6.3 The General Savings and Credit Bank (Samspar

56.8 years. Of the 12 members in all, there are 4 Pastors, 1 business man, 3 managers, 1 engineer, 1 doctor, 1 gardener, 1 factory owner.

6.3 The General Savings and Credit Bank (Samspar)

(Only for the years 1950–52 and a limited part of 1953 have I been able to take part of the minutes.) The proposal ‛to rearrange a credit fund mainly for the people within the Pentecostal Movement‛ was presented by Pethrus during the Nyhem week in June 1950. At the constitutional meeting in 1951, Pethrus says, when the question was raised at the Nyhem week, it had ‛aroused a tremendous interest‛ .

92

The meeting mentioned above had been preceded by a gathering in Stockholm in the autumn of 1950 consisting of 33 interested individuals of whom 23 were Pastors. At that time a committee was elected with the mandate to further work on the question. 93 And in September 1951 they were ready to constitute themselves into an economical association and accept the name ‚Allmänna Spar- and Kreditkassan förening u.p.a. ‛ and in the statutes accepted at the same time it states that the objective of the association should be to ‛give economical assistance in the form of loans and so forth to members and other physical and juridical persons and engage in enterprises connected with that purpose for the benefit of the interest of the members.‛ Membership is open for both ‛physical and juridical persons.‛ Applications are ‛proved by the board.‛ Membership in the Swedish Pentecostal Movement is not taken for granted.

The influence of the members over the work can be exerted at the yearly general meeting. Extra meetings can be held when needed for certain purposes. Members have ‛one vote for every fully paid contribution‛ Vote by proxy is acceptable. Nobody however is allowed in ‛his own or others interests or others part, exert his vote for more than one hundredth (1/100) of the total number of the represented investments.‛

The board is to consist of 9 members at the most and 5 members at the least. The period for mandate is two years. A retiring member may

_________________ 92 Administrative reports, ‘Allmänna Spar- & Kreditkassan’, 1953. – Minutes of meetings, ’Allmänna Spar- & Kreditkassan’, inaugural meeting, 5.9.51. 93 Minutes of meetings, ’Allmänna Spar- & Kreditkassan’, preliminary meeting 6.9.50.