Mortgages, Savings, and Insurance for the Kingdom
How can churches use Kingdom Bank to help steward their money for the good of the kingdom?
As Christians, and indeed as churches, we know that God calls us to steward our money wisely for the good of others and his kingdom (1 Peter 4:10).
So, how can we ensure we do this with all our finances, not just our giving?
The apostle Paul introduced the concept of gospel partnership as he wrote of the generous support provided for him by the first century Philippian church, through which he sees them as co-workers in his gospel ministry (Philippians 1:3-5).
At Kingdom Bank, we were captured by this vision to enable Christians, churches, and Christian charities to put their savings to good use in supporting gospel work across the UK.
In fact, this has been part of our DNA for many years. Kingdom Bank’s forerunner organisation was immensely innovative when it was set up in the 1950s by Assemblies of God (AoG) pastor, George Oldershaw. To facilitate gospel partnership and church growth within AoG, Oldershaw developed a fund which enabled established congregations to deposit and newer congregations to borrow. In 2005 that organisation became Kingdom Bank, and the service we provide today is essentially the same.
A significant milestone in the bank’s mission was our acquisition by a new group of evangelical investors in March 2020. This group is comprised of individuals and the Christian charity Stewardship, all of whom share our vision for gospel partnership and UK church growth.
With this vision in mind, we developed our Gospel Partner accounts. These are available to individuals, churches, and Christian charities. They typically earn interest at a slightly lower rate, enabling the Bank to provide more affordable support for church planting, church refurbishment, and ministers' housing projects across the UK.
Gospel partnership bearing fruit
It’s been a joy to see the savings and deposits of Christians and gospel organisations around the country, as well as the increased capital that has come with our new ownership, being put to good use.
So far this year, we’ve been able to finance church building developments, the purchase of ministry staff housing, home mortgages for missionaries, and other exciting property projects. If you’d like to read more about the customers we’ve helped, head to the Good News Stories area of our website.
With churches and ministry workers sometimes finding mainstream banks unwilling to lend due to the unusual nature of their income, it’s a pleasure to be able to use both our expertise in mortgage advice and our deep understanding of gift income to provide the support needed.
Alongside our banking services, we also provide churches with an insurance broker service, sourcing the right insurance for churches’ needs at the best price we can find.
Is your church thinking of undertaking a building project? Are you a church worker who would love to purchase a home? We’d be delighted to discuss whether Kingdom Bank might be able to help, no matter how far along you are in the mortgage process. Or maybe we can help find your church a great insurance deal.
To find out more or get in touch with our friendly team, head to the Kingdom Bank website.