Question 1

What is Raiffeisenbank Faistenau-Hintersee?

Accepted Answer

Raiffeisenbank Faistenau-Hintersee is a local cooperative bank (eingetragene Genossenschaft) serving the Faistenau and Hintersee communities in the Salzburg region of Austria. As an independent member of the Raiffeisen Banking Group Austria, it provides retail and small-business banking services to individuals, farmers, craftsmen, and local enterprises.

With total assets of approximately €104 million (2023), the bank ranks as the 377th largest bank in Austria and the 262nd largest among Raiffeisen credit cooperatives, commanding a 0.03% market share within the Raiffeisen sector. The institution maintains a strong local focus while benefiting from the resources of Austria's second-largest banking group.

Question 2

When was Raiffeisenbank Faistenau-Hintersee founded?

Accepted Answer

While the specific founding date of Raiffeisenbank Faistenau-Hintersee is not publicly available, the institution is part of Austria's broader Raiffeisen movement, which began with the establishment of the first Austrian Raiffeisen bank in 1886 in Mühldorf, near Spitz an der Donau.

The Raiffeisen cooperative banking model was inspired by Friedrich Wilhelm Raiffeisen, who founded the first cooperative bank in Germany in 1862 to combat rural poverty and provide affordable credit to farmers and craftsmen. Within ten years of the first Austrian Raiffeisen bank's establishment, over 600 Raiffeisen banks were operating across Austria, reflecting rapid adoption of the cooperative model.

Question 3

Where is Raiffeisenbank Faistenau-Hintersee headquartered?

Accepted Answer

The bank is headquartered at Dorfstraße 13 in 5324 Faistenau, in the state of Salzburg, Austria.

Question 4

Where does Raiffeisenbank Faistenau-Hintersee operate?

Accepted Answer

Raiffeisenbank Faistenau-Hintersee operates exclusively in Austria, focusing on the Faistenau and Hintersee communities within the Salzburg region. The bank serves the immediate regional market through its branch facilities, ATMs, and digital banking channels, concentrating on customers and businesses in this localized geographic area.

Question 5

What services does Raiffeisenbank Faistenau-Hintersee offer?

Accepted Answer

The bank provides a full range of retail and commercial banking services, including:

Deposit Products: Current accounts, savings accounts (offering rates up to 3.50%), and fixed-term deposits with maturities from 12 to 72 months (rates ranging from 0.01% to 3.25% depending on term).

Payment Services: Domestic and SEPA payments, debit card issuance, and credit card services.

Lending Products: Consumer loans, mortgages, and financing for local enterprises and agricultural operations.

Investment Products: Investment and insurance products offered via Raiffeisen group partners such as Raiffeisen Capital Management.

Digital Banking: Online banking platform and mobile banking app providing 24/7 account access and transaction capabilities.

Business Banking: Business accounts, commercial lending, and cash management services tailored to small and medium-sized enterprises (SMEs).

All products and services are available through the bank's branch location, ATMs, online banking system, and mobile application.

Question 6

What makes Raiffeisenbank Faistenau-Hintersee unique?

Accepted Answer

Cooperative Ownership: As an eingetragene Genossenschaft (eGen), the bank is owned by its members who participate in governance and benefit from the institution's success. Members have democratic voting rights and influence strategic decisions.

Hyper-Local Focus: Unlike larger regional or national banks, Raiffeisenbank Faistenau-Hintersee concentrates exclusively on serving the Faistenau and Hintersee communities, ensuring intimate knowledge of local economic conditions and customer needs.

Competitive Deposit Rates: The bank offers attractive savings rates (up to 3.50% on certain products), making it competitive within the Austrian market for deposit accounts.

Network Advantages: While maintaining local independence, the bank benefits from membership in the Raiffeisen Banking Group, providing access to specialized products, risk-sharing mechanisms, and institutional support.

Agricultural Heritage: Consistent with Raiffeisen tradition, the bank maintains strong ties to the agricultural sector, offering specialized financing and services for farmers and rural businesses.

Question 7

What type of financial institution is Raiffeisenbank Faistenau-Hintersee?

Accepted Answer

Raiffeisenbank Faistenau-Hintersee is classified as a Kreditinstitut (credit institution) organized as an eingetragene Genossenschaft (registered cooperative). This legal form is specific to Austrian cooperative financial institutions and represents one of the most common organizational structures for local Raiffeisen banks in Austria.

As a credit institution, the bank is subject to oversight by the Austrian Financial Market Authority (Finanzmarktaufsicht, FMA) and the Oesterreichische Nationalbank (OeNB). It participates in the Einlagensicherung Austria Ges.m.b.H (ESA) deposit guarantee scheme, protecting eligible deposits up to €100,000 per depositor in accordance with EU regulations.

The cooperative structure distinguishes it from joint-stock banks (Aktiengesellschaften) through member ownership, democratic governance principles, and a focus on serving member interests rather than maximizing shareholder returns.

Question 8

What deposit protection does Raiffeisenbank Faistenau-Hintersee provide?

Accepted Answer

Raiffeisenbank Faistenau-Hintersee participates in Austria's statutory deposit guarantee scheme administered by Einlagensicherung Austria Ges.m.b.H (ESA). This scheme protects deposits up to €100,000 per depositor, per bank, covering:
• All deposit accounts held by natural persons (individuals)
• Deposits held by legal entities (businesses and organizations)
• Both Austrian and foreign depositors

The protection applies to current accounts, savings accounts, and fixed-term deposits. In accordance with Austrian law, the Raiffeisen deposit guarantee scheme may provide supplementary coverage if other Austrian deposit schemes (the uniform ESA and Sparkassengruppe schemes) are depleted, and vice versa.

Additionally, as a member of the Raiffeisen Banking Group, the bank benefits from the group's institutional protection scheme (Österreichische Raiffeisen-Sicherungseinrichtung eGen), which became operational in November 2021 and provides preventive support to member institutions facing financial difficulties.

Raiffeisenbank Faistenau-Hintersee

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About Raiffeisenbank Faistenau-Hintersee in Austria

Raiffe­isenba­nk Faiste­nau-Hi­ntersee