We are delighted to announce that CCFS (Churches of Christ Financial Services) and BFS (Baptist Financial Services) have agreed in principle to join forces to serve the needs of the broader Christian community.
The final decision to merge remains subject to completion of ongoing due diligence and working through the various practical details involved, but is expected to occur before the end of 2024.
For some time, both organisations have been working closely together, sharing knowledge, best practices and the joint funding of church projects. This proposed merger is a genuine expression
of Kingdom goodwill that transcends ‘denominational’ boundaries.
Both CCFS and BFS have a common purpose of supporting local churches and ministries in each state through relevant products and services, funding and friendly personalised service. The aim remains unchanged, to serve clients to the best of our abilities and ensure resources are stewarded as effectively as they can be.
CCFS (and its predecessor The Properties Corporation) has been operating for more than 73 years and BFS for 40 years. Together, they will have combined assets of approximately $580m with capital in excess of $50m. Our increased capital and asset base provides further comfort and
assurance to those who invest with us. Key stakeholder, Churches of Christ in Victoria and Tasmania Inc, is confident that the merger will provide increased funding for church projects and resourcing for their churches and ministry partners, Churches of Christ SA & NT and Churches
of Christ in WA.
What this means for CCFS and BFS customers
Our aim is to ensure all clients continue to enjoy their current arrangements and services. We will work gradually and carefully to integrate operational elements to ensure no client is disadvantaged.
As we progress, we will communicate and provide information regarding additional benefits and opportunities for clients. CCFS and BFS clients will each receive specific communications as the
practical arrangements of the merger are progressed and finalised.
Technology continues to play an increasingly important role in the provision of financial services. Partnering together will enable increased investment in technology to ensure we are able to
provide contemporary, convenient and relevant products and services.
We are of course always happy to respond to questions and these may be sent to Stuart Campbell, CCFS National Relationship Manager at the following email address cxo@ccfsaustralia.org.au.
We look forward to your ongoing partnering with this exciting initiative.
On behalf of the CCFS Team and Board
