Bank hits record church lending
Iain Taylor
Kingdom Bank has announced record lending for 2024, having approved 99 mortgages with a total value of nearly £27million.
The Christian bank uses deposits from churches and individuals to make loans to churches, Christian charities and those in full-time ministry secured on property. Since 2020, it has granted £100 million in loans and aims to boost that number by 150% over the next five years, lending a further £250 million by 2030. Of the mortgages in 2024, 44 were for church buildings, 28 were for houses for church leaders, 20 were personal mortgages for Christian ministers and seven – for churches and charities – were secured on other types of buildings. The largest group applying for loans was independent evangelical churches.
Should we continue tithing today?
Several years ago, I attended a truly uplifting worship session at a mega-church in Leatherhead. Yet, at the conclusion of that session, I was disappointed to hear the Senior Pastor trot out the usual shop-worn arguments for the continuance of tithing in the New Testament.
Of course, I can understand churches’ attraction to having a substantial and predictable source of church funds. However, stretching the applicability of an Old Testament regulation to our New Testament era is not the way to do it.