The faction bank is the center for funds in a faction. All funds are donations, not taxation, because a Faction has no taxation power over its members.

The faction bank is controlled by the President and the President's appointed Treasurer. Only the President and the Treasurer have full access to the Faction Bank. Presidents and Treasurers may open and close accounts as they see fit, but there may only be a maximum of ten accounts. When a account is closed, all its funds are transferred to another account. Each individual account may have an account manager set by the Treasurer to watch over it. Thus the bank may be controlled by up to seven different people.

A Faction Bank is often used for large expensive projects like defense fleets or terraforming, which can rarely be afforded by individual members.

A Faction Bank might be considered a good example of the "Take A Penny, Leave a Penny" principle of donation.

See Also: Faction Leadership