In the development and implementation phase of B of Joy co-op we keep this information confidential. For the current players there is too much at stake. When there is enough grass roots support we are a threat to their money making system. However, we try to be as transparent as possible. As soon as the support of volunteers, supporters, sponsors, certificate holders and participants has enough volume, we will hold a general meeting and publish this information.
 
> Update 2024. DOWNLOAD HERE the PDF-file together with the additional letter from the founder of the B of Joy co-op about the state of affairs. During the Lectures we announce that more than 15.600 people are already connected to our initiative and this in several countries. They are sympathizers (among others via social media, not taking into account Twitter followers), volunteers, supporters, donors, EMC- and Bail-free holders. For more background information go to FAQ 3.5.

It's not about the average. We welcome everybody who contributes towards helping B of Joy co-op (BoJC) to become a truly sustainable bank. If the amount to buy a certificate is too high, it is also possible to become a BoJC supporter for as little as 25 euro.

Yes, your data is fully protected. We take care with your data and share no information with third parties.

One of the conditions for the application of an Internet bank license is that, depending on the exchange rate at that time, a cash amount of 1.2 million euro is available as coverage (equity) for the start of the bank. Your money will be used therefore as equity for a solid funding of the bank and stays as such, under the supervision of B of Joy co-op.

In that case, the money will be, after deduction of the costs incurred, used by the United People Foundation to apply for partial bank permits with the AFM and DNB. With these permits we will, via the cooperative, still be able to offer financial services to all supporters and participants. To be able to create checking and savings accounts (demand deposits) permits are obligatory. The remainder of the money stays within the cooperative, of which you are a part owner, and if you desire, a member for the first year.

These Member Certificates are, as the name says, everlasting. This way of issue is the only way possible in the Netherlands, for participations under 100.000 euro. This way of funding the cooperative has been prepared in consultation with our fiscal law team. All other types of issuing certificates have a license obligation which is very costly and time consuming. The Member Certificates are numbered, are registered by name, they have a lifelong ownership but can, on death, be transferred to your rightful heirs. Reselling certificates to the United People Foundation is therefore not possible.

Once B of Joy co-op, as a full-reserve cooperative community bank (under formation), has got an internet bank license, it will start working as a savings and investment bank. B of Joy co-op does not work with interest. The activities of the bank are cost-effective and revenue is generated. The revenues are paid out annually to the holders of the certificates. We call these returns on investment F.E.E.S, because the returns of the activities, in addition to Financial benefits, also have Ecological, Emotional and Social benefits. These core values contribute to the higher goals of B of Joy co-op.

You can buy member certificates as often as you want. This does not affect your voting rights. You always have one single vote within the cooperative. If there are changes in the issuance policy of member certificates, we'll inform you by e-mail, newsletter and/or we’ll announce it on our websites.

For the purchase of the B of Joy co-op Member Certificates one must be 18 years of age or older. However, Member Certificates can be donated to third parties of all ages. The purchase form with ALL PERSONAL DATA is to be completed concerning the individual to whom the Member Certificates are to be donated/issued.

ATTENTION: If you already participate in the B of Joy co-op and have your own UPF account, you can NOT USE these for donations to third parties. You will then have to create a new USERNAME and an E-MAIL ADDRESS yourself. Click here to create a free email account quickly and easily.
 
You will receive a payment confirmation and all other information on the new e-mail account in order to be able to log in to United People Foundation (UPF) from now on. Finally: The payment of the Member Certificates is of course made on behalf of the donor's bank account. Good luck with the donations!

Or does only the limit of about 1.2 million euro matter for obtaining the banking license? For B of Joy co-op, it is important to have at least 10,000 certificate holders at the start. It forms the critical mass and the necessary base for the cooperative. The more certificate holders have joined, the more powerful the changes will be. To apply for the banking license it is not necessary to reach the number of 10,000 certificate holders. The amount of 1.2 million, however, is of crucial importance.

No, 'Eternal Membership Certificate' (EMC) Holders are joint proprietors and shareholders of the bank's own property. A return will be remitted yearly. EMC-holders are not obliged to membership. However, if an EMC-holder (active) wants to participate in the cooperation society and in the General Member Meeting (GMM), one has to become an actual member. Please refer to webpage concerning the Eternal Member Certificates. The role of the partners resides in the fact that they offer a contribution in the development of the application for a banking license and this without becoming an actual member. By way of thanks for their contribution, and if they wish, they can become a free member for the first year of the B of Joy co-op as soon as the bank is operational. Read more on the 'Supporters' page under the chapter "Realization of the banking license."

Once you made the choice to participate as an EMZ holder of B of Joy co-op, you end up on this website: Become an Eternal Membership Certificate Holder.  A Cooperative Association (CA) normally issues the so-called Member Certificates to its participants who become co-owners. This is also the case with B of Joy co-op, a CA in formation. Whether these Members participate actively or passively does not play a role in this.

With an active membership you usually pay an annual contribution to the CA. As an active member you can then participate in the General Members Meeting (GMM) and all the facilities that the CA makes available. In case of B of Joy co-op this concerns -  among other things - obtaining a bank card and bank account. All participants in the B of Joy co-op CA in formation are therefore referred to as members in all communications. This also applies to the purchased certificates. Also read: FAQ 2.9.1.

The United People Foundation (UPF) is a foundation which is registered with the Chamber of Commerce under number 56595220.

Click on: https://bofjoy.net/faq.html and read more.