JAK Medlemsbank
JAK Medlemsbank is a Swedish member-owned cooperative bank, founded in 1965, offering savings accounts, mortgages, sustainability loans, and personal loans to sustainability-oriented private members and small associations via digital channels and PSD2 open-banking infrastructure.
- Company typePrivate
- Founded1965
- HeadquartersSkövde, Sweden
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What JAK Medlemsbank does
JAK Medlemsbank is a Swedish member-owned cooperative bank founded in 1965 and headquartered in Skövde, Sweden, operating under Finansinspektionen supervision. It provides core retail banking products to individual members and to a secondary segment of companies and associations (Företag & Föreningar), including savings accounts (Sparkonto, including fixed-term deposits), mortgage loans (Bolån), sustainability loans (Hållbarhetslån) for environmentally friendly investments, savings loans (Sparlån) tied to its proprietary Sparlånesystem, and personal loans (Privatlån). The bank's primary customer segment is sustainability- and ethics-oriented private individuals seeking values-aligned banking, served through a horizontal segmentation approach rather than enterprise accounts.
The underlying technology stack is standard regulated-banking infrastructure rather than a proprietary platform: a web-based Internetbanken, a Mobilbanken mobile app, and PSD2-compliant Open Banking APIs defined per the Stet specification, which allow approved third-party providers to access payment account information and payment initiation services. The bank operates on a one-member-one-vote cooperative governance model with no external share ownership, a member ambassador program (JAK Ambassadör), regular member meetings (medlemsträffar), and an editorial content platform (Grus & Guld) used to communicate sustainability and economic perspectives to the member base.
JAK generates revenue primarily through net interest income on its loan portfolio (mortgages, sustainability loans, savings loans, personal loans) and pays interest on member deposits, supplemented by annual membership fees. Acquisition and retention are driven by a community-led and product-led motion: member referrals, ambassador recruitment, and a growing bundle of lifestyle member benefits including a 15% SJ rail discount, Sweden by Bike cycling packages, Bixia renewable electricity discounts, and Trine renewable-energy investment offers. The bank scored 96% on the Fair Finance Guide sustainability assessment — the highest among Swedish banks in human rights, biodiversity, and working conditions — which is the primary brand differentiator against conventional Swedish retail banks.
JAK Medlemsbank firmographics
Firmographics- Name
- JAK Medlemsbank
- Legal name
- JAK Medlemsbank
- Website
- https://jak.se
- Company type
- Private
- Founded year
- 1965
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- JAK Medlemsbank is a Swedish member-owned cooperative bank, founded in 1965, offering savings accounts, mortgages, sustainability loans, and personal loans to sustainability-oriented private members and small associations via digital channels and PSD2 open-banking infrastructure.
- Ownership category
- akta.pro rank
Where JAK Medlemsbank is headquartered
LocationHeadquarters
- HQ city
- Skövde
- HQ country
- Sweden
- HQ region
- Europe
Offices1 record
Markets served
JAK Medlemsbank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Interest Income from Loans: Traditional banking revenue generated from mortgage loans (bolån), sustainability loans (hållbarhetslån), savings loans (sparlån), and personal loans (privatlån). Interest rates are adjusted periodically.
- Deposit Interest: Interest paid to members on savings accounts and fixed-term deposits. The bank offers deposit guarantees and competitive savings rates.
- Membership Fees: Annual membership fees that provide access to member benefits, loan products, and participation in cooperative governance.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Pay-as-you-go | Fixed-term savings accounts with competitive interest rates |
| Usage-based | Monthly | Variable rate mortgage loans (bolån) |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
JAK Medlemsbank product offering
Product offeringCore offering
JAK Medlemsbank is a member-owned cooperative bank providing savings accounts with deposit guarantees, mortgage loans, sustainability loans, savings loans, and personal loans to Swedish private members and small businesses/associations. Service delivery is via an internet bank, mobile banking app, and PSD2 Open Banking APIs, governed by a one-member-one-vote cooperative structure.
Product overview
JAK Medlemsbank is a member-owned cooperative bank (medlemsbank) offering traditional banking products including savings accounts (Sparkonto), mortgage loans (Bolån), sustainability loans (Hållbarhetslån), savings loans (Sparlån), and personal loans (Privatlån). The bank provides digital banking services through Internetbanken (web) and Mobilbanken (mobile app). JAK distinguishes itself through member benefits including discounted electricity (via Bixia), cycling holidays (via Sweden by Bike), and train discounts (via SJ), as well as an Open Banking API platform for PSD2-compliant third-party access. The bank operates on a cooperative model where members own and govern the institution, prioritizing long-term sustainability and member benefit over profit maximization.
Differentiator
Problem solved
Functional benefit
Brands
- Grus & Guld: Grus & Guld is JAK Medlemsbank's editorial site covering sustainable and fair economics, including articles, interviews, and in-depth content about sustainability topics.
Products and services
- Sparkonto (Savings Account)
Quantifiable outcome
- 96% sustainability score on Fair Finance Guide - highest among Swedish banks in human rights, biodiversity, and working conditions
Companies that use JAK Medlemsbank
Customer profileSegments2 records
Ideal customer profiles2 records
JAK Medlemsbank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
JAK Medlemsbank partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered minor.
- Sweden by BikeminorNew member benefit partnership providing exclusive cycling packages for JAK members. Members receive access to carefully curated cycling tours with accommodation and meals included. Campaign code 'JAK' provides discount on bookings.
- SJ (Swedish Railways)minorSummer campaign partnership offering JAK members 15% discount on train travel bookings. Limited-time seasonal offer for members.
- TrineminorPartnership providing JAK members with offers on first investments through Trine platform. Trine focuses on renewable energy and climate solutions investments.
- BixiaminorElectricity provider partnership offering members discounts on electricity contracts. Bixia provides 100% renewable, locally-produced electricity without intermediaries. Partnership offers competitive pricing and sustainability-aligned electricity services to both private individuals and business members.
Scale indicators2 records
Recent moves6 records
Expansion highlights5 records
JAK Medlemsbank competitors and assessment
Company assessmentEmerging players
- Klarna: Swedish fintech incumbent now operating a regulated banking business. Represents the digital-native competitive threat to traditional Swedish deposit-takers like JAK in retail finance and consumer payments.
Direct peers
- Resurs Bank: Nordic consumer and retail finance bank offering personal loans, credit cards, and savings. Comparable as a niche Swedish competitor in retail lending and deposits.
- Marginalen Bank: Swedish niche bank providing savings accounts and personal loans to retail customers. Comparable Swedish-market competitor targeting similar retail deposit and personal-loan customers.
- Nordax Bank: Nordic niche bank focused on personal loans, mortgages, and savings. Comparable Swedish-market competitor in the niche retail-banking segment with a similar size profile to JAK.
- Triodos Bank: European sustainable/ethical bank lending only to organisations with social or environmental benefit. Closest international peer to JAK in terms of values-based positioning and sustainability-led lending focus, though not member-owned.
- Svea Bank: Nordic financial services group active in lending, savings, and payments. Comparable Nordic retail-finance competitor operating adjacent to JAK's lending and deposit products.
- Landshypotek Bank: Swedish member-owned bank (originally for agricultural members, now broader retail). Comparable as another medlemsbank with a similar cooperative governance model, deposit-taking and mortgage-lending activity in Sweden.
- Ekobanken Medlemsbank: Sweden's other member-owned cooperative ethical/sustainability bank. Closest structural and values-aligned peer to JAK, operating the same member-ownership model and targeting the same ethically minded Swedish retail customer base.
Broad incumbents
- SBAB: Swedish state-owned mortgage specialist bank. Competes with JAK directly in the Swedish bolån (mortgage) market but operates at materially greater scale across the full prime-mortgage segment.
- Handelsbanken: Major Swedish universal bank offering mortgages, savings, and corporate banking. Represents the incumbent competitive backdrop JAK faces for ethical-conscious Swedish retail customers and mortgage borrowers.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
JAK Medlemsbank social profiles
Digital presenceJAK Medlemsbank financial estimates
Financial estimateRevenue estimate
Valuation estimate
JAK Medlemsbank leadership team
Management profileNumber of profiles
Profiles2 records
JAK Medlemsbank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
JAK Medlemsbank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about JAK Medlemsbank
What does JAK Medlemsbank do?
JAK Medlemsbank is a member-owned cooperative bank providing savings accounts with deposit guarantees, mortgage loans, sustainability loans, savings loans, and personal loans to Swedish private members and small businesses/associations. Service delivery is via an internet bank, mobile banking app, and PSD2 Open Banking APIs, governed by a one-member-one-vote cooperative structure.
Is JAK Medlemsbank a public or private company?
JAK Medlemsbank is a private company. It is classified as management employee owned and is currently operating.
When was JAK Medlemsbank founded?
JAK Medlemsbank was founded in 1965. It employs 11 to 50 people.
Where is JAK Medlemsbank based?
JAK Medlemsbank is headquartered in Skövde, Sweden, in the Europe region.
How does JAK Medlemsbank make money?
Three revenue lines are on record. Interest Income from Loans are the primary driver. The others are deposit Interest and membership Fees.
Who are JAK Medlemsbank's main competitors?
Klarna is listed as an emerging player. Direct peers are Resurs Bank, Marginalen Bank, Nordax Bank, Triodos Bank, Svea Bank, Landshypotek Bank and Ekobanken Medlemsbank. Broad incumbents are SBAB and Handelsbanken.
Does JAK Medlemsbank have an API?
Yes. JAK Medlemsbank offers Open Banking APIs based on the international PSD2 standard, defined by Stet. The APIs enable third-party providers (TPP) to access payment accounts and account information services. Third-party providers must be approved by Finansinspektionen before access to payment accounts and services is granted. The bank publishes statistics on KPIs and Service Goals for APIs under PSD2, available on the Performance statistics page.