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Stewardship joins with Kingdom Bank

Stewardship Joins With Kingdom Bank

Photo of Daniel Jones Daniel Jones
3 min

Stewardship and Kingdom Bank are delighted to announce a partnership between two significant Christian institutions. Subject to approval from the financial regulators PRA and FCA, Stewardship, together with a group of Christian philanthropists, has agreed to acquire Kingdom Bank from its current owner, Assemblies of God Property Trust (AOGPT).

The group acquiring Kingdom Bank hope that this change of ownership will facilitate even greater Church growth and Christian ministry through the services provided by the bank. Christians, churches and charities will have access to a wider range of financial services and products across the two organisations, as they continue to build God’s Kingdom.

Stewardship’s Chair of Trustees, Simon Blake said, “We are delighted at the opportunity to acquire Kingdom Bank with a committed group of evangelical Christian philanthropists who have agreed to invest alongside us. This partnership will give us additional firepower to invest in the Bank and strengthen its capabilities, while retaining and enhancing its distinctive Christian character. We will start by investing in the Bank's digital capabilities to enable greater accessibility for account opening and management, look out for these improvements next year.”

Stewardship, founded in 1906, is one of the largest Christian charities in the UK and is dedicated to promoting the generosity of Christians. In addition to working with over 30,000 Christians, who through Stewardship give over £80 million each year, the charity also provides services to churches and charities to enhance their financial management and governance.

Simon Blake continued, “We also see many opportunities for Kingdom Bank and Stewardship to work closely together, for example in the provision of loans to the numerous church plants and revitalisations occurring in the U.K. which is something we are both very keen to support. The Christian community, by placing its savings and deposits with Kingdom Bank, therefore enables us to support Churches, Charities and Christian workers with their property needs.”

AOGPT started lending in 1954 to support the acquisition of property by new and existing churches of Assemblies of God (AoG), and as the lending business grew, converted it into Kingdom Bank in 2005. AOG now has around 500 churches across the UK. For over 60 years, Kingdom Bank has provided mortgages, savings accounts and insurance services primarily to churches, Christian organisations and Christian workers in the UK.

Kristian Thorpe, Chair of AoGPT said, “We are excited that an agreement has been reached with Stewardship and the philanthropists and we are absolutely confident they will support the wonderful Christian heritage achieved by Kingdom Bank. We are especially pleased of the commitment to grow and expand the business using the existing staff and management teams.

In recent years Kingdom Bank has built on AOGPT’s mission to help newly formed church congregations and is now working across denominations and financing over £40m of projects that support growing churches. It is an explicitly Christian bank seeking to offer ethical banking governed by the Christian faith.

David Swanney, Chair of Kingdom Bank said, “This is a great opportunity for the bank to not only continue its present valuable ministry but enhance its vision to achieve more. We very much hope this will be approved by the Regulators, which will mean many more Christian churches and charities can be served and supported by the bank for years to come.” 

Kingdom Bank will be managed and operated by the Bank’s board and management, who will continue in place.

We will publish further updates in due course.

Profile image of Daniel Jones
Written by

Daniel Jones

Daniel joined Stewardship in 2007 and currently leads the Generosity Services division and driving growth in giving towards our target of £250m by 2025.

He has been responsible for developing many successful giving campaigns within Stewardship, including the popular 40acts Lent Challenge, and previously advised the National Stewardship Committee for the Church of England, particularly digital innovations like contactless collection plates and curriculums for parishes.  Daniel was also instrumental in bringing the Giving Tuesday movement to the UK following its successful launch in the USA.

Before joining Stewardship, Daniel led Hand in Hand for 3 years, a Christian international development charity that he co-founded with friends and continues to serve as trustee.

He is married with a teenage daughter and is currently exploring life in a local estate-based church plant.

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