16 January 2024

Four considerations when choosing a bank for your church

The following article was written by one of our Agency members, Kingdom Bank. You can find out more about Kingdom Bank here.

Photo credit: Kingdom Bank

Many Christians are aware of the Biblical principles of godly financial stewardship and generosity and are diligent in ensuring they are giving to their local church and other ministries. But how should we be handling the money we don’t directly give away? How can our banking and our savings reflect our heart for the gospel?

In this blog post, the Kingdom Bank team shares some considerations for individuals and organisations thinking about how best to manage their savings.

Ethical banking – where does your bank invest your money? 

The conversation around ethical banking has become prominent in recent years, with more people beginning to consider how their bank invests their money. Our money has the power to do good or harm, so it’s important to think carefully about how your bank is using yours. Does how your bank invests your savings reflect your values and beliefs? If not, it could be time for a change. 

Notice periods – do you need it now?

For some people, having instant access to their savings is important, so they may choose to have something like an easy access savings account. But for others, they don’t have immediate plans to use their savings, so could consider something like an ISA or a savings bond. When you choose an account with a longer notice period, you will typically get a slightly higher interest rate. If you think you’ll need access to some but not all of your savings, you could consider splitting them across accounts with different terms to benefit from different notice periods and interest rates. 

Interest rates – are higher rates best?

Many of us will have been advised to find the highest interest rate possible to maximise our savings and steward our money responsibly. But what if good stewardship meant choosing a slightly lower interest rate account? At Kingdom Bank, all of the savings placed with us enable lending to gospel ministries across the UK, however, it’s our lower-rate accounts that most directly facilitate us keeping our mortgage interest rates as low as we possibly can. Whilst opting to receive less interest on savings may not be the right choice for everyone, it can equate to a minimal difference in account balance that enables a big difference for gospel work across the country. 

Protecting your money – how do I know it’s safe?

We all want to be confident that our money is safe and being looked after responsibly. That’s why schemes like the Financial Services Compensation Scheme (FSCS) are so important. The FSCS gives automatic protection of up to £85,000 in the event of a bank, building society or credit union going out of business. It’s important to check that the institution you save with is a member of this scheme.

Put your money where your heart is

If you’d like to find out more about giving your savings a mission with Kingdom Bank, visit www.kingdom.bank or call their friendly savings team on 0115 921 7260.


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