Lex-El
An Honest Man
Corporation Name: First Tionese Credit Union
Headquarters: The Tion Trade Nexus
Locations: The Tion Trade Nexus, Muunilinst
Operations: General banking functions: storing of credits, withdrawals, savings accounts, money management, mortgages, auto/ship financing, personal loans, business loans.
Rationale: Cade Lee lost his business during the aftermath of the rapture. To the general public Blas-Tech was bought out after he disappeared. This exercised an option in his own salary flooding his accounts with his retirement funds, 401k pension, as well as exercising his royalty rights for all his designs. This money added to his sizeable fortune as the largest weapons CEO in the galaxy made him one of he most wealthy individuals in the universe.
So he saw an opening for a new business upon his return, one that he wouldn't be involved with publicly. Hiring a few of his top accountants, he also sent a head-hunting firm out for the top banking executives in the galaxy. Once he had assembled a proxy board of directors, he channeled a sizeable investment for the start up and had the money tied up under various dummy corporation names so his involvement was unknown. To help cover any expenses and lower the cost, he sought an investment from [member="Gerion Ardik"] that gave the Umbaran a 15% share in the company. With the funds situated, they devised a market to begin their new banking business.
They chose the Tion Cluster to be in the heart of trades and The First Tionese Credit Union was born.
Tier: 2
Description: The First Tionese Credit Union is the bank of the future for the Tion Trade Center as well as Muunlinst. Built on the premise of doing business with everyone and anyone, they are loyal to no faction. The only government involvement they have is getting their funds insured to protect them and those who use the bank. A simple application process is expected of each customer, be they a business or an individual. If a customer is of a less than reputable nature, they have the right to not do business or be very discreet in their dealings.
While simple banking is a day to day part of their business, their true profits come from loans. Anything from a blaster rifle, all the way to a massive ship can be financed if the client in question is approved. Loans are also available for personal items, homes, bases. Basically if it can be purchased, they will finance it within reason. Interest rates fluctuate between 0% all the way to subprime lending rates of 42% depending on the credit of the client. Money management and investment advice are services offered as well. Small businesses can receive their start up funds from the Credit Union, as well as businesses needing funds to grow or expand their products or locations.
A secret part of the business is the collections agency, which is solely tasked with recovering assets and collateral when payment isn't received. Auctions are held to sell off these assets to recoup profits, and strict assessments are done before loans are given to make sure the bank doesn't lose money in these deals. Heavy security forces, and the newest anti- theft devices are employed at all branches to protect assets.
With an eye for expansion, and situated in the trade nexus, it is only a matter of time before The First Tionese Credit Union is the only name people know in banking.
Subsidiaries: n/a
Development Threads: Here, and here.
