Established in 1968, this is one of the few funds which make grants for both property and ministry. It is raised by a levy on proceeds from the sale of property. Where these are to be used immediately for a replacement scheme, the levy is waived. Grants are made for new work of connexional significance, essential and urgent building schemes and the creation and support of priority appointments. Among projects supported by it have been new diaconal appointments made when the Diaconate was re-opened in 1986 and the major refurbishment of Westminster Central Hall.
Renamed in 2009 the Connexional Priority Fund, its purposes now include, besides those mentioned above, the allocation of a proportion of its balances to a Pension Reserve Fund, and the distribution annually of an appropriate proportion of the funds raised by the levy to some or all of the District Advance Funds.
The fund is now administered, alongside the other major grant-making funds, by the Connexional Grants Committee.