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 Team Behind Trump's Throne

Forget the Putin factor. Daily, the team of charlatans, bigots and stunningly ignorant crackpots that Trump is appointing to head key federal agencies is just as alarming. These are positions with vast power and budgetary discretion over policies that stand to affect tens of millions of vulnerable Americans. Sad! More>>

 

Gordon Campbell: On Bill English, Abroad

If David Cameron was the closest thing John Key had to a political mentor, their successors also share a whole lot in common. Theresa May and Bill English were both propelled into the top jobs as the result of unexpected resignations, and without much in the way of credible competition from their colleagues... More>>

ALSO:

Pike River: Labour Bill To Override Safety Act For Mine Entry

“Bill English has been hiding behind the legal excuse that any attempt to re-enter the mine to recover the bodies might place the mine’s owner, Solid Energy Limited, and its directors in breach of the Health and Safety at Work Act 2015." More>>

ALSO:

Gordon Campbell: On Populism And Labour 2017

For many people on the centre-left, populism is a dirty word, and a shorthand for the politics of bigotry. In this country, it has tended to be equated with the angry legions of New Zealand First. Who knew they were not just a reactionary spasm, but the wave of the future? More>>

Oxfam: 30% Of NZ Owns Less Wealth Than Our Two Richest Men

The research also reveals that the richest one per cent have 20 per cent of the wealth in New Zealand, while 90 per cent of the population owns less than half of the nation’s wealth. The research forms part of a global report released to coincide with this week’s annual meeting of political and business leaders at the World Economic Forum in Davos, Switzerland. More>>

ALSO:

Hospitals: Resident Doctors Set To Strike Again

Despite discussions between the DHBs and NZRDA over safer hours for resident doctors progressing during the last week, the strike planned for next week appears set to proceed. More>>

ALSO:

Not So Super Fund: More Burning Ethical Questions For Steven Joyce

Greens: Radio New Zealand reported this morning that the New Zealand Superfund has $77 million invested in 47 coal companies that the Norwegian Government’s Pension Fund – the largest sovereign fund in the world – has blacklisted. More>>

Activism: Greenpeace Intercepts World’s Biggest Seismic Oil Ship

Greenpeace crew have made contact with the world’s biggest seismic oil ship after travelling 50 nautical miles on two rigid-hulled inflatables off the coast of Wairarapa... Greenpeace radioed the master of the Amazon Warrior to deliver an open letter of protest signed by over 60,000 New Zealanders. More>>

ALSO:

Gordon Campbell: Why Tax Cuts In 2017 Would Be A (Proven) Bad Idea

Ever since the world fell prey to the mullahs of the free market in the 1980s, no amount of real world evidence has managed dispel one key tenet of their economic faith. Namely, the idea that if you cut income taxes and taxes on small business, a wave of individual enterprise and entrepreneurial energy will thus be unleashed, profits will rise and – hey bingo! – the tax cuts will soon be paying for themselves ... More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
More RSS  RSS
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news