Question 1

What is BCC La Riscossa di Regalbuto?

Accepted Answer

BCC La Riscossa di Regalbuto is a cooperative credit bank (Banca di Credito Cooperativo) based in Sicily, Italy. As a mutual, not-for-profit organization, it serves local residents, businesses, and members in the provinces of Enna, Catania, Siracusa, and Messina. The bank ranks as the 232nd largest bank in Italy by total assets, with approximately €511.62 million in assets and 67 employees as of 2023.

The institution is a member of the Cassa Centrale Banca Cooperative Banking Group, which coordinates and supports the development of local cooperative banks across Italy. It participates in the Italian Depositors' Guarantee Fund, protecting deposits up to €100,000 per depositor.

Question 2

When was BCC La Riscossa di Regalbuto founded?

Accepted Answer

BCC La Riscossa di Regalbuto was founded on November 29, 1922, as Cassa Agraria La Riscossa di Regalbuto. It was established by veterans of World War I from the town of Regalbuto, a community in the Sicilian interior with approximately 15,000 residents at the time.

The founders were farmers seeking to liberate themselves from usury and the oppression of large landowners. The bank's name, "La Riscossa" (meaning "The Redemption"), is an acronym of the phrase: "Lavoriamo Alacremente Risollevando I Soldati Che Operarono Senza Sperare Allori" ("We Work Diligently to Uplift the Soldiers Who Served Without Expecting Laurels"). This name honored the patriotic commitment of Regalbuto residents who served in the trenches during WWI.

In 1939, the bank changed its name to Cassa Rurale ed Artigiana La Riscossa di Regalbuto when artisans joined the membership. In 1994, it adopted its current name when it officially joined the Italian Cooperative Credit Movement (Movimento del Credito Cooperativo).

Question 3

Where is BCC La Riscossa di Regalbuto headquartered?

Accepted Answer

The bank is headquartered in Regalbuto, a town in the Province of Enna, Sicily, Italy. The legal headquarters and main office are located at Via Monsignor Vito Pernicone, 1, 94017 Regalbuto (EN).

Question 4

Where does BCC La Riscossa di Regalbuto operate?

Accepted Answer

BCC La Riscossa di Regalbuto operates throughout eastern Sicily with 19 branches across four provinces. Its operational territory includes:

Province of Enna: Regalbuto (headquarters), Agira, Gagliano Castelferrato, Catenanuova, and Nissoria.

Province of Catania: Randazzo and surrounding areas.

Province of Siracusa: Siracusa city.

Province of Messina: Messina, Milazzo, and Pace del Mela.

The bank's territorial expansion has been supported by merger processes with smaller cooperative credit institutions over several decades, including incorporations in Nissoria (1973), Randazzo (1977), Pace del Mela (1997), Siracusa (2014), Messina (2017), and Milazzo (2018). In 2017, the bank incorporated BCC Antonello da Messina, further strengthening its presence in the Messina area.

Question 5

What services does BCC La Riscossa di Regalbuto offer?

Accepted Answer

As a full-service cooperative bank, BCC La Riscossa di Regalbuto provides a comprehensive range of banking and insurance products, including:

Retail Banking: Current accounts, savings accounts, and cash management services for individuals and families.

Lending Services: Mortgage loans, consumer credit, personal loans, and financing for small and medium-sized enterprises (SMEs). As a cooperative bank, at least 50% of its loans must be provided to members.

Payment Services: Domestic and international money transfers, SEPA payments, bill payments, tax payments, and mobile phone recharges.

Investment and Savings Products: Securities management, wealth management, and investment advisory services.

Insurance Products: The bank is registered in the Single Register of Insurance Intermediaries (Section D, number D000088875) and offers various insurance products to its members.

Digital Banking: Through the Inbank platform (provided by Cassa Centrale Banca), customers can access online banking services via desktop and mobile app, allowing them to manage accounts, make payments, recharge prepaid cards, and conduct securities transactions autonomously and securely.

Question 6

What makes BCC La Riscossa di Regalbuto unique?

Accepted Answer

Historical Mission and Name: The bank's name commemorates WWI veterans and embodies a redemptive mission to support local communities. This historical foundation continues to guide its cooperative values and commitment to territorial development.

Cooperative and Mutual Structure: As a cooperative bank with prevalent mutual purpose, BCC La Riscossa operates without seeking private profit. Members participate democratically with one vote per person regardless of share ownership. At least 70% of annual net profits are allocated to indivisible reserves, and 3% is mandated by law to mutual funds supporting cooperative development.

Geographic Localism: The bank serves exclusively residents, businesses, and organizations within its defined territorial area in eastern Sicily. 100% of its members belong to the territory where it operates, and at least 95% of loans must be provided to enterprises, households, and associations in this area.

Resilience in Challenging Territory: Despite operating in areas of Sicily characterized by limited economic development and demographic contraction, the bank has maintained its mission of supporting local populations and has successfully expanded its presence through strategic mergers.

Part of Cassa Centrale Cooperative Banking Group: Since 2017, the bank has been a member of the Gruppo Bancario Cooperativo Cassa Centrale Banca, which provides coordination, efficiency improvements, and a cohesion agreement ensuring group support while preserving the bank's local autonomy and cooperative character.

Question 7

What type of financial institution is BCC La Riscossa di Regalbuto?

Accepted Answer

BCC La Riscossa di Regalbuto is a Banca di Credito Cooperativo (Cooperative Credit Bank), which is a specific type of financial institution recognized under Italian banking law (Articles 33-37-ter of the Consolidated Banking Act).

This institutional type is characterized by its cooperative legal structure (società cooperativa), mutual purpose, and territorial focus. Italian BCCs are the equivalent of rural cooperative banks established throughout Europe in the late 19th century, following models developed by Friedrich Wilhelm Raiffeisen in Germany.

As a credit institution (CRDCREINS) under European Banking Authority classification, it holds a full banking license and is supervised by the European Central Bank (ECB) and the Bank of Italy. It is registered in the National Register of Banks (Albo delle Banche) under number 1679 and participates in the Italian deposit guarantee scheme (Fondo di Garanzia dei Depositanti del Credito Cooperativo).

Question 8

How does membership work at BCC La Riscossa di Regalbuto?

Accepted Answer

To become a member of BCC La Riscossa di Regalbuto, individuals or entities must reside, have their registered office, or operate with continuity in the bank's territorial area of competence. Membership is open to natural persons and legal entities that meet this territorial requirement.

Members exercise democratic control through the principle of "one member, one vote" (voto capitario), regardless of the number of shares held. This ensures equal participation in the bank's governance, with all members entitled to be elected to the Board of Directors.

The bank operates according to the prevalent mutuality principle, meaning it must provide at least 50% of its loans to members. This structure prioritizes serving member needs over maximizing profits, reinforcing the mutual and cooperative nature of the institution.

Question 9

What is BCC La Riscossa di Regalbuto's role in the local community?

Accepted Answer

BCC La Riscossa di Regalbuto plays a vital role in supporting local economic and social development in eastern Sicily. The bank actively promotes the moral, cultural, and economic improvement of its members and local communities, consistent with the Charter of Values of Italian Cooperative Credit.

Beyond traditional banking services, the institution allocates resources to charitable activities and community initiatives. In accordance with cooperative banking regulations, approximately 88% of profits are allocated to indivisible reserves, 7% to charity and mutual initiatives, and 3% to mutual funds that support cooperative development projects in the territory.

The bank's commitment extends to maintaining a physical presence in municipalities where it may be the only banking institution, ensuring access to financial services for residents in areas experiencing economic challenges and demographic decline. This dedication to territorial rootedness exemplifies the geo-circular finance model of Italian cooperative banking.

Question 10

What banking group does BCC La Riscossa di Regalbuto belong to?

Accepted Answer

BCC La Riscossa di Regalbuto has been a member of the Gruppo Bancario Cooperativo Cassa Centrale Banca - Credito Cooperativo Italiano since 2017. This cooperative banking group, which became fully operational on January 1, 2019, is one of two major cooperative banking groups in Italy (the other being BCC Iccrea Group).

The Cassa Centrale Banca group brings together 77 cooperative credit banks across Italy under a model that combines local autonomy with centralized coordination. The parent company, Cassa Centrale Banca (headquartered in Trento), is majority-owned by the member BCCs themselves (at least 60% of capital) and provides coordination, direction, profitability support, efficiency improvements, and stability guarantees.

This group structure, mandated by Italian banking reform legislation in 2016, allows individual BCCs to maintain their local cooperative identity, territorial focus, and mutual governance while benefiting from enhanced financial strength, risk management, and shared services. The group operates under direct supervision by the European Central Bank.

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