JAK Medlemsbank
in Sweden 🇸🇪
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About JAK Medlemsbank in Sweden
JAK Medlemsbank is a cooperative credit institution based in Sweden that operates on unique interest-free banking principles. It is a member-owned financial institution that provides banking services without charging or paying interest on loans and savings.
The bank serves approximately 39,000 members (as of recent data) who collectively own and govern the institution under a democratic one-member, one-vote system. JAK stands for "Jord Arbete Kapital" (Land, Labour, Capital) in Swedish, representing the classical factors of production.