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JAK Membersí Bank


JAK Members’ Bank is a co-operative bank that believes it is unethical to lend money against interest.  Since 1970, it has been operating an interest-free savings and loan system. In 1997, JAK Bank received a bank license.


JAK Bank is growing at 5 percent per annum. Currently (2012) it has about 35,000 members. In 2008, members borrowed a total sum of 86 million euro and saved 97 million. All loans are financed by deposits of members.


The administration and development costs of JAK Bank are covered by loan fees and annual membership fees. The costs equal an effective interest rate of about 2.5%.


JAK Bank offers two interest-free savings accounts:

1. The (Original) Balanced Savings Loan (best suited for individuals).

2. The (New) Support Savings & Loan Instrument (for small companies and associations).


JAK Bank prefers to grow by word-of-mouth.That’s why it has developed a marketing method through its members that is called the JAK Community Dialogue.


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Type of initiative Bank
Field of work Financial services
Date of commencement 1970
Legal form
Continent Europe
Country Sweden
City SkŲvde
One or several keywords that describe your initiative interest free banking, interest free financial services, alternative banking
Publications - International Newsletter
- Grus oh Guld (Sand and Gold), quarterly magazine
More information JAK Bank has an international network for interest free banking at

Contact person(s)


Contact information

Name JAK Membersí Bank
Address Box 216
Zip/postal code 54125
Place SkŲvde
Country Sweden
Phone +46 500 464500



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