With a 60 year history, Kingdom Bank has a rich heritage on which to draw. The inspiration for the foundation of this modern financial institution was the pressing need to provide affordable quality Church premises for new congregations.
In the early 1950’s Pastor George Oldershaw was fulfilling his calling of planting new Pentecostal Churches across the UK from within the Assemblies of God fellowship. As the congregations became established he was keen to help them purchase premises but found the High Street Banks nervous of lending. His solution was to establish a fund where more established churches would deposit money and the newer fellowships could borrow.
In 1954 the fund became a Registered Charity known as Assemblies of God Property Trust. The organisation saw slow but steady growth and was authorised by the Bank of England in the 1980’s and subsequently by the Financial Services Authority.
On 1 January 2005 Kingdom Bank was launched as a wholly owned subsidiary of the Charity, authorised and regulated by the Financial Services Authority and ready to serve the whole Christian community in the UK. Today the Bank remains wholly owned by Assemblies of God Property Trust, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
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Your eligible deposits with Kingdom Bank Ltd are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. Please click here for further information or visit: www.fscs.org.uk
The Financial Ombudsman Services exists to provide consumers with an additional complaint support if, at the conclusion of your complaint, you remain dissatisfied. You can view further information at: www.financial-ombudsman.org.uk