Aequitas Financial Services

Providing banking services without the usurers. The Aequitas Financial Services (AFS) syndicate provides means to accomplish everything usually requiring a bank, but without the unjust usury. In order to protect against unscrupulous borrowers and thieves, membership is only available with sponsorship by other members, and only within the local area. AFS allies itself with similar institutions in order to guard against local catastrophes.

Business Investment

Business investments will constitute the cornerstone of AFS. Rather than making loans to businesses, AFS will invest in the businesses, becoming part-owner. AFS will thus be due a portion of the profits made by the businesses. In order to ensure a greater success rate among AFS-owned business ventures, AFS will require and provide accountants and lawyers to ensure proper operation of the businesses. Because poor money-management is found to be a significant cause of many small business failures, AFS will work to ensure that its businesses operate according to sound and prudent management.

As an investment, AFS small businesses will not be burdened with monthly loan payments consisting largely of interest. AFS will be able to stay with the business until it grows to maturity. AFS investment will be a significantly more attractive alternative to traditional small business loans.

Real Estate Investment

AFS will invest in real estate, both commercial and residential, both for the good of the renters and for the profit of the syndicate. AFS will enter into joint-ownership agreements with those intending to rent the property, and will allow the renter to purchase the property in increments. So long as AFS owns a share in the property, the renter will pay rent on the property, being refunded a portion in proportion to ownership. Should a joint-owner be unable to pay rent and sadly be evicted, the joint-owner retains ownership, and receives proportional rent after back-rent is paid.

This scheme protects home-owners from the constant demand of mortgage payments and the onerous obligation of paying back a loan for 20 or more years. As the joint-owner is able to, he may build equity in his house. When income is scarce, he is not obligated to pay more or go further into debt, and may simply pay rent, with the protections that come with being a renter.

Equipment Investment

While not as good of investments as businesses and real estate, equipment investment allows syndicate members to purchase a portion expensive equipment, such as personal vehicles or large appliances, and rent the remaining share from AFS. The rent will be proportional to the value of the equipment, thus depreciating over time just as the value of the equipment depreciates.

Share-Holding Members

Members of the AFS syndicate invest in the syndicate and receive current-value shares in the business operations of AFS. These shares increase or decrease in value in proportion to the value of the business, real estate, and equipement investments of AFS. AFS shares also pay dividends or require dues as required by the operating expenses of the syndicate.

Safe Deposit Boxes

As a minor banking service, AFS will rent safe deposit boxes. The safe will be required not only to store documents and held cash, but also for the precious metal reserves in which AFS keeps excess wealth which is not invested in businesses, real estate, or equipment.

Money Transfers

Electric transfers, checks, and credit/debit card services will be provided to members. These services will only be free if operating expenses are low enough to be absorbed by the syndicate. The credit service of the AFS works like the classic American Express, where monthly payments in full are required. If payment is not received, the card will be put on hold, but no interest will be charged.

Emergency Loans

Interest-free loans in case of emergency will be available to members. Members can then request emergency loans to pay for such things as medical expenses, vehicle repair, and house repair. Access to such emergency loans can replace insurance. Members who desire access to emergency loans must invest dues in the emergency loan fund, where paid dues determine the amount of emergency loans available to the member. These dues are not accessible to the member except with advance notice. All emergency loans must be paid back, regardless of paid dues. Accumulated dues are paid out upon the member's death in place of life insurance. Alternatively, the accumulated dues may be passed on to survivors for their benefit.

Educational Loans

Educational loans come from a charitable fund contributed to by members and by the AFS syndicate collectively. A small portion of the syndicates profits are placed in the educational loan fund. All educational loans must be repaid in full, but do not charge any interest. As such, the total value of the fund only rises. Available funds drop whenever a loan is given to a member or a member's child, and thus timely repayment is strongly encouraged. If deemed prudent, the loan fund will be invested in AFS shares, and the dividends invested back into the loan fund.

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