised financial products and services. CCFS is committed to behaving in the best interests of Church of Christ organisations. Our commitment to church mission is tempered with responsible lending practices, and all applications for loans are assessed on their financial capacity as much as their purpose. This is to ensure that church organisations are not placing themselves at financial risk and can comfortably afford to repay a loan. Financial statements are used to make these assessments, however in contrast to other financial institutions, in some rare instances other factors may be taken into consideration. It is important that every loan application is assessed individually. Our Relationship Team is available to discuss borrowing enquiries by telephone or in person. Simply call us on 1300 MY CCFS (1300 692237) or see the borrowing section on our website for more information.

Yes. CCFS business processes and decisions reflect our purpose to provide financial leadership and support for Church of Christ organisations. As part of the Church of Christ, CCFS adheres to the ethical investment principles and guidelines of the Churches of Christ, which require that our investment decisions are considerate of the needs of all of our investors, the community and the environment. As a responsible member of the financial services community, CCFS also carefully assesses applications for loans by Church of Christ organisations and other borrowers to ensure that they are not placing themselves at risk through their borrowings.

Yes. CCFS is not limited by state borders and would be pleased to discuss how we could assist churches, affiliated organisations, ministers and employees within the Churches of Christ within Australia.

CCFS is managed in a similar way, and to similar standards as many regulated financial institutions. So whilst we are not regulated, we voluntarily comply with capital adequacy and liquidity ratios to minimize risk. In addition to the conservative policies of CCFS, the substantial assets and resources of participating state development funds underwrite all investments held by individual investors with CCFS.

Easy Access account holders will receive quarterly statements. Term Investment holders will receive an investment certificate shortly after investing the funds. Prior to the investment’s maturity a letter will be forwarded confirming the amount plus interest asking for your instructions regarding reinvestment or disbursement. Additionally, balances on all accounts can be checked at any time via CCFS Online. If you don’t yet have access to CCFS Online please call the Relationship Manager in your state who can arrange for this to be made available to you.

Investors should be aware that deposits invested with CCFS are not subject to the normal requirement to have a disclosure document or Product Disclosure Statement and be registered or have a trust deed under the Corporations Act 2001. We do have Product Information Guides for your reference however, we need to highlight that the depositors’ scheme is not required to be examined or approved by the Australian Securities and Investments Commission. Funds lodged with CCFS are designed for investors who wish to promote the charitable purposes of the Churches of Christ and for whom the consideration of profits are not of primary relevance in the investment decision. Neither the controlling entity nor the Fund is prudentially supervised by APRA. Contributions to the Fund do not obtain the benefit of depositor protection provisions of the Banking Act 1959.

Easy Access account holders will receive quarterly statements. Term Investment holders will receive an investment certificate shortly after investing the funds. Prior to the investment’s maturity a letter will be forwarded confirming the amount plus interest asking for your instructions regarding reinvestment or disbursement. Additionally, balances on all accounts can be checked at any time via CCFS Online. If you don’t yet have access to CCFS Online please call the Relationship Manager in your state who can arrange for this to be made available to you.

That depends on the type of account you have. For term investments, you have the choice of interest being paid 6 monthly or at maturity. For Easy Access accounts interest is credited every 6 months on 1 July and 1 January. You can choose to accrue the interest to your account or be paid by cheque or direct deposit to your nominated bank account.

Speak to your CCFS Relationship Manager during office hours. They are always ready to assist you. Simply call 1300 MY CCFS (1300 69 22 37) or go to the website www.ccfsaustralia.org.au for the specific contact details of the Relationship Manager for your state.

Yes! It’s that easy. Our personal accounts work best as savings accounts so we encourage you to keep adding to your savings as you go along.

Yes, simply download an application form and forward to CCFS to open a new account.

Term Investments are not payable until maturity. Where it is necessary for you to access your funds from a term investment prior to maturity, the account will be closed and an interest adjustment will be processed.

Easy access accounts can be added to and withdrawn from at any time. However no withdrawals or investments can be made to or from Term Investments or 31 Access accounts until maturity.

We aim to make it as easy as possible! Call one of our Relationship Managers on 1300 MY CCFS (1300 69 22 37), email or click on the “Switch” links on our website for further guidance. We will be more than happy to meet with you and guide you through the process of switching.

Yes our statements are issued quarterly at the end of March, June, September and December. In addition to showing all transactions for the account, statements also show interest earned for each period. If you need to access information between statement dates you can access a transaction listing via CCFS Online Access or by contacting the Relationship Manager in your state.