Question 1

What is Raiffeisen Bank?

Accepted Answer

Raiffeisen Bank is a regional cooperative bank (Genossenschaft) operating in the Tyrol region of Austria. It serves the municipalities of Ehrwald, Lermoos, and Biberwier in the Außerfern district, providing comprehensive retail and business banking services to individuals, small businesses, and SMEs.

As a member of the Raiffeisen Banking Group, Austria's second-largest banking group, the bank combines local community focus with access to a nationwide financial network. With total assets of approximately €239 million as of 2023, it represents a well-established regional institution deeply embedded in the local Tyrolean mountain communities.

Question 2

When was Raiffeisen Bank founded?

Accepted Answer

Raiffeisen Bank was founded in 1899, making it one of the early adopters of the cooperative banking model in Austria. The bank was established following the Raiffeisen cooperative principles developed by Friedrich Wilhelm Raiffeisen in Germany.

The first Raiffeisen bank in Austria was founded in 1886 in Mühldorf, and by the late 19th century, hundreds of Raiffeisen banks were being established across Austria to provide accessible financial services to farmers, craftsmen, and rural communities. The Ehrwald-Lermoos-Biberwier bank emerged during this period of cooperative banking expansion to serve the Außerfern region's agricultural and tourism-based economy.

Question 3

Where is Raiffeisen Bank headquartered?

Accepted Answer

Raiffeisen Bank is headquartered in Ehrwald, Austria, a mountain town in the Tyrol region. The main branch is located at Kirchplatz 31, 6632 Ehrwald.

Question 4

Where does Raiffeisen Bank operate?

Accepted Answer

Raiffeisen Bank operates in the Außerfern district of Tyrol, specifically serving the municipalities of Ehrwald, Lermoos, and Biberwier. This area is located in the western part of Austria near the German border, in the heart of the Zugspitze mountain region.

The bank maintains multiple branch locations across these communities, providing both in-person banking services and convenient ATM access throughout its service area. The region is known for its tourism industry and alpine agriculture, which the bank actively supports.

Question 5

What services does Raiffeisen Bank offer?

Accepted Answer

Raiffeisen Bank offers a comprehensive range of retail and business banking services, including:

Personal Banking: Current accounts, savings accounts, time deposits (with rates up to 2%), debit cards, credit cards, consumer loans, car loans, and mortgage loans.

Business Banking: Business accounts, business payment cards, business loans, and financial services tailored to SMEs and self-employed professionals.

Digital Services: Online banking platforms, mobile banking applications, 24/7 account access, and contactless payment technology (NFC). The bank's ATMs feature barrier-free access, voice output, and multilingual support.

Additional Services: Investment products through the Raiffeisen network, insurance products, pension planning, and wealth management. The bank also offers foreign exchange services and mobile phone card recharge facilities.

Question 6

What makes Raiffeisen Bank unique?

Accepted Answer

Raiffeisen Bank stands out for its deep roots in the local alpine community and cooperative ownership structure. As a Genossenschaft (cooperative), the bank is owned by its members, who participate in democratic decision-making and share in the institution's success.

The bank demonstrates strong financial performance with a 1.10% return on assets in 2023, ranking it among the most profitable regional banks in Austria. Its commitment to the local tourism and agricultural sectors sets it apart from larger urban banks.

With over 125 years of continuous service to the Außerfern region, the bank has weathered numerous economic cycles while maintaining its community-focused mission. Its membership in Austria's deposit guarantee scheme (Einlagensicherung AUSTRIA) provides deposit protection up to €100,000 per customer.

Question 7

What type of financial institution is Raiffeisen Bank?

Accepted Answer

Raiffeisen Bank is a Genossenschaft (cooperative credit institution), which is a common legal form for community-based banks in Austria. This structure is specifically designed for financial cooperatives where members are both customers and co-owners.

As a registered cooperative with limited liability (eingetragene Genossenschaft, eGen), the bank operates under Austria's cooperative law, with governance through member representatives, a board of directors, and a supervisory board. This cooperative model emphasizes local ownership, democratic control, and the principle of "what one cannot achieve alone, many can achieve together."

Raiffeisen Bank

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About Raiffeisen Bank in Austria