The Good Investor – Advice from Baptist Savings

Baptist Savings achieved a significant milestone in August with investor deposits reaching the $70 million mark, a sign that the organisation is reaching its goals of raising the profile of Baptist Savings and broadening its investor base.

The chairman of the board, Graham Shaw, says Baptist Savings has taken on a number of new investors, which was, and is, a key strategic goal for the organisation.

“I am very pleased that we have had that quantum of money come in. Just as important is the fact that Baptist Savings has a reinvestment rate of 98%, which is very high for the sector. “I expect the strong growth in deposits is largely the result of Baptist Savings becoming better known among Baptist churches. It is as much a profile thing as it is a good interest rate. 

“I think particularly the work Andrew L’Almont (Business Development Manager) is doing, including the nationwide seminars and regular Radio Rhema programme, just raises the profile. Evidence from our website is that traffic increases after the radio programme.

“The need of churches is still there. While Christchurch is taking longer to progress than expected, we anticipate a significant call on funds for that city going forward. 

“We also have a good pipeline of projects and so investors can be assured that their funds will be put to good use,” says Graham.

Business Development Manager Andrew L’Almont says it is wonderful to see the plan coming together, particularly during the organisation’s 50th Jubilee year.

“The business plan calls for us to achieve four significant goals – to lift the profile of Baptist Savings, to ensure we are commercially competitive, to show people how they can leave a legacy and last, but not least, to show people in the churches how to reduce their debt.

“One of my goals remains to ensure that Baptist Savings, together with the Church, becomes a trusted organisation when it comes to advising people on their finances. We must build a voice that is unbiased and not commission driven.

“I believe the Lord is blessing our efforts and they are bearing fruit,” says Andrew.

Baptist Savings General Manager John Smeaton said growing the deposits base is important because the demand is still there.

“To do anything nowadays is an expensive exercise – it’s no longer $150,000 or $200,000 that people need. Just a renovation will cost half a million and a new church is in the region of two or three million dollars.

Read more: Baptist Savings hits $70 million