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. 36 000 members whereof686 are active, constituting

405 informants 24 local groups2 bank offices30 employees

The share of the Swedish population being members of JAK Members Bank

Number of Members from 1992 and Onwards.N

umb

er o

f M

embe

rs

Deposits and Loans (1991 -2009)

0

200

400

600

800

1000

1200

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Inlåning

Utlåning

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

HISTORY 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

INTERESTREWARD

Balance in the Balance in the Saving and Loan SystemSaving and Loan System

””I shall contribute to the system to the same degree as I I shall contribute to the system to the same degree as I use it”use it”

How do I contribute? By saving.How do I contribute? By saving.

How do I use ít? By taking loans.How do I use ít? By taking loans.

Hence, I have to save as much as I borrow.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 pointsSaving points

One positive saving point = One positive saving point = + 1 SP+ 1 SP = To save 1 KR in = To save 1 KR in JAK for one month. (When the saving factor is 1)JAK for one month. (When the saving factor is 1)

One negative saving point = One negative saving point = - 1 SP- 1 SP = To have a debt of 1 = To have a debt of 1 KR for one month.KR for one month.

Hence:Hence:

””One should save at least as much as one borrows ” One should save at least as much as one borrows ”

meansmeans

” ”One should always have a positive balance of saving One should always have a positive balance of saving points in JAK (today or in the long run)”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

SAVINGPOINTS

SINGLE DEPOSITION

10000 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

Amortiza

tion

The saving is contractual and equal in size to the instalment, if no money has been saved prior to the loan.

MEMBER

ABILITY TOPAY

SECURITY

WE HAVE DONE A CREDIT RATING, AND EVERYTHING IS PERFECTLY IN ORDER.

SAVE BORROW DEPOSIT

THE MORE, THE BETTER100 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

KR.+ 150 KR FOR THE CREDIT REPORT

PROFIT

INTER

EST

LOANLOSSES

ADMINISTRATION

ADM

INIS

TRAT

ION

SMALL LOAN LOSSES

INTEREST-FREE LOANS COST LESS

Interest-free Loans Cost LessInterest-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 Equity Deposit why?why?

In order to have a bank licence, JAK is obliged to own a large In order to have a bank licence, JAK is obliged to own a large reserve on its own (ca. 5 million euro).reserve on its own (ca. 5 million euro).

It is the owners of the bank (the members) who ought to make this It is the owners of the bank (the members) who ought to make this investment. And we do. How?investment. And we do. How?

-Via the membership deposit: Every new JAK member deposits 200 -Via the membership deposit: Every new JAK member deposits 200 kr. This money is a basic deposit. The following years the member 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 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 annual admin. costs). The basic deposit stays in the bank and add to its capital reserves.to its capital reserves.

- Via the equity deposit: - Via the equity deposit: 6% of the loan.6% of the loan. This money goes back to This money goes back to the member when the loan is paid off (*). It accounts for a dynamic the member when the loan is paid off (*). It accounts for a dynamic part of the reserves, which is passed on like a baton.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 100 000 KR

YOUR MONEY IS KEPT SECURE.

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

GRYMT GOOD!

DEPOSITS + POSSIBLE SURPLUS

SAVINGS LOANS

LIQUID

MEANS

PROFIT

ADMINISTRATION

LOSSES

TAX

AD

VER

TIS

EM

EN

T

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

ExternalAuditor

Election Committee

Ethics Councel

CommitteeInternal Auditor

CEO

Staff, IT

Banking Service

Savings/Loans, Securities, Liquidities

EditorG&G

Resp. Publisher G&G

Idea/Members Support

Local Informants

EducationInformationMarketing

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• WWW.JAK.SE• BASIC COURSE