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Jak Bank in Sweden has a strange but brilliant banking system.
This is a bank that you own! You own shares in the bank via membership.
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 35,000 (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 it
Originally posted by celticniall
As far as I know we have similar in Ireland as well, they are not banks as such here, but "Credit Unions".
Seems they work on a similar basis. Elected board/shares/dividends/etc