Question 1

What is Volksbank Olpe-Wenden-Drolshagen?

Accepted Answer

Volksbank Olpe-Wenden-Drolshagen is a German cooperative bank (Genossenschaftsbank) based in the city of Olpe in North Rhine-Westphalia, within the district of Olpe. As a member-owned financial institution, it operates as part of the German Cooperative Financial Group (Genossenschaftliche FinanzGruppe Volksbanken Raiffeisenbanken).

The bank serves retail customers and small to medium-sized enterprises (SMEs) in the southwestern region of Kreis Olpe, focusing on the communities of Olpe, Wenden, and Drolshagen. With a balance sheet of approximately 958 million euros and over 20,000 members, it is a substantial regional cooperative bank.

Question 2

When was Volksbank Olpe-Wenden-Drolshagen founded?

Accepted Answer

The bank traces its roots to the 19th century through two historic branches. On January 11, 1874, 34 individuals founded the Darlehnskassenverein Drolshagen in the town of Drolshagen. On June 4, 1885, the Wendener Spar- und Darlehnskassenverein was established in Wenden.

These two institutions merged in 1972 to form the Spar- und Darlehnskasse Wenden-Drolshagen eGmbH, which was renamed Volksbank Wenden-Drolshagen eG in 1974. Separately, the Amt Olper Spar- und Darlehnskassenverein eingetragene Genossenschaft mit unbeschränkter Haftpflicht was founded on August 2, 1925, in Olpe, and has operated as Volksbank Olpe eingetragene Genossenschaft since 1974.

In June 1986, Volksbank Olpe merged with Volksbank Rhode eG. The current bank was formed in June 2011 when the general assemblies of both Volksbank Olpe and Volksbank Wenden-Drolshagen approved a merger, effective retroactively to January 1, 2011.

Question 3

Where is Volksbank Olpe-Wenden-Drolshagen headquartered?

Accepted Answer

Volksbank Olpe-Wenden-Drolshagen is headquartered in Olpe, Biggesee, North Rhine-Westphalia, Germany. The main office is located at Frankfurter Straße 22 in Olpe.

Question 4

Where does Volksbank Olpe-Wenden-Drolshagen operate?

Accepted Answer

The bank's business area covers the southwestern region of Kreis Olpe in North Rhine-Westphalia, serving the communities of Olpe, Wenden, and Drolshagen. It maintains five branches throughout this area: the main office in Olpe plus two self-service branches there, and full-service branches in Drolshagen, Wenden, Hünsborn, and Gerlingen, as well as a self-service branch in Rhode.

The bank operates 14 ATMs across its service territory, providing convenient access to cash and banking services for its approximately 20,145 members and broader customer base.

Question 5

What services does Volksbank Olpe-Wenden-Drolshagen offer?

Accepted Answer

Volksbank Olpe-Wenden-Drolshagen provides comprehensive universal banking services including current accounts, girocard and international debit/credit cards, savings accounts, time deposits, and flexible overnight money products. The bank offers consumer loans, overdraft facilities, automobile financing, and residential mortgage financing.

For business clients, the bank provides business accounts, working capital loans, investment financing, entrepreneurial loans, guarantees, and foreign payment processing. Through its cooperative network partners, it offers insurance products via R+V Versicherung, building society savings through Bausparkasse Schwäbisch Hall, investment funds and securities custody via Union Investment, and specialized financing through partners including DZ Bank, Münchener Hypothekenbank, DZ Hyp, and VR Smart Finanz.

Digital banking services include online banking platforms, the VR Banking App with PSD2-compliant strong customer authentication, mobile wallet support, and merchant acquiring services via VR Payment. The bank's published fee schedule offers both package and usage-based account models.

Question 6

What makes Volksbank Olpe-Wenden-Drolshagen unique?

Accepted Answer

As a cooperative bank, Volksbank Olpe-Wenden-Drolshagen is owned by its over 20,145 members who participate in democratic governance through the representatives' meeting. The bank operates under cooperative values of responsibility, respect, solidarity, and partnership, following the principle "what one person cannot achieve alone, many can achieve together."

The bank demonstrates exceptional regional commitment, contributing approximately 100,000 euros annually in 2024 to support local clubs, associations, kindergartens, schools, and social institutions in its service area. With 160 employees and a balance sheet of 958.2 million euros, the bank maintains personal relationships with customers while offering modern banking solutions.

The bank emphasizes short, unbureaucratic decision-making processes and comprehensive consultation tailored to individual needs. It holds a Fitch credit rating of AA- (very high credit quality) and participates in the BVR Institutssicherung deposit protection scheme, providing coverage beyond the statutory 100,000 euro guarantee.

Question 7

What type of financial institution is Volksbank Olpe-Wenden-Drolshagen?

Accepted Answer

Volksbank Olpe-Wenden-Drolshagen is a Kreditgenossenschaft (credit cooperative) registered as an eingetragene Genossenschaft (eG), the German legal form for registered cooperatives. It is registered in the cooperative register at the Amtsgericht Siegen under GnR 145.

As a credit institution, it operates under the Cooperative Act (Genossenschaftsgesetz) and its own bylaws approved by the representatives' meeting. The bank is supervised by the German Federal Financial Supervisory Authority (BaFin) and Deutsche Bundesbank, and is a member of the cooperative banking network coordinated by DZ Bank, making it part of one of Germany's three banking pillars.

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About Volksbank Olpe-Wenden-Drolshagen in Germany

Volksbank Olpe-W­enden-­Drolsh­agen