Helping families implement The Family Bank
We provide mentors with tools to foster stewardship and enterprise in the rising generation.
Our services for families
Family Bank Set-Up
Our agents meet with you to introduce you to the family bank. Then we learn about your goals and needs for your family bank. From there, we develop a custom plan to support you in creating your bank. We transition your bank from an idea to reality by assisting you in creating trust language, by training your board members, and by institute a loan servicing system.
Values Engagement
We make introducing your family to The Family Bank a smooth process by creating a custom plan with messages for each member of the family based on their needs and concerns. Our plan has a timeline of conversations to simplify the sharing of information. We also offer a Family Bank Website to house a founder biography and the tools and templates your family needs to use the bank.
Custom Communications
We create customized values encounter plans to help you engage the rising generation with values like hard work, thrift, gratitude, and integrity. The plans are customized to the interests and needs of the children and teenagers in your family. We coach you and the adults in your family to become effective inter-generational mentors.
A Family Bank is . . .
A Family Bank provides private loans, grants, and gifts for various needs such as paying for education, buying a home, or starting a business. Family Banks are run by a board of trained family members who implement trust guidance on loans and gifts, and offer educational trainings to future board members. The Family Bank culture encourages stewardship of financial means and accountability for borrowed resources. The Family Bank helps convey values, traditions and practices to the rising generation.
Benefits of Family Banks
The Family Bank can protect your family’s wealth against internal and external threats like conflicts, lawsuits, estate taxes. It is estimated that 70% of wealthy families will lose their wealth by the second generation and 90% will lose it by the third (Nasdaq.com). Family Banks are effective in preserving generational wealth because they help families discuss money and learn sound financial principles. In contrast to the little or no guidance that comes with inheritances, Family Banks utilize inter-generational mentoring to teach the rising generation how to use their resources responsibly.