Join the Social Bank (Ofek) now! Or we can continue to pay 10 million NIS salaries to executives with an increase of 5% per year. ** We like to complain about the banking system, often rightly so, but now we have a chance to do something real about it: Join the new Social Bank that has opened up in Israel. ** A Social or Cooperative Bank is a bank operating solely for their clients and that is not just a slogan. In a Cooperative Bank the customers are the owners. There is no controlling shareholder and the bank works only for their clients. The result: Reduced fees, lower interest rates on loans, higher interest rates on deposits and more. ** Around the world it has been proven that it is possible - 95 million Americans are customers of banks working with the cooperative model. I got a chance to meet a lot of them around the globe when I was CEO of Cyota, and I can tell you that they are wonderful organizations. ** Ofeks founders have been given the green light to recruit members, and I will act as a regulator in charge of the Cooperative Societies, along with Finance Minister Yair Lapid and the Supervisor of Banks David Zaken, to allow the entry of competition into the existing companies. ** We can and should establish a social bank and now it is up to us. Our determined struggle, fighting against centralization, including our Centralization Law that we sent to the Knesset, must reach the banking industry as well. The social bank is a step in the right direction and may put Israel in the forefront of countries around the world in this field. ** Enter the site ofek.coop and join. Pictured: My meeting with the founders of the bank with the Registrar of Cooperative Societies.
Posted on: Mon, 17 Mar 2014 16:14:43 +0000
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