That is to be understood as meaning the Catholic Church is the Church founded by Christ Himself.  As such, it is in and through the Church, that it is possible for men to be saved. The Church is the Body of Christ and therefore Christ acts in and through His Body. That said, were it not for the Church, there would be no Salvation; with that we recognize that there is one Baptism and one Church. Even Protestants are Catholics in an imperfect way. They are called by the Holy Spirit to continue to pursue the truth. Of course, they would deny this but, the fact is, a Protestant is simply a Protesting Catholic. Returning to your question, some people misunderstood this doctrine and took it to mean one had to be a "card carrying Catholic" in order to have a chance of being saved. Well, the Church has never taught that and will never teach that any particular person will go to hell. Hell was made for Satan and his demons, not for people. Some people will go there, but we don't know whom. At best, we can "think" or "speculate" that Judas Iscariot who betrayed Christ went to hell. There are some texts in the book of Acts that seem to imply that he was condemned, but the Church has never said it officially. The Catholic Church is the same Church: pre-Vatican II or post-Vatican II. Vatican II didn't change anything we believe. It couldn't if it wanted