Kingdom Bank is a Christian bank, established in the United Kingdom in the 1950s. The bank was founded by a pastor, George Oldershaw, to finance the growth and development of UK churches after he found it difficult to secure lending for church properties from traditional High Street banks.
The company became a charity, named Assemblies of God Property Trust, in 1954 and received its banking licence in the 1980s. Kingdom Bank is a wholly owned subsidiary of the Property Trust and was founded in January 2005.
As a Christian organisation, the Christian faith informs all of Kingdom Bank’s activities. Profits are donated to good causes and the bank focuses on improving lives through the development it offers to churches. Staff at the bank are given time to pray and directors and staff go on annual Christian retreats.
Kingdom Bank Products and Services
Kingdom offers a wide range of savings accounts for individuals, churches and charities. These savings are loaned to churches and charities to help them build and develop. Customers can choose from:
Call account (offers instant access to savings, pays a lower rate of interest)
Notice accounts (notice of withdrawal needed, pays slightly better rate of interest)
Savings bonds (lump sum invested over a fixed term, pays a higher rate of interest)
Treasury accounts (larger lump sums invested over a fixed term)
Postal (deposits can be made by post)
Young savers (for children over the age of 12)
A range of ISA accounts are also available; both tracker and fixed rate.
Kingdom doesn’t work with third-party insurance brokers as it is its own brokerage; it expanded its insurance offering in 2009 after purchasing the insurance arm of Christian charity Stewardship Services.
Kingdom insures the activities of its churches and their activities, which may include insurance products for charities, clubs and associations, community groups, trustee indemnity, professional indemnity and community minibus cover.