Question 1

What is Raiffeisenbank Taxenbach?

Accepted Answer

Raiffeisenbank Taxenbach is a local cooperative bank (eingetragene Genossenschaft - eGen) serving the market town of Taxenbach and surrounding areas in the Pinzgau region of Salzburg, Austria. As a member of the Raiffeisen Banking Group Austria, it provides retail and commercial banking services to individuals, professionals, and small to medium-sized enterprises (SMEs).

With total assets of approximately 122.31 million EUR as of 2023, the bank ranks as the 360th largest bank in Austria and the 246th largest among Raiffeisen credit cooperatives. Despite its relatively small size with a market share of 0.01%, the bank demonstrated solid financial performance with a 0.89% return on assets in 2023, making it the 70th most profitable bank in relation to its total assets in Austria.

Question 2

When was Raiffeisenbank Taxenbach founded?

Accepted Answer

While the specific founding date of Raiffeisenbank Taxenbach is not publicly documented, it is part of the broader Raiffeisen cooperative banking movement that came to Austria in 1886. The first Raiffeisen bank in Austria was established in Mühldorf near Spitz an der Donau, inspired by the cooperative principles of German pioneer Friedrich Wilhelm Raiffeisen.

The Raiffeisen movement in Salzburg gained institutional structure in 1905 with the establishment of the Salzburgische Genossenschaftszentralkasse, which later became Raiffeisenverband Salzburg in 1949. As a local cooperative, Raiffeisenbank Taxenbach was founded to serve farmers, craftsmen, laborers, and traders in the Taxenbach area, providing access to financial services and credit that would support the local agricultural and commercial economy.

Question 3

Where is Raiffeisenbank Taxenbach headquartered?

Accepted Answer

Raiffeisenbank Taxenbach is headquartered in Taxenbach, a market town in the district of Zell am See in the state of Salzburg, Austria. The bank's main office is located at Raiffeisenstraße 1, 5660 Taxenbach.

Taxenbach is situated in the Pinzgau region, specifically in the Unterpinzgau subregion. The town lies in the Salzachtal valley at an altitude of 776 meters, with a population of approximately 2,800 residents. The town is well-connected via railway and motorway, and is located close to the border with the Pongau region, making it accessible to both local residents and businesses in the surrounding area.

Question 4

Where does Raiffeisenbank Taxenbach operate?

Accepted Answer

Raiffeisenbank Taxenbach operates primarily in the Taxenbach area and the immediate surrounding communities in the Unterpinzgau subregion of Salzburg's Pinzgau district. The bank serves the market town of Taxenbach and its incorporated areas, including Eschenau, which was merged into Taxenbach in 1938.

The bank's service area is characterized by a mix of rural and semi-urban communities situated partly within the Hohe Tauern National Park. The region benefits from diverse economic activities including agriculture, forestry, tourism, and small-scale manufacturing, with the nearby aluminum plant in Lend being a significant local employer. The bank's location along the Salzach valley provides good connectivity to neighboring economic centers such as Schwarzach and St. Veit in the Pongau region.

Question 5

What services does Raiffeisenbank Taxenbach offer?

Accepted Answer

Raiffeisenbank Taxenbach provides a comprehensive range of retail and business banking products and services. For individual customers, the bank offers current accounts, savings accounts, time deposit accounts, debit cards, credit cards, consumer loans, car loans, and mortgage loans.

For business customers, the bank provides business accounts, business payment cards, business loans, and trading accounts tailored to the needs of professionals, small businesses, and medium-sized enterprises in the region.

Digital banking services are available through the bank's online banking system and mobile application, allowing customers to manage their accounts and conduct transactions remotely. Physical banking services are provided at the bank's branch in Taxenbach, which features barrier-free access, customer parking, ATMs (Bankomat), cash dispensers, account statement printers, and transfer terminals. The bank also operates a night safe for after-hours deposits.

Question 6

What makes Raiffeisenbank Taxenbach unique?

Accepted Answer

Raiffeisenbank Taxenbach distinguishes itself through its strong local roots and cooperative structure. As a registered cooperative (eGen), the bank is owned by its members rather than external shareholders, ensuring that decision-making remains focused on the needs of the local community and its businesses.

The bank demonstrated impressive financial growth in 2023, with total assets growing by 5.03% and interest income surging by 160.45%, reflecting effective adaptation to changing market conditions. With a loans-to-deposits ratio of 107.88%, the bank actively channels local deposits into financing for regional businesses and households, supporting economic development in the Taxenbach area.

As part of the Raiffeisen Banking Group Austria, the bank benefits from the cooperative network while maintaining its independence and local character. This structure provides access to centralized services through Raiffeisenverband Salzburg while preserving the personalized service and regional expertise that customers value. The bank's deposits are protected up to 100,000 EUR per depositor through the Austrian deposit guarantee scheme (Einlagensicherung AUSTRIA Ges.m.b.H - ESA).

Question 7

What type of financial institution is Raiffeisenbank Taxenbach?

Accepted Answer

Raiffeisenbank Taxenbach is a credit cooperative (Kreditgenossenschaft), specifically organized as a registered cooperative (eingetragene Genossenschaft - eGen) under Austrian law. This legal form is characteristic of the Raiffeisen banks in Austria, which operate according to cooperative principles established by Friedrich Wilhelm Raiffeisen in the 19th century.

As a credit institution (CRDCREINS) regulated by the Austrian Financial Market Authority (Finanzmarktaufsicht - FMA), the bank is subject to European Banking Authority (EBA) oversight and participates in Austria's deposit guarantee scheme. The cooperative structure means that members who hold shares in the bank have voting rights and participate in governance through democratic processes, distinguishing it from joint-stock banks where ownership and control rest with shareholders seeking financial returns.

This model emphasizes mutual self-help, member responsibility, and regional development rather than profit maximization, making it particularly well-suited to serving the banking needs of small communities like Taxenbach and their local economies.

Raiffeisenbank Taxenbach

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About Raiffeisenbank Taxenbach in Austria

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