Christian Savings is New Zealand’s only registered charity that is also licensed by the Reserve Bank of New Zealand as a non-bank deposit taker. Christian Savings manages over $225m, with over $180m in loans to a range of not-for-profits and Community Housing Providers.
James identified a need to grow impact investing to help meet New Zealand’s significant housing crisis. The core focus is on permanent solutions delivered by reputable organisations who are equipped to take care of our most vulnerable New Zealanders.
James presented an eye watering overview of the real stats and the state of housing in New Zealand, and he shared his thoughts on some of the solutions needed to tackle New Zealand’s greatest social crisis since the Great Depression. There were many examples and statistics shared, but one that stood out was that "70% of all housing rentals receive Government Subsidy of some sort, totaling over $3.50b per annum. One other interesting quote was, "let's start investing in homes, rater than just houses".
Community Finance has already advanced over $50 million to Community Housing Providers such as The Salvation Army and Community of Refuge Trust. Early this year, Community Finance launched the Aotearoa Pledge to raise an additional $100m for impact investing through the housing sector. By April 2021, $71m had already been pledged from a range of fund managers, KiwiSaver providers and community trusts and foundations.
At the Institute of Financial Professionals of New Zealand Gala event in May, James won the coveted Emerging Leader Award for 2021 and, having had the opportunity of hearing James speak, it is not hard to see why he won award and why cousin Penny is so proud of his achievements to date. James is only 29 and we can expect to hear much more about his future successes in the years to come.
Many thanks James for such an inspiring presentation.
