Question 1

What is Sparda-Bank Augsburg?

Accepted Answer

Sparda-Bank Augsburg is a German cooperative bank (Genossenschaftsbank) specializing in retail banking services. Based in Augsburg, Bavaria, it is one of eleven independent Sparda-Banks operating across Germany.

The bank serves customers throughout the Swabia (Schwaben) region and part of Middle Franconia (Mittelfranken) in Bavaria. With approximately 1.6 billion EUR in total assets as of 2024, Sparda-Bank Augsburg ranks as the 563rd largest bank in Germany and the 214th largest cooperative bank in the country.

Question 2

When was Sparda-Bank Augsburg founded?

Accepted Answer

Sparda-Bank Augsburg was founded on July 12, 1952, when the Sparda-Bank München opened a branch in Augsburg, which then became the independent Eisenbahn-Spar- und Darlehnskasse Augsburg eingetragene Genossenschaft mit beschränkter Haftpflicht (Railway Savings and Loan Association Augsburg).

The bank's founding came several years after World War II, when Sparda-Bank München eGmbH had reopened its Augsburg branch in 1949. On September 5, 1978, the bank changed its name to SPARDA-BANK AUGSBURG EG, and on December 29, 1989, it adopted its current name, Sparda-Bank Augsburg eG.

Question 3

Where is Sparda-Bank Augsburg headquartered?

Accepted Answer

Sparda-Bank Augsburg is headquartered in Augsburg, Bavaria, Germany.

Question 4

Where does Sparda-Bank Augsburg operate?

Accepted Answer

Sparda-Bank Augsburg operates throughout the Swabia region and parts of Middle Franconia in Bavaria. The bank maintains branches in several cities including Augsburg (main office plus three additional branches and one self-service location), Neu-Ulm, Memmingen, Kempten (Allgäu), and Lindau.

The bank also operates self-service locations in Mering, Gersthofen, and Neusäß. Following the regional principle common to all Sparda-Banks, the bank serves customers exclusively from its designated geographical business area.

Question 5

What services does Sparda-Bank Augsburg offer?

Accepted Answer

Sparda-Bank Augsburg provides a comprehensive range of retail banking services including current accounts, debit cards, credit cards, savings accounts, time deposits, consumer loans, and mortgage loans (Baufinanzierung).

The bank serves both private customers and small to medium-sized enterprises (SMEs). Digital services include online banking platforms, mobile banking applications, and telephone banking for convenient 24/7 access.

Through cooperative network partnerships, Sparda-Bank Augsburg collaborates with DZ Bank, DEVK insurance, Bausparkasse Schwäbisch Hall, and Union Investment to provide additional financial products. The bank is a member of the CashPool network, allowing customers to withdraw cash free of charge at partner bank ATMs throughout Germany.

Question 6

What makes Sparda-Bank Augsburg unique?

Accepted Answer

As a cooperative bank, Sparda-Bank Augsburg is owned by its members who purchase cooperative shares to become part-owners. This structure means the bank operates for member benefit rather than maximizing profits for external shareholders.

The bank has deep roots in the Swabian region of Bavaria and maintains a strong commitment to serving local communities. Despite being one of the smaller Sparda-Banks in terms of assets, it maintains independence and focuses on personalized service within its regional market.

Sparda-Bank Augsburg holds an AA- credit rating from Fitch, indicating very high credit quality. The bank participates in the BVR Institutssicherung protection scheme, which protects deposits beyond the statutory guarantee of 100,000 EUR per depositor.

Question 7

What type of financial institution is Sparda-Bank Augsburg?

Accepted Answer

Sparda-Bank Augsburg is a Genossenschaftsbank (cooperative bank), a specific type of credit institution under German banking law. Cooperative banks in Germany are member-owned institutions where customers become co-owners through purchasing cooperative shares.

As a Genossenschaftsbank, Sparda-Bank Augsburg is regulated by BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht) and is a member of the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR), the National Association of German Cooperative Banks. The cooperative structure emphasizes democratic governance, regional focus, and service to members rather than profit distribution to external shareholders.

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