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

Gaza.Scoop: UNRWA School, Ambulances Attacked - Gaza MOH

The Ministry of Health Gaza expresses its horror and outrage at the latest Israeli massacre moments ago at an UNRWA school sheltering displaced persons in Beit Hanoun. Ten people have been killed and there is a large number of wounded. More>>

ALSO:

Gordon Campbell:
On Gaza And Burning The Israeli Flag

One of the selling points in New Zealand’s campaign for a temporary seat on the Security Council is that we have a pluckily independent voice to offer on international conflicts.

This image is not entirely self-delusional. When we did occupy a temporary UN Security Council seat in the 1990s, New Zealand was forthright about the need for the international community to actively respond to the Rwanda genocide. On April 14, 1994, New Zealand, Nigeria and the Czech Republic were the only nations to call for a forceful UN intervention to halt the killings. It was a proud moment in the diplomatic record of the Bolger government.

What then, is the current National government doing with respect to the slaughter in Gaza? More>>

 

Parliament Today:

TAIC Report: Urgent Recommendations After Melling Rail Accident

The Transport Accident Investigation Commission has made four urgent recommendations to KiwiRail following the accident two months ago (27 May) when a Matangi passenger train collided with a stop block at Melling Station, Lower Hutt. More>>

ALSO:

Red Tape: Local Regulations Go Under Microscope

The Government says it is accepting nearly all of the recommendations the Productivity Commission has made on ways to improve local regulations. More>>

ALSO:

Spending Questions: Claudette Hauiti To Step Aside At Election

National Party President Peter Goodfellow confirms that he has received notification from List MP Claudette Hauiti that she plans to step aside at the 20 September election. More>>

ALSO:

EPA: Board Of Inquiry Rejects Basin Flyover By Majority Of 3 To 1

The independent Board of Inquiry delegated to decide on the Basin Bridge Proposal has, by a majority decision (3 to 1), cancelled the Transport Agency’s Notice of Requirement and declined its resource consent applications for the construction, operation and maintenance of a flyover on State Highway 1 in Wellington City... More>>

ALSO:

Gordon Campbell: On The Non-Apology To Tania Billingsley

The refusal by Prime Minister John Key to issue a personal apology to Tania Billingsley has been accompanied by an array of excuses... Yesterday though, Key’s choice of words indicated that an apology was the last thing on his mind. More>>

ALSO:

Conventions: Winston Peters On The Nation

Winston Peters opens door to standing in East Coast Bays electorate, says it's an "exciting point" and he's thinking about it. "I’ve had a whole lot of people writing to me and calling up and saying ‘why don’t you have a go in East Coast Bays’." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news