Question 1

What is Raiffeisenbank Lech am Arlberg?

Accepted Answer

Raiffeisenbank Lech am Arlberg is an independent Austrian cooperative bank headquartered in the exclusive alpine ski resort town of Lech am Arlberg, Vorarlberg. As a regional Raiffeisen credit institution (Genossenschaftsbank), the bank provides comprehensive financial services to individuals and businesses in one of Austria's most prestigious mountain destinations. The bank has developed a particularly strong Private Banking division, which has become one of its most successful business segments, serving the affluent clientele that frequents this world-renowned winter sports resort and member of the exclusive "Best of the Alps" group.

Question 2

When was Raiffeisenbank Lech am Arlberg founded?

Accepted Answer

The bank was founded on September 2, 1900, during a time of economic hardship in rural Austria. The founding assembly established the "Spar- und Darlehenskassen-Verein für die Gemeinde Lech und die Pfarre Warth, registrierte Genossenschaft mit unbeschränkter Haftung" (Savings and Loan Association for the Municipality of Lech and the Parish of Warth).

The institution was officially registered with the Imperial and Royal Commercial Court on January 31, 1901, and began operations shortly thereafter. The bank was created following the cooperative principles of Friedrich Wilhelm Raiffeisen, aimed at providing affordable credit and agricultural supplies to local farmers suffering from crop failures and economic distress.

In its early years, the bank operated from modest quarters in the apartment of Franz Schneider, the first cashier, in the "Krömer-Hüsli" building. In 1927, a dedicated bank building was constructed on municipal land, marking the institution's growing importance to the community.

Question 3

Where is Raiffeisenbank Lech am Arlberg headquartered?

Accepted Answer

The bank is headquartered in Lech, a mountain village in the Bludenz district of Vorarlberg, Austria's westernmost state. Lech am Arlberg sits at 1,450 meters above sea level in the heart of the Arlberg region.

Question 4

Where does Raiffeisenbank Lech am Arlberg operate?

Accepted Answer

The bank's market area encompasses the Tannberg district in Vorarlberg, specifically serving the communities of Lech am Arlberg, Zürs, Zug, Oberlech, Stubenbach, and the neighboring municipality of Warth.

The bank operates two branch locations: its main branch in Lech (Dorf 90, 6764 Lech) featuring 1,400 square meters of banking facilities following a 2004 renovation, and a branch in Warth that was established in 1971 and relocated to a new multi-purpose building in 2004, where it shares space with the municipal administration, police, and local tourism office.

Question 5

What services does Raiffeisenbank Lech am Arlberg offer?

Accepted Answer

Raiffeisenbank Lech am Arlberg operates as a full-service financial institution (Allfinanzinstitut) offering:

Retail Banking: Current accounts (Girokonto), savings accounts, student and youth accounts, basic accounts, debit and credit cards

Lending Services: Mortgage loans for home construction and property purchases, consumer loans for personal needs, car financing, business loans

Private Banking: Wealth management and investment advisory services for high-net-worth individuals, particularly catering to the resort's affluent international clientele

Digital Banking: Mein ELBA online banking platform and mobile app for account management, transfers, and digital document access; RaiPay mobile payment solution enabling contactless payments via smartphone; Handy-Signatur (mobile signature) activation for secure digital transactions

Investment Services: Stock trading, bonds, investment funds, certificates, and securities trading through the Schauplatz Börse platform

Additional Services: Foreign currency exchange, safe deposit boxes, day and night safes, fully accessible barrier-free banking facilities, business banking center

Question 6

What makes Raiffeisenbank Lech am Arlberg unique?

Accepted Answer

Several distinctive characteristics set this bank apart:

Private Banking Excellence: The bank's Private Banking division has become its flagship offering, serving the wealthy international clientele that includes members of European royal families and high-net-worth individuals who frequent Lech, one of Austria's most exclusive ski resorts.

Gemeinwohlbilanz Pioneer: In 2012, Raiffeisenbank Lech am Arlberg became the first bank in Austria to create a Common Good Balance Sheet (Gemeinwohlbilanz), demonstrating its commitment to measuring success beyond financial metrics. The bank continues to publish this assessment every two years.

"Lebensraum Lech" Initiative: Since 2006, the bank has invested a portion of its annual profits into sustainable regional projects through the "Aktiv rasten" (Active Rest) program, supporting the local community's development and quality of life.

Alpine Location Expertise: Operating in one of the snowiest regions in Europe and Austria's largest interconnected ski area (Ski Arlberg with 300+ km of slopes), the bank has specialized knowledge of the unique financial needs of both the international tourism industry and the local alpine community.

Comprehensive Accessibility: The bank maintains barrier-free access across all its facilities, including adapted ATMs with tactile keypads, voice guidance, and contactless NFC card recognition.

Question 7

What type of financial institution is Raiffeisenbank Lech am Arlberg?

Accepted Answer

Raiffeisenbank Lech am Arlberg is a Genossenschaftsbank (cooperative bank) and specifically a Raiffeisen credit institution (CRDCREINS under EBA classification).

As a cooperative, the bank is owned by its members—currently 524 members as of December 31, 2019—who must be customers and hold shares in the institution. This cooperative structure follows the self-help principles established by Friedrich Wilhelm Raiffeisen in the 19th century.

The bank is part of Austria's Raiffeisen Banking Group. It jointly owns the Raiffeisenlandesbank Vorarlberg with other Vorarlberg Raiffeisen banks, which in turn is a co-owner of Raiffeisen Bank International AG, one of Central and Eastern Europe's leading banking groups. Despite these affiliations, Raiffeisenbank Lech am Arlberg operates as an independent, locally-focused institution.

Question 8

How large is Raiffeisenbank Lech am Arlberg?

Accepted Answer

As of 2023, Raiffeisenbank Lech am Arlberg held total assets of €408.83 million, ranking it as the 231st largest bank in Austria with a 0.04% market share. Customer deposits totaled €199.6 million, while the bank maintained a loans-to-deposits ratio of 111.90%. The bank demonstrated solid profitability with a return on assets of 0.02% and net income of €90,070 in 2023. Total assets grew by 1.49% compared to the previous year, reflecting steady organic growth in its alpine market area.

Raiffeisenbank Lech am Arlberg

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About Raiffeisenbank Lech am Arlberg in Austria

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