The First Bank of CyberCitizens, also known as the FBCC
History of the BankEdit
The FBCC was founded by CookieKing and GlikD combining their existing banks.
This bank, unlike the Bank of GlikD offers people the possibility of working within the institution while keeping most of the interest collected.
The Old Wiki, for nostalgiaEdit
The rates for deposits are 0.04% daily and compounded everyday.
The loan rates vary according to many factors. Loan rates under $500
These loan rates are the easiest to understand. The basic idea is that if you pay in the ten days following your loan, you paid only for five of those days. These loans are for smaller sums and thus have to be repaid in one transfer. The client is responsible for transfer fees until CC changes the money transfer situation.
The interest basic rate is of 5.00%daily compounded. The interest starts accumulating after five days that the transfer is initiated. It is in the best interest of the customer to pay back in ten days because of the grace period. The subsequent ten day periods WILL NOT have a grace period.
Loan rates over $500
These rates are variable depending on the time period and the frequency of your payments. Under this type of loan, you may repay the loan at your ease in instalments. The pay period length is up to the customer, but the customer MUST follow the pay periods with at most a 24 hour window for lateness. The basic rate is set at 2.85% daily compounded. Bonuses and penalties are added to this prime depending on your pay frequency and overall length of loan.
GlikD is the one who created both the algorithms and the spreadsheets used in this bank.
The Bank offers a foreign exchange service where the bank, a trusted institution, sells and buys CN and CC money. This is to reduce the chaos and the fraud from the CC forums money exchange topic. The market is open only certain days of the week due to the slots available at the moment. There are also plans to have graphs so that users can follow the evolution of the CC dollar across a time period.
The FBCC also offers a service where users can buy a share of a store. The share does not have to be a round number and the profits of the stores would be distributed among the share holders. This is to help those who are not in alliances and who cannot afford to take out a loan to buy their own store to experience the thrill of owning a business.
The Bank will also offer a betting services once the fight arenas are up. This idea also need developing on the part of CookieKing.
The FBCC has its' own boards, and applications are now done on the boards rather than via PM as was the old system with GlikD.
There are trusted users of the bank who will surely share their positive experience if you ask them.
The FBCC now has its' own university. It was acquired on the 29th of November in Paris and moved to LA. brick by brick via air transport. Université Paris Dauphine, although costly, it will leave you with a long lasting education in the arts of management and finance. The university is intended only for those well established and is located in the warm and pleasant Santa Monica area. Since our students are mostly foreign coming in for a graduate degree, the heavily rent controlled city as well as the close proximity to the superstore will prove to be very useful, if not invaluable to our students.
The FBCC has gone public on the 16th of November 2006. There were 260 shares issued at the price of $50 each. CookieKing and GlikD are shareholders as well as KonkRage1 holding 80,80, and 40 shares respectively. The current net worth of the FBCC is evaluated at $15000 as of the 29/11/06. This shows the exponential growth since the humble beginnings of the Bank of GlikD which had a total worth of $500 when it begun the 29/09/06. Many, if not all of the CC comunity is encouraged to invest in this growing company. Upon the IPO of the FBCC, there was the creation of the CCSE. The stock exchange is open to all companies looking to expand, and hopefully will be implemented in the game soon enough.
The Departure of CookieKingEdit
CookieKing, following much inactivity and disinvolvement with the bank was asked to resign. Because he was holding funds belonging to the FBCC, his shares were liquidated. Twenty remained open to new buyers, which turned out to be King Zog, and the existing shareholders were given a number of shares proportional to their stake in the company. CookieKing, having founded the FBCC forums, remains to this day as root admin, although he never logs in.
The Banking Holiday, and the FBCC saleEdit
GlikD remaining sole owner and operator of the FBCC declared a banking holiday of approximately one month from the end of December to the end of January. During that time, the accounts accumulated a reduced interest rate, and transactions were frozen for the accounts managed by Léonard and GlikD. Before the reopening of the bank, GlikD was looking for a buyer to liquidate his stock in the FBCC as well as step down from presidency. Beetlemonster accepted the buy for an undisclosed amount and has since then brought many innovations to the bank. ---
The reign of Beetlemonster, and the changes within the FBCCEdit
Beetlemonster, AKA Mr.Hunt, changed the way the bank operated by instituting couriers. These employees, paid by the act, serve as a clever way of transferring funds to and fro the game. Employee numbers have greatly increased since the days of GlikD operated FBCC. Furthermore, the interest rates were lowered to increase profitability. However, they were raised to five points above the maximum in-game rate after a change by Kevin finally settling down at 0.65% daily. Employees now have separate account interest rates from the general public with 0.2% daily. Beetlemonster also lowered the intra-bank transfer rates to encourage in-bank transfers. After a demand by GlikD, the CCSE was reopened, managed by the man who created it, on February 18th. There are currently two companies on the CCSE: FBCC (Sym: FBCC, closing: $55) and Globbo Lotto Corp. (Sym: GL, closing: $10) as well as an index stock. Companies from the game are urged to get listed so that a fully functional market can finally see the day. As for the forum appearance, Beetlemonster left it mostly intact save a few modifications in names and order. He also created more employee friendly functions and visits his bank daily.
GlikD is now employed by the FBCC, but has no fixed job description, although his title still claims he is the Chief Financial Strategist of the FBCC.