It sounds like a match made in heaven — a groundbreaking and mutually beneficial partnership between the AME Church and Capital G Bank.

Thousands of AME members on the Island are being encouraged to join a new scheme and switch their financial affairs to Capital G in exchange for preferential rates and the ability to earn their church and themselves some extra money.

The church hopes to make between $300,000 and $500,000 from the programme after its first year — money which will be ploughed back into family-based social programmes already up-and-running across the Island.

And, as a press conference at Bright Temple AME Church in Warwick heard yesterday, Capital G hopes to gain many new customers in the process.

The Bermuda AME Church Affinity Programme — thought to be first of its kind on the Island — was launched with the blessing of the Right Reverend Richard F. Norris, the Bishop for the First Episcopal District of the AME, which includes Bermuda.

"Today's announcement is historic in that it represents the most significant advance in economic development for the AME Church, our members and our mandate to continue the kingdom building of God," he said.

He later told The Royal Gazette that some of the AME's 11 churches on the Island had already made savings on insurance thanks to the programme.

"That's just the beginning of what I anticipate will happen with the Affinity programme," said the Bishop, who is the chairman of the Bermuda AME Annual Conference board of trustees.

"I do want to see it fully embraced by the churches and expanding to the inclusion of our membership. I'm hopeful and I'm expecting it to be a growing and expanding effort."

He admitted the benefits of the programme, such as discounted mortgage rates and cash back on credit card purchases, might even attract some to join the church, which already has about 6,000 members in Bermuda.

"While we are not principally looking to use it as a tool for evangelism, it clearly is a tool for evangelism because there are persons who will gravitate wherever benefits are derived," he said. "Even if they come without that (religious) intention, it's hard to stay near to the fire and not get warm."

Grant Gibbons, from the Gibbons Group of Companies, to which Capital G belongs, told the press conference: "The bottom line is that this clearly is a programme that has been put together to benefit the church and its members but also we hope it will benefit the Gibbons Group."

He described the "unique partnership" as "important and historic" for both parties and said it was in keeping with the community-minded aims of his grandfather Edmund, when he went into business in 1916.

John Kephart, president and CEO of Capital G, explained that the programme would develop an income stream for the church while benefiting participating churchgoers.

With an Affinity credit card, for example, users get a credit back for every purchase and the same amount goes to the church.

The programme takes in bank accounts, debit cards, mortgages, loans, insurance services and shopping, with Gibbons Group companies such as Bermuda Motors, Colonial Insurance and Burrows Lightbourn involved.

Mr. Kephart said additional companies from outside the Gibbons Group could eventually join the scheme, including local restaurants.

The Affinity idea was the brainchild of Bishop Philip R. Cousin, who is now retired, more than ten years ago. Nalton Brangman, assistant to the conference trustee board, and the Reverend Leonard Santucci, began work on it in 1998 but a first attempt to launch a scheme in 2000 failed.

Mr. Brangman said: "The work continued with the next launch attempt with a more consolidated approach to the Gibbons Group in February 2008. Today we celebrate the most aggressive economic development programme in black history."