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.

Ca members whereof 686 are active, constituting 405 informants 24 local groups 2 bank offices 30 employees The share of the Swedish population being members of JAK Members Bank

Number of Members from 1992 and Onwards. Number of Members

Deposits and Loans ( ) Deposits Loans

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

JAK – POLITICALLY AND RELIGIOUSLY INDEPENDENT - BUT OPEN FOR CONVERSATIONS

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

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

FAIR! SAVER BORROWER

SAVER BORROWERS UNFAIR!

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

JAK - SAVING POINTS INTEREST REWARD

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 KR for one year, than I do if I save 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)” ”One should always have a positive balance of saving points in JAK (today or in the long run)”

SAVING FACTOR POINTS!

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

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

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

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

SAVEBORROWDEPOSIT THE MORE, THE BETTER 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 KR OVER 10 YEARS: TOTAL LOAN FEE=

WHAT WOULD THE LOAN COST ME? IT HAS A TOTAL COST OF KR KR FOR THE CREDIT REPORT

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

Interest-free Loans Cost Less. ”Normal” bank Administration costs Profit for owners Interest to savers Loan losses JAK Members Bank Administration costs - - Small loan losses

TAKING THE LOAN DEPOSIT LOAN AFTER REPAYMENT

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..

APPARTMENT! PROPERTY! SURTY ! LOANS WITHOUT SECURITY UP TO KR

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

DEPOSITS + POSSIBLE SURPLUS SAVINGSLOANS LIQUID MEANS

PROFIT ADMINISTRATION LOSSES TAX ADVERTISEMENT COMMITIONS, ETC.

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

SMS-LOAN: THE SMALLEST POSSIBLE JAK- LOAN: 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. PUH! I PASSED THROUGH THIS TIME! REPAYMENT PERIOD: 1 MONTH 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 Election Committee Ethics Councel Committee Internal Auditor CEO Staff, IT Banking Service Savings/Loans, Securities, Liquidities Editor G&G Resp. Publisher G&G Idea/Members Support Local Informants Education Information Marketing

VOLUNTARY EFFORTS YEAH! INTEREST- FREE? SAVING POINTS?

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

INTERNET BANK JAK AT COUCHSURF JAK AT FACEBOOK E-SCHOOL

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

WOULD YOU LIKE TO ARRANGE A BASIC COURSE?

TAKE THE STEP TO SUPPORT FAIR ECONOMY BECOME A MEMBER BASIC COURSE