Question 1

What is Westerwald Bank?

Accepted Answer

Westerwald Bank (Westerwald Bank eG Volks- und Raiffeisenbank) is a cooperative bank based in Montabaur, Germany, serving the Westerwald region. With roots dating back to 1849 and formal establishment in 1862, the bank resulted from mergers of multiple cooperative credit institutions founded on the principles of Friedrich Wilhelm Raiffeisen and Hermann Schulze-Delitzsch. With approximately 87,000 members, 144,000 customers, over 480 employees, and total assets exceeding €4.1 billion, it ranks among the largest cooperative banks in Rhineland-Palatinate.

Question 2

When was Westerwald Bank founded?

Accepted Answer

Westerwald Bank's origins trace to 1849 when Friedrich Wilhelm Raiffeisen established the "Flammersfelder Hülfsverein zur Unterstützung unbemittelter Landwirthe" (Flammersfeld Aid Association for Supporting Impoverished Farmers) in the Altenkirchen district. In December 1862, approximately 300 craftsmen, farmers, and small merchants founded the "Hachenberger Vorschussverein" based on Schulze-Delitzsch's cooperative principles.

Throughout the late 19th century, numerous savings and loan associations were established across the Westerwald region following both Raiffeisen and Schulze-Delitzsch models. These independent cooperatives gradually merged over decades. In 2001, Volksbank Westerwald eG and Raiffeisenbank 2000 Westerwald eG merged to form Westerwald Bank eG Volks- und Raiffeisenbank.

Subsequent mergers included Volksbank Montabaur-Höhr-Grenzhausen eG in 2017 and Raiffeisenbank eG Unterwesterwald in 2023, consolidating the cooperative banking presence in the region.

Question 3

Where is Westerwald Bank headquartered?

Accepted Answer

Westerwald Bank is headquartered in Montabaur, Rhineland-Palatinate, Germany.

Question 4

Where does Westerwald Bank operate?

Accepted Answer

Westerwald Bank operates throughout the Westerwald region in western Germany, maintaining 16 branch locations. The bank's primary service area covers the Westerwaldkreis district comprehensively, with branches in Arzbach, Bad Marienberg, Hachenburg, Hillscheid, Höhr-Grenzhausen, Montabaur, Ransbach-Baumbach, Rennerod, Selters, Westerburg, Wallmerod, and Wirges.

Additionally, the bank serves Landkreis Altenkirchen through branches in Altenkirchen, Betzdorf, Horhausen, Wissen, and Weyerbusch. The bank also maintains a presence in neighboring Landkreis Neuwied with a branch in Dierdorf. This extensive regional network enables the bank to serve customers throughout western Rhineland-Palatinate.

Question 5

What services does Westerwald Bank offer?

Accepted Answer

Westerwald Bank offers comprehensive retail and business banking services including current accounts (Girokonto), savings accounts, time deposits, and specialized accounts like the free "WällerStarter" account for new customers. The bank provides various lending products including residential mortgages, consumer loans, car financing, and instant credit up to €75,000.

Investment services encompass securities trading, mutual funds, investment advisory, pension planning, and wealth management with sustainable investment options. The bank offers payment cards (debit and credit cards), safe deposit boxes, insurance products, and pension plans.

For business customers, the bank provides commercial lending, business accounts, and specialized financing for small and medium-sized enterprises (SMEs). Digital services include comprehensive online banking, mobile applications, telephone banking, and self-service terminals at branches. The bank also offers foreign exchange services and international payment transactions.

Question 6

What makes Westerwald Bank unique?

Accepted Answer

Westerwald Bank distinguishes itself through its deep roots in the Westerwald community spanning over 160 years. As a cooperative bank, it operates on the founding principle "Was einer nicht schafft, das schaffen viele!" ("What one cannot accomplish, many can achieve together!"), emphasizing collective strength and mutual support.

The bank's ownership structure as a registered cooperative (eG) means profits benefit members and the regional community rather than external shareholders. With nearly 87,000 members, it represents one of Germany's larger regional cooperative banks with strong local commitment.

The bank has received multiple awards as a top employer, demonstrating its commitment to employee development and workplace quality. It actively supports regional culture, sports, and social projects through extensive sponsorship programs. The bank combines nearly two centuries of cooperative banking tradition with modern digital services, maintaining personal relationships while offering contemporary financial technology.

Question 7

What type of financial institution is Westerwald Bank?

Accepted Answer

Westerwald Bank is a Genossenschaftsbank (cooperative bank), specifically a Volks- und Raiffeisenbank, operating as a registered cooperative (eingetragene Genossenschaft - eG) under German cooperative law. This legal form means the bank is owned by its members who hold cooperative shares.

In Germany's banking system, cooperative banks form one of the three traditional pillars alongside savings banks and commercial banks. Westerwald Bank is a member of the cooperative financial network (Genossenschaftliche FinanzGruppe Volksbanken Raiffeisenbanken) and affiliated with DZ Bank as its central institution.

The bank participates in the institutional protection scheme (Institutssicherung) of the National Association of German Cooperative Banks (BVR Institutssicherung GmbH), which protects customer deposits. It is supervised by BaFin and operates as a full-service retail and commercial bank serving individuals and businesses in its regional market.

Westerwald Bank

in Germany 🇩🇪

Crypto-Friendliness

All done!

About Westerwald Bank in Germany