35th Anniversary Celebrated By Local Budget Service

Kingdom Resources just celebrated supporting over 70,000 people at its 35th anniversary. Held at South-west Baptist Church, over 90 attendees heard that the Trust reached over $4.5million this year in interest-free loans, helping 1,015 families to set themselves free from debt.

“The need for our services was great 35 years ago with crippling high interest rates. The need is even greater today.  A $3,000 loan would set someone free from debt back then, whereas last year the average loan was nearer $10,000,” explained David Baines, Kingdom Resources’ Chief Executive.

“Demand for our services is very high.  So many people are struggling to make ends meet, including an increasing number of two-income families. The level of borrowing has increased, with credit card applications reaching their highest level since 2021, which means whanau debt will also increase. High rents and mortgages remain a huge strain on family finances, along with many other bills. Sadly, more clients are seeking to apply to KiwiSaver to release funds for hardship reasons, and it’s fantastic when following a discussion with a financial mentor alternative options may be found.”

“We hear stories of clients choosing what bill to pay each week, and just never getting ahead. Times are very tough, not just in Christchurch, but we know across Aotearoa that August saw the highest demand for financial mentoring on record,” explained Baines.

While Kingdom Resources is committed to continue to support those in need, it has its own budgeting issues thanks to government funding cuts this year.

“We’re definitely challenged financially at the moment, but we’re committed to supporting our community and working hard to find ways to generate more income. This includes seeking sponsorship opportunities, attracting more donors and we’re soon to launch a new social enterprise. 35 years as a not for profit is a great achievement, but with the need even greater today it’s even more important to find sustainable solutions for continuing this important mahi.  It’s vital to equip and empower clients and their whanau, and bringing them hope for the future,” said Baines.

Kingdom Resources Trust was the vision of Howard Taylor, then a pastor of Southwest 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 and it worked.

Heralded as an excellent budget service by the community and its peer services, Kingdom Resources supports over 2,000 adults and their children each year. 

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