Question 1

What is Bank Spółdzielczy w Żurominie?

Accepted Answer

Bank Spółdzielczy w Żurominie is a Polish cooperative bank (bank spółdzielczy) serving the local community of Żuromin and surrounding areas in the Masovian Voivodeship of north-central Poland. As a member of the Spółdzielcza Grupa Bankowa (SGB Bank) network, it operates as a universal bank offering retail and commercial banking services to individuals, businesses, farmers, and local government authorities. The bank focuses on meeting the financial needs of its local market while maintaining deep roots in the community it serves.

Question 2

When was Bank Spółdzielczy w Żurominie founded?

Accepted Answer

The bank's origins trace back to 1929 when it was established as Kasa Stefczyka, a savings and loan cooperative. The institution was founded to protect local members, primarily farmers and craftsmen, from predatory lending practices by providing affordable financial services. The cooperative operated until World War II, when it was destroyed during the German occupation.

The bank was reactivated in 1947 following the war, with a new management board and council elected at a general assembly. On June 24, 1962, the general assembly formally transformed the institution into Bank Spółdzielczy (Cooperative Bank), marking its evolution into a full-service banking institution.

Question 3

Where is Bank Spółdzielczy w Żurominie headquartered?

Accepted Answer

The bank is headquartered in Żuromin, a town in the Masovian Voivodeship, approximately 120 kilometers northwest of Warsaw, Poland.

Question 4

Where does Bank Spółdzielczy w Żurominie operate?

Accepted Answer

Bank Spółdzielczy w Żurominie operates primarily in Żuromin County within the Masovian Voivodeship. Following a significant expansion in October 2000, the bank merged with two neighboring cooperative banks in Kuczbork and Lipowiec, which became branch locations. This merger strengthened the bank's capital position and extended its operational territory across the local region, enabling it to serve a broader area of the north-central Masovian countryside.

Question 5

What services does Bank Spółdzielczy w Żurominie offer?

Accepted Answer

As a universal cooperative bank within the SGB network, Bank Spółdzielczy w Żurominie offers a comprehensive range of banking products and services including:

Retail Banking: Personal current accounts (including specialized accounts for different age groups through SGB Junior and youth offerings), savings accounts, time deposits, debit and credit cards, and consumer loans.

Mortgage Services: Housing loans and mortgage products, including government-subsidized programs.

Business Banking: Commercial accounts, business loans, investment financing, and services for agricultural enterprises and local government authorities.

Digital Services: Access to SGB Mobile application for mobile banking, SGB24 internet banking platform, and modern payment solutions including BLIK and contactless payments through Visa mobile solutions.

Insurance Products: Various insurance offerings through the SGB network's specialized subsidiaries.

Question 6

What makes Bank Spółdzielczy w Żurominie unique?

Accepted Answer

Bank Spółdzielczy w Żurominie distinguishes itself through its deep commitment to local community development and its century-long heritage of cooperative banking. The bank celebrates over 90 years of serving the Żuromin region, with roots dating back to 1929.

Unlike commercial banks, it operates on cooperative principles where profits are reinvested into the local community. The bank maintains strong relationships with local farmers, small businesses, and residents, understanding their specific needs and challenges. Its membership in the Spółdzielcza Grupa Bankowa since 2011 provides access to modern banking technology and a network of nearly 200 cooperative banks across Poland, while preserving local decision-making and Polish capital ownership.

The bank experienced its most dynamic growth after 2000 following the merger with neighboring banks, transforming from a small local institution with 3.3 million PLN in capital and 31 million PLN in total assets to a more substantial regional financial institution.

Question 7

What type of financial institution is Bank Spółdzielczy w Żurominie?

Accepted Answer

Bank Spółdzielczy w Żurominie is a bank spółdzielczy (cooperative bank), which is a distinct category of credit institution under Polish banking law. Cooperative banks in Poland have operated for over a century based on cooperative principles of mutual assistance and community benefit.

As designated by the European Banking Authority, it is classified as a credit institution (CRDCREINS) and is authorized and supervised by the Polish Financial Supervision Authority (PFSA). The bank participates in Poland's deposit guarantee scheme through the Bank Guarantee Fund (BFG), protecting deposits up to 100,000 EUR per depositor.

Cooperative banks in Poland differ from commercial banks in their ownership structure, governance model, and mission. They are owned by their members rather than shareholders, and their primary purpose is serving local community needs rather than maximizing profits. This structure allows them to maintain strong local roots while providing universal banking services comparable to larger commercial institutions.

Bank Spółdzielczy w Żurominie

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About Bank Spółdzielczy w Żurominie in Poland

Bank Spółdz­ielczy w Żurominie