The Union of Moneychangers and Pawnbrokers

The Union of Moneychangers and Pawnbrokers is a potent force within the Free City. The union members are effectively the city's bankers, lending money for trading ventures and issuing credit notes for merchants who would rather not travel with cumbersome chests and coffers of heavy coinage.

The union has members throughout the city (though in the poorer district they tend to be more pawnbrokers than moneychangers) and has several permanent representatives at the Merchants' and Traders' Union Guildhall.

Interest rates on loans vary with the risk of the venture and the relative social standing and reputation of the borrower. Members of the Merchants' and Traders' Union can normally expect to pay between 20% and 50% on top of the original loan, while other individuals could be charged in excess of 100%. Obviously, if the DM chooses to allow player characters to borrow money from the union members, he has complete freedom to impose strict limitations on the amount of the loan and to charge exorbitant interest rates. The Moneychangers do not risk money lightly and are very careful in their lending. Player characters who renege on their debts will be in serious trouble. The union has many important contacts within the city (most importantly with the Thieves' Guild) and the money to buy ad ditional help should it be required.

Credit notes issued by the union bear the union's official seal and are redeemable at 100% of face value at the stores of accredited union members. Because of this, Free City credit notes are highly prized by merchants and moneylenders in neighboring cities and states.

While the coins of Veluna, Furyondy, and Urnst are normally acceptable tender within the Free City, coinage from other states is not. The Free City's money changers will exchange foreign coin for Greyhawk luckies, orbs, nobles and plates. Coinage from most neighboring states and the city's trading partners will be exchanged at face value with the union taking a 10% commission. Coinage from distant lands is another matter. In such cases, the rate of exchange is dependent on the purity of the metal from which the coin is manufactured, and the assessment will always be in the union's favor with the union taking at least 50% of the total value.

The union also performs another important function within the city. A large number of the union's members are affiliated with the Thieves' Guild. Effectively, the union fences stolen goods and ensures that the guild's share from all thiefly activities is passed on to that guild. In return, the union's members are granted protection from thiefly depredations. The union maintains extensive ledgers and accounts of these transactions, and although the accountants may not be too scrupulous about passing on the full share to the Thieves' Guild the thieves do well enough keep them from complaining about particulars.