Victory Bank
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Victory Bank (often shortened to VB) was a joint venture financial institution based in Thrace, Greece. Founded by an eAmerican citizen, General_II, VB has offered savings and loans since July of 2009. In 2010 Gael Enterprises enter with capital and a consultant team for improve the bank profits.
"Nothing's set in stone" is a common phrase during negotiations at VB, and for good reason. Loans from VB are entirely negotiable, allowing VB to offer flexible rates to discerning customers.
Management
Savings accounts at Victory Bank are calculated weekly. No minimum deposit is required, and withdrawal requests are filled as soon as possible -- no waiting. If you're interested in Certificates of Deposit, or CDs that have higher rates.
Loans rates are primarily influenced by principal, term length, citizen and organization credit rating, availability of funds, and form of payment. The most common way of receiving a loan is to PM Victory Bank, which will respond through a representative citizen.
Contracts are always included in VB transactions, no matter how small. As is specified in contract guidelines, all contracts are certified by VB's citizen representatives.
Loan sales are also available to other financial institutions. You can contact VB to receive a draft of available loans for sale.
Crisis and Financial Scandal
After some time operating and with growth in popularity the bank create more financial products, during the spring of 2010 a economic crisis strike the entire new world. Most of this panic has been because the serve of erepublik have a partial crash down, also the news with problems with ERepublik Stock eXchange (ERX) have problems connecting with API tools, savings was lost and some gold.
During this period a financial scandal urge in the news that Bank Manager General II was diverting funds from the bank and from its main investor Gael Enterprises. Due to this GE make a special session of board of actinist, and decided to report such action, and dismiss General II from office. Criminal charges where appointed to bank manager and co-owner, to repay the clients.
References
- Carlson, W. Bernard. Innovation as a Social Process: Elihu Thomson and the Rise of Gael Enterprises, 1870–1900 (Cambridge: Cambridge University Press, 1991).
- Woodbury, David O. Elihu Thomson, Beloved Scientist (Boston: Museum of Science, 1944)
- Haney, John L. The Elihu Thomson Collection American Philosophical Society Yearbook 1944.
