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.

WHAT IS JAK?
HOW DOES IT
WORK?

THE PURPOSES OF JAK:

ARE TO SUPPORT
THE MEMBERS WITH
A BANKING SYSTEM
AT COST PRICE...

... AND TO SPREAD

INFORMATION ON
INTEREST-FREE
ECONOMY.

The share of the Swedish

population being
members of JAK
Members Bank

Ca. 36 000 members

whereof
686 are active, constituting
405 informants
24 local groups
2 bank offices
30 employees

Number of Members

Number of Members from 1992 and Onwards.

Deposits and Loans (1991 -2009)

Deposits
Loans

JAK DENMARK
IS FOUNDED

JAK
SWEDEN
IS
FOUNDED

STRONG INCREASE IN THE

NUMBER OF MEMBERS, LOCAL
GROUPS ARE FORMED.

JAK BECOMES
A BANK

SAVING AND LOAN

SYSTEM IS
INTRODUCED

HISTOR
Y
OF JAK

JAK POLITICALLY AND RELIGIOUSLY INDEPENDENT

- BUT OPEN FOR
CONVERSATIONS

JAK MEMBERS BANK IS OWNED BY ITS MEMBERS

ALL MEMBERS OWN EQUAL SHARES

... AS A DIFFERENCE TO OTHER BANKS

SAVER

OWNER

BORROWERS

FAIR!

SAVER

BORROWER

UNFAIR!

BORROWERS

SAVER

JAKS SAVING AND LOAN SYSTEM

INTEREST
FREE!

POINTS!

INTEREST
REWARD

JAK
- SAVING POINTS

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 t? 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.

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)

SAVING FACTOR
POINTS!

SA
REG VE O
UL A N A
100
RB
ASI
FOR 0 KR P
S
E

DE

ION
T
I
PO S

S
EAR
Y
3
SIN
OR 1:
F
KR TOR
0
0
C
100 INGFA
ING
V
SAV
SA NTS
I
PO

G LE

SAV 3 YEA R MO
NTH
IN G
R
FAC S,
TOR
1:

SAV
POI ING
NTS

UNSURE?
- CALL!

LOAN

A LARGER PRESAVING GIVES

MORE POINTS. MORE POINTS
GIVES A SMALLER TIED SAVING

kr

vin
a
S

+ Saving points

The saving is contractual and

equal in size to the
instalment, if no money has
been saved prior to the loan.

Tid

- Saving points

o
Am

tio
a
z
rti

MEMBER
ABILITY TO
PAY
SECURITY

WE HAVE DONE A CREDIT

RATING, AND EVERYTHING
IS PERFECTLY IN ORDER.

SAVE

BORROW

DEPOSIT

THE MORE, THE BETTER

100 000 KR TO BE
REPAID OVER 10 YEARS

6% OF THE LOAN
= 6000 KR

COST ESTIMATION

HOW DO YOU
CALCULATE THE
LOAN FEE?

YOU CALCULATE
1.5% OF THE LOAN
FOR EACH YEAR OF
THE CONTRACT. SO
FOR A LOAN OF 100
000 KR OVER 10
YEARS:

TOTAL LOAN FEE=

WHAT WOULD THE

LOAN COST ME?

IT HAS A TOTAL
COST OF 15 000
+ 150 KRKR.
FOR THE
CREDIT REPORT

ADM

INIS
TRA
TION

LOAN
LOSSES

AD
MI
NI
ST
RA
TI
O

IT
OF
PR

INTE
RES
T

INTEREST-FREE LOANS COST LESS

SMALL LOAN LOSSES

Interest-free Loans Cost Less

.

Normal bank

JAK Members Bank

Administration costs

Administration costs

Profit for owners

Interest to savers

Loan losses

Small loan losses

TAKING THE LOAN

DEPOSIT

LOAN

T
N
R E
TE YM
AF PA
RE

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 JAKs economy is in good order. It has always been. .

APPARTMENT!

PROPERTY!

SURTY!

LOANS WITHOUT
SECURITY UP TO 100 000
KR

YOUR MONEY IS
KEPT SECURE.

STRONG DEMANDS
FOR SECURITY ON
LOANS. GUARANTEE
DEPOSIT
ON ALL SAVINGS.

GRYMT
GOOD!

DEPOSITS +
POSSIBLE
SURPLUS

LI

SAVINGS

LOANS

ID
U
Q

ME

S
N
A

PR
O

FI
T

COMMITIONS, ETC.

ADMINISTRATION

TAX

ADVERTISEMENT

LO
SS
ES

MEMBER
RETURNS
ME
MB
E

RS
HI

PF

EE

BORROWER

ACTIVITIES FOR
PUBLIC
EDUCATION

LOAN FEE

TAX

TWO DIFFERENT KINDS OF LOANS

SMS-LOAN:

PUH! I PASSED
THROUGH THIS
TIME!

REPAYMENT
PERIOD:
1 MONTH

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 JAKLOAN:

REPAYMENT
PERIOD:

2 YEARS

WHAT
RELATION DO
YOU HAVE TO
YOUR BANK?

THE ORGANIZATION
OF JAK MEMBERS
BANK

THE PUPOSE OF THE ASSOCIATION:

FREEDOM OF THOUGHT

JUSTICE

NON-PROIT EFFORTS

JAK Members Bank

Association Meeting
Layman
Auditor

External
Auditor
Ethics
Councel

Election
Committee

Internal
Auditor

Committee

Editor
G&G

Resp.
Publisher G&G
Banking
Service

CEO

Savings/Loans,
Securities,
Liquidities

Staff, IT

Idea/Members
Support
Local
Informants
Education
Information
Marketing

VOLUNTARY EFFORTS
INTERESTFREE?

SAVING
POINTS?
YEAH!

JAK IS A GRASS-ROOT MOVEMENT

FOCUSING ON PUBLIC EDUCATION

INSTEAD OF A FEW MINUTES OF TV COMMERCIALS

WE ORGANIZE SEVERAL DIFFERENT EDUCATIONAL
COURSES

THE MEMBERS OWN MAGAZINE

JAK AT
FACEBOOK
INTERNET BANK
E-SCHOOL

JAK AT COUCHSURF

TO LEARN MORE

BASIC COURSE

FURTHER
EDUCATION
AND
SEMINARS

JAK-SCHOOL
INTERNSHIP

LOCAL GROUPS
ORGANIZE

AT THE OFFICE
IN SKVDE
CENTRALLY
ORGANIZED

INITIAL
CONTACT

SOMEONE TELLS
NEWPAPER ARTICLE
JAK BROCHURE
TELEPHONE CONTACT
INFORMATION MEETING
ETC.

JAK-SCHOOL
FOR YOUTH

WOULD YOU LIKE

TO ARRANGE A
BASIC COURSE?

TAKE THE STEP TO

SUPPORT FAIR ECONOMY
BECOME A MEMBER
WWW.JAK.SE
BASIC COURSE