wimp.com JAK members bank From Wikipedia, The JAK Members Bank, or JAK Medlemsbank, is a cooperative, member-owned bank based in Skovde, Sweden. JAK is an acronym for Jord Arbete Kapital in Swedish or Land Labour Capital. A membership of approximately 35000 (as of 2008) dictates the bank's policy and direction. Board of Directors is voted annually by members, who are allowed only to have one share of the bank. Similar to Islamic banking, the JAK Members Bank does not charge or pay interest on its loans (see Usury). All of the bank's activities occur outside of the capital market as its loans are financed solely by member savings. As of 2008 members saved 97 million Euros, of which 86 million are given as loans to members. Administrative and developmental costs are paid for by membership and loan fees. JAK banking is made possible by saving points system: members accumulate saving points during saving periods, they use saving points asking for a loan. The main idea is that one is allowed to take a loan for himself in the same measure he allows other people to have loans, saving into his account. For this reason - asking for a loan - earned saving points must be equal to spent saving points, in order to ensure sustainability. If a member is borrowing more saving points than he has, he is obliged to continue accumulating so-called "aftersavings" during repayment period. "Aftersavings" are a fixed quota of money that one has to save after his loan was given, in order to ...
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Find More Unsecured loans no bank account- Do You Need Unsecured Loans No Bank Account TopicsQuestion by Tony: how can i get a auto loan without having a bank account? im starting school already, i live with a friend, and i have no way to get to school. i have looked for so many places where they give auto loans, but i need a bank account and i dont have one Best answer for how can i get a auto loan without having a bank account?:
Answer by Thia Q
Try borrowing from your parents, or an auto dealership. Get a bank account if all else fails.
Answer by spifiman1
Get one, you need it anyway.
Answer by Bozema
You will need to have a bank account to get a loan.
Answer by April K
take $ 20 and open a savings account at the local bank (or whatever the minimum amount is to open an account)
Answer by *Jenny from the block*
you cannot get a loan if you don't have a bank account becasue everyone would screw the banks over, but you can get a loan if you have a co-signer, (someone with a bank account and good credit), like a relative, but make sure that you do make the payments becasue then you would ruin the co-signers credit if you miss a payment.
