Family bank is a term used to refer to assets that have been pooled into a "bank" by some family members (typically the older, wealthy generation), and maintained for the use and benefit of other family members (typically the younger generation). Generally, a family bank works as a lender. The contributing family members agree to the terms (the rules) that must be followed by the beneficiary family members in order to borrow from the bank. Typically, the younger generation may borrow from the bank only for certain purposes, for example to purchase a new home, to pay for education expenses, or for emergencies, and then the funds must be paid back within a certain period of time, perhaps at a low rate of interest. The contributing members create the bank with the intent that it will last into the future so that each succeeding generation can benefit from it. The family bank can be structured in different ways, but generally a trust is used.