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AN (APPROXIMATE) AGENDA JAK MEMBERS BANK AND ITS HISTORY.

AN (APPROXIMATE) AGENDA JAK MEMBERS BANK AND ITS HISTORY. SAVING AND LOAN SYSTEM – HOW DOES IT WORK? SOME MORE INFO ON TAKING A LOAN IN JAK. JAK – A TELEPHONE AND INTERNET BANK. THE HOMEPAGE. QUESTIONS, THOUGHTS AND DISCUSSION. POSSIBILITIES TO ENGAGEMENT AND EDUCATION. EVALUATION.

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AN (APPROXIMATE) AGENDA JAK MEMBERS BANK AND ITS HISTORY.

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  1. AN (APPROXIMATE) AGENDA • JAK MEMBERS BANK AND ITS HISTORY. • SAVING AND LOAN SYSTEM – HOW DOES IT WORK? • SOME MORE INFO ON TAKING A LOAN IN JAK. • JAK – A TELEPHONE AND INTERNET BANK. THE HOMEPAGE. • QUESTIONS, THOUGHTS AND DISCUSSION. • POSSIBILITIES TO ENGAGEMENT AND EDUCATION. • EVALUATION.

  2. WHAT IS JAK? HOW DOES IT WORK?

  3. THE PURPOSES OF JAK: ARE TO SUPPORT THE MEMBERS WITH A BANKING SYSTEM AT COST PRICE... ... AND TO SPREAD INFORMATION ON INTEREST-FREE ECONOMY.

  4. The share of the Swedish population being members of JAK Members Bank Ca. 36 000 members whereof686 are active, constituting 405 informants 24 local groups2 bank offices30 employees

  5. Number of Members from 1992 and Onwards. Number of Members

  6. Deposits and Loans (1991 -2009) Deposits Loans

  7. JAK DENMARK IS FOUNDED JAK SWEDEN IS FOUNDED SAVING AND LOAN SYSTEM IS INTRODUCED HISTORY OF JAK STRONG INCREASE IN THE NUMBER OF MEMBERS, LOCAL GROUPS ARE FORMED. JAK BECOMES A BANK

  8. JAK – POLITICALLY AND RELIGIOUSLY INDEPENDENT • BUT OPEN FOR • CONVERSATIONS

  9. JAK MEMBERS BANK IS OWNED BY ITS MEMBERS ALL MEMBERS OWN EQUAL SHARES

  10. ... AS A DIFFERENCE TO OTHER BANKS SAVER OWNER BORROWERS

  11. FAIR! SAVER BORROWER

  12. UNFAIR! BORROWERS SAVER

  13. JAK’S SAVING AND LOAN SYSTEM INTEREST- FREE! POINTS!

  14. INTEREST REWARD JAK - SAVING POINTS

  15. Balance in the Saving and Loan System ”I shall contribute to the system to the same degree as I use it” How do I contribute? By saving. How do I use ít? By taking loans. Hence, I have to save as much as I borrow. To measure ”that I save as much as I borrow” we have to time into consideration: I contribute the system more if I save 10 000 KR for one year, than I do if I save 100 000 KR for one day.

  16. Saving points One positive saving point = + 1 SP = To save 1 KR in JAK for one month. (When the saving factor is 1) One negative saving point = - 1 SP = To have a debt of 1 KR for one month. Hence: ”One should save at least as much as one borrows ” means ”One should always have a positive balance of saving points in JAK (today or in the long run)”

  17. SAVING FACTOR POINTS!

  18. SAVE ON A REGULAR BASIS 1000 KR PER MONTH FOR 3 YEARS, SAVINGFACTOR 1: SINGLE DEPOSITION 10000 KR FOR 3 YEARS SAVINGFACTOR 1: SAVING POINTS SAVING POINTS UNSURE? - CALL!

  19. LOAN A LARGER PRESAVING GIVES MORE POINTS. MORE POINTS GIVES A SMALLER TIED SAVING

  20. kr Saving The saving is contractual and equal in size to the instalment, if no money has been saved prior to the loan. + Saving points Tid - Saving points Amortization

  21. MEMBER ABILITY TO PAY WE HAVE DONE A CREDIT RATING, AND EVERYTHING IS PERFECTLY IN ORDER. SECURITY

  22. SAVE BORROW DEPOSIT 100 000 KR TO BE REPAID OVER 10 YEARS 6% OF THE LOAN = 6000 KR THE MORE, THE BETTER COST ESTIMATION

  23. YOU CALCULATE 1.5% OF THE LOAN FOR EACH YEAR OF THE CONTRACT. SO FOR A LOAN OF 100 000 KR OVER 10 YEARS: HOW DO YOU CALCULATE THE LOAN FEE? TOTAL LOAN FEE=

  24. IT HAS A TOTAL COST OF 15 000 KR. WHAT WOULD THE LOAN COST ME? + 150 KR FOR THE CREDIT REPORT

  25. INTEREST-FREE LOANS COST LESS PROFIT INTEREST ADMINISTRATION ADMINISTRATION SMALL LOAN LOSSES LOAN LOSSES

  26. Interest-free Loans Cost Less . ”Normal” bank Administration costsProfit for ownersInterest to saversLoan losses JAK Members Bank Administration costs--Small loan losses

  27. TAKING THE LOAN DEPOSIT LOAN AFTER REPAYMENT

  28. Equity Deposit why? In order to have a bank licence, JAK is obliged to own a large reserve on its own (ca. 5 million euro). It is the owners of the bank (the members) who ought to make this investment. And we do. How? -Via the membership deposit: Every new JAK member deposits 200 kr. This money is a basic deposit. The following years the member pays 250 kr, not as a deposit but as a membership fee (to cover for annual admin. costs). The basic deposit stays in the bank and add to its capital reserves. - Via the equity deposit: 6% of the loan. This money goes back to the member when the loan is paid off (*). It accounts for a dynamic part of the reserves, which is passed on like a baton. (*) If JAK’s economy is in good order. It has always been..

  29. APPARTMENT! PROPERTY! SURTY! LOANS WITHOUT SECURITY UP TO 100 000 KR

  30. YOUR MONEY IS KEPT SECURE. GRYMT GOOD! STRONG DEMANDS FOR SECURITY ON LOANS. DEPOSIT GUARANTEE ON ALL SAVINGS.

  31. DEPOSITS + POSSIBLE SURPLUS LIQUID MEANS SAVINGS LOANS

  32. PROFIT COMMITIONS, ETC. ADMINISTRATION ADVERTISEMENT LOSSES TAX

  33. MEMBER RETURNS MEMBERSHIP FEE BORROWER ACTIVITIES FOR PUBLIC EDUCATION LOAN FEE TAX

  34. TWO DIFFERENT KINDS OF LOANS THE JAK-LOAN COST 130 KR. EVERY MONTH I PAY OFF 208 KR AND SAVE 208 KR. IN TWO YEARS I WILL HAVE 5000 KR ON MY BANK ACCOUNT. THE SMALLEST POSSIBLE JAK-LOAN: PUH! I PASSED THROUGH THIS TIME! SMS-LOAN: REPAYMENT PERIOD: 2 YEARS REPAYMENT PERIOD: 1 MONTH

  35. WHAT RELATION DO YOU HAVE TO YOUR BANK?

  36. THE ORGANIZATION OF JAK MEMBERS BANK

  37. THE PUPOSE OF THE ASSOCIATION: JUSTICE FREEDOM OF THOUGHT NON-PROIT EFFORTS

  38. Layman Auditor ExternalAuditor Ethics Councel Election Committee Committee Internal Auditor EditorG&G Resp. Publisher G&G CEO Banking Service Idea/Members SupportLocal Informants Staff, IT Savings/Loans, Securities, Liquidities EducationInformationMarketing JAK Members Bank Association Meeting

  39. VOLUNTARY EFFORTS INTEREST- FREE? SAVING POINTS? YEAH!

  40. JAK IS A GRASS-ROOT MOVEMENT FOCUSING ON PUBLIC EDUCATION INSTEAD OF A FEW MINUTES OF TV COMMERCIALS WE ORGANIZE SEVERAL DIFFERENT EDUCATIONAL COURSES

  41. THE MEMBERS’ OWN MAGAZINE

  42. JAK AT FACEBOOK INTERNET BANK E-SCHOOL JAK AT COUCHSURF

  43. TO LEARN MORE FURTHER EDUCATION AND SEMINARS BASIC COURSE JAK-SCHOOL INTERNSHIP LOCAL GROUPS ORGANIZE AT THE OFFICE IN SKÖVDE CENTRALLY ORGANIZED INITIAL CONTACT JAK-SCHOOL FOR YOUTH • SOMEONE TELLS • NEWPAPER ARTICLE • JAK BROCHURE • TELEPHONE CONTACT • INFORMATION MEETING • ETC.

  44. WOULD YOU LIKE TO ARRANGE A BASIC COURSE?

  45. TAKE THE STEP TO SUPPORT FAIR ECONOMY • BECOME A MEMBER • WWW.JAK.SE • BASIC COURSE

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