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

Gordon Campbell:
On The Inquiry Into One Case Of Dirty Politics

Suddenly, we’re awash in inquiries and reviews. (It feels almost as if the Greens won the last election.) Caught out by the damning inquiry by SIS Inspector-General Cheryl Gwyn, the government’s response yesterday was utterly in character – it released two other major reports at the same time to try and distract public attention...

Inquiries are supposed to re-assure the public. What these inquiry outcomes share in common is a government culture of zero responsibility. More>>

IGIS ON SIS:

 
 

Parliament Today:

Temporary Release Crackdown Continues: Corrections Review Of Phillip Smith Case

“The review by Corrections’ Chief Custodial Officer reveals that the plan for Smith’s series of temporary releases was overly ambitious and misinformed. He’s a highly manipulative and deceptive person who although technically eligible, should not have been considered for temporary release." More>>

ALSO:

White Ribbon Day: Govt Resumes Sexual Violence Trial Proceedings Work

Justice Minister Amy Adams has asked the Law Commission to resume work on proposals for better supporting victims of sexual violence through the criminal process. The Law Commission will revisit its previous work on alternative pre-trial and trial processes to identify options for improving complainants’ experience in court. More>>

ALSO:

"New Faces, Wise Heads": Andrew Little Announces New Labour Line Up

Labour Leader Andrew Little today announced a bold new caucus line up which brings forward new talent and draws on the party’s depth of experience. More>>

ALSO:

Gordon Campbell: On Rick Ellis As Te Papa’s New CEO

The recent appointment of former TVNZ boss Rick Ellis to head Te Papa has copped a fair bit of criticism. Much of it has been inspired by the suspicion that Ellis has been hired to pursue the same purely commercial goals as he did at TVNZ, while similarly neglecting the serious cultural side of his mandate. More>>

Passport Cancellation, Surveillance: Draft 'Foreign Fighters Legislation' Released

The final draft of the Countering Terrorist Fighters Legislation Bill contains proposals previously announced by Mr Key in a major national security speech earlier this month. More>>

ALSO:

Related

Joint Statement: Establishment Of NZ-China Strategic Partnership

At the invitation of Governor-General Lt Gen The Rt Hon Sir Jerry Mateparae and Prime Minister The Rt Hon John Key of New Zealand, President Xi Jinping of the People’s Republic of China made a state visit to New Zealand from 19 to 21 November 2014... More>>

ALSO:

Savings Targets: Health Procurement Plan Changes Direction

Next steps in implementing DHB shared services programme Health Minister Jonathan Coleman says the Government has agreed to explore a proposal put forward by DHBs to move implementation of the shared services programme to a DHB-owned vehicle. More>>

ALSO:

More on Health Policy:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news