Kingdom Bank is to give a share of its profits this year to a Christian debt counselling service anticipating a rise in calls from people worried about post-Christmas credit card bills.
Christians Against Poverty (CAP) will receive the funds as part of Kingdom Bank’s commitment to give 20 per cent of its annual profits to charity.
The Christian bank said it wanted to bless the charity with a major donation in light of the pressure many individuals and families are feeling in the economic downturn.
Chief Executive Officer of the Christian bank, Guy Priestley, said: “CAP’s free service is one that is very hands on and shows God’s love in action by offering sustainable poverty relief through debt counselling, advice and practical help.
“We recognised the importance of CAP’s work and were impressed with its approach to debt counselling.”
Kingdom Bank pointed to a recent AXA survey which found that 11.6 million Britons were finding it difficult to meet credit card repayments and mortgage arrears.
“We hope that our support will be of great help to them, as they predict an increase in calls for help from those struggling to meet credit card payments,” added Mr Priestley.
CAP said the funds would go towards its work in helping thousands of socially marginalised people lift themselves out of debt and meeting the expected rise in demand for its services.
“With the problem of debt growing constantly, it is vital that CAP expands its service to reach more poor and socially marginalised people across the UK,” said CAP spokeswoman Tina Morris.
“With the recent credit crunch and subsequent economic problems in the country, the need for effective debt counselling is becoming more urgent.”
