Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Kingdom Resources reaches $4m interest free loans!

For immediate release
MEDIA RELEASE 30.5.2014

Kingdom Resources reaches $4m interest free loans!

Kingdom Resources has this week reached $4 million of interest free loans (to date) made to people to help break the debt and interest cycles. It reached this milestone the same week that it celebrated 25 years helping people in the Christchurch and Canterbury communities.

In 1988 Kingdom Resources started lending money interest free to people receiving ongoing budget advice and who were committed to escaping the debt trap (consumer debt – not mortgages). The loans are made possible due to the generosity of ordinary people investing interest free, with The Kingdom Resources Trust. They receive no personal monetary gain - they simply invest in people.

"New Zealanders owe well over $6 billion in credit card debt alone. Once in debt, many people remain trapped by the ongoing monthly accumulation of interest.
The interest is crippling for many, especially when you know that a $2,000 loan taken out at age 18 won't be paid back until you're nearing retirement if you just repay the minimum amount each month," says General Manager John Exton.

"Clients are often blown away that people who they don't know are helping them to escape financial hardship. Many would love to be able to do the same thing for others in the future," said Exton. "For investors, they see it as a real opportunity to help make a positive difference in the lives of many".

The Kingdom Resources Trust was the vision of Howard Taylor, then a pastor at South West Baptist Church (formerly Spreydon Baptist). He saw that there were people in desperate need and trapped in high interest debt, while others had savings. He set out to connect the two via Kingdom Resources. It worked.

25 years since it began, Kingdom Resources offers budget advice, employment advice for those seeking work and access to interest free loans. It impacts the lives of more than 3000 adults and children each year.

ENDS

Background Information

• Kingdom Resources provides budgeting and employment services to people in Christchurch and North Canterbury. It has a team of over 100 trained volunteer budget advisors and 12 staff (8 part-time)

• It is a charitable organisation.

• Last year it helped more than 3,000 people (adults and their children) with budgeting and/or employment services.


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Education: Schools Funded To Trial Innovative Approaches

Education Minister Hekia Parata has announced the successful applicants for a new $10 million fund to encourage innovative teaching practices. “I’m delighted with the quality of the 39 projects that have won funding in the first round of the Teacher-led Innovation Fund worth a total of about $2.6 million,” says Ms Parata. More>>

ALSO:

Generation Zero: Skypath Granted Resource Consent

Generation Zero is delighted and relieved that the ‘Skypath’ walking and cycling addition to the Harbour Bridge has been granted resource consent. More>>

ALSO:

Housing: Two New Auckland Special Housing Areas

Two new greenfield Special Housing Areas (SHAs) that will provide up to 1800 new homes in Auckland have been announced today by Building and Housing Minister Dr Nick Smith and Mayor Len Brown. More>>

ALSO:

Royals: The Prince Of Wales And Duchess Of Cornwall To Visit

Prime Minister John Key welcomes today’s announcement that the Prince of Wales and The Duchess of Cornwall will visit New Zealand in November. This will be the second joint visit for Their Royal Highnesses to New Zealand. More>>

ALSO:

Tracey Martin Replaced: Ron Mark Is New New Zealand First Deputy Leader

Clayton Mitchell was the successful candidate for the Associate Whip position. Winston Peters was re-elected as Leader by the Caucus. Ron Mark was elected as the Deputy Leader with effect from 10am, Friday, 3rd July. More>>

ALSO:

Rebuild Rebrand: "Regenerate Christchurch" To Replace CERA

The regeneration of Christchurch will be the city’s focus for the next five years as local leadership progressively takes control of the rebuild, Canterbury Earthquake Recovery Minister Gerry Brownlee says. More>>

ALSO:

Nauru: Scholars Urge Minister To Act On Deteriorating Democracy

“Since the 2013 election in Nauru, there has been a series of disturbing developments on the islands that indicate a severe deterioration in the state of its parliamentary democracy and in the rule of law,” say the scholars. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news