Question 1

What is Raiffeisen Oberes Innviertel?

Accepted Answer

Raiffeisen Oberes Innviertel is a regional cooperative bank (eingetragene Genossenschaft, eGen) operating in Austria. The bank provides retail and business banking services to individuals, professionals, and small- to medium-sized enterprises. As of 2023, it holds total assets of approximately €365.67 million, making it the 246th largest bank in Austria with a 0.04% market share.

The bank is a member of the Austrian Raiffeisen Banking Group, one of the largest cooperative banking networks in Austria. It operates under the Raiffeisen cooperative banking model, which emphasizes community-based financial services and member ownership.

Question 2

When was Raiffeisen Oberes Innviertel founded?

Accepted Answer

Raiffeisen Oberes Innviertel was founded on June 1, 1922. The bank was established as part of the broader Raiffeisen cooperative movement in Austria, which began in 1886 with the founding of Austria's first Raiffeisenbank in Mühldorf, near Spitz an der Donau.

The Raiffeisen model was inspired by Friedrich Wilhelm Raiffeisen's vision of creating rural cooperative banks to serve farmers, craftsmen, laborers, and traders. By the time Raiffeisen Oberes Innviertel was founded, the cooperative banking movement had become well-established across Austria, helping communities overcome financial challenges through mutual support and local ownership.

Question 3

Where is Raiffeisen Oberes Innviertel headquartered?

Accepted Answer

Raiffeisen Oberes Innviertel is headquartered in Eggelsberg, Austria. The main office is located at Siedlungsstraße 1, 5142 Eggelsberg, in the state of Upper Austria (Oberösterreich).

Question 4

Where does Raiffeisen Oberes Innviertel operate?

Accepted Answer

Raiffeisen Oberes Innviertel operates in the Oberes Innviertel region of Upper Austria. The Innviertel (Inn Quarter) is a historic region in northwestern Upper Austria, named after the Inn River, and the bank serves communities in the upper portion of this area.

The bank maintains multiple branch locations throughout its service region, including its main branch in Eggelsberg. These branches serve local communities with personalized banking services tailored to the needs of the region's residents and businesses.

Question 5

What services does Raiffeisen Oberes Innviertel offer?

Accepted Answer

Raiffeisen Oberes Innviertel offers a comprehensive range of retail and business banking services, including:

Personal Banking: Current accounts (Girokonto), savings accounts, time deposit accounts, debit cards, credit cards, consumer loans, car loans, and mortgage loans.

Business Banking: Business accounts, business payment cards, business loans, and financial solutions for small- and medium-sized enterprises.

Digital Services: The bank provides online banking through the Mein ELBA platform and mobile banking via the Mein ELBA-App. Customers can access modern payment solutions including RaiPay for contactless mobile payments with Android devices. The bank's digital infrastructure includes barrier-free ATMs with features such as voice output, contactless card recognition (NFC), and lower keypad operation for accessibility.

Additional Services: Currency exchange (Wechselstube), safe deposit boxes (Kundensafe), savings book lockers (Sparbuchschließfächer), coin counting services, and mobile phone top-up services. The bank also offers facilities with barrier-free access, dedicated parking, and Wi-Fi connectivity.

Question 6

What makes Raiffeisen Oberes Innviertel unique?

Accepted Answer

Raiffeisen Oberes Innviertel distinguishes itself through its cooperative ownership structure and commitment to local community banking. As a cooperative (Genossenschaft), the bank is owned by its members rather than external shareholders, ensuring that profits are reinvested into the community and that decision-making reflects local interests.

The bank demonstrates a strong commitment to accessibility and inclusion, with comprehensively equipped branches featuring barrier-free ATMs, accessible consulting spaces, and facilities designed for customers with disabilities. These include voice-guided machines, adjustable heights, NFC technology, and emergency call systems.

As part of the Austrian Raiffeisen Banking Group, the bank benefits from the network's resources while maintaining its regional focus and personalized service. The bank's long history in the region since 1922 has established deep roots in the local community, allowing it to understand and serve the specific needs of Innviertel residents and businesses.

The bank participates in Austria's deposit guarantee scheme through Einlagensicherung AUSTRIA Ges.m.b.H (ESA), protecting deposits up to €100,000 per depositor. In 2023, the bank achieved a net income of €1.06 million with a healthy return on assets of 0.29%.

Question 7

What type of financial institution is Raiffeisen Oberes Innviertel?

Accepted Answer

Raiffeisen Oberes Innviertel is a credit institution (Kreditinstitut) registered as a cooperative bank (eingetragene Genossenschaft, eGen) under Austrian law. Specifically, it operates as a Raiffeisenbank, which is a type of cooperative credit institution within the Austrian banking system.

As a cooperative bank, it follows the Raiffeisen principle of mutual self-help, self-responsibility, and self-administration. Members have ownership stakes and voting rights in the bank's governance. This structure differentiates it from commercial banks and makes it part of Austria's "third pillar" of banking, alongside commercial banks and savings banks (Sparkassen).

The bank is regulated by the Austrian Financial Market Authority (Finanzmarktaufsicht, FMA) and operates under the authorization granted on November 26, 2014. It holds the bank sort code (Bankleitzahl) 34370 and the BIC/SWIFT code RZOOAT2L370 for international transactions.

Raiffeisen Oberes Innviertel

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About Raiffeisen Oberes Innviertel in Austria