Who is the father of credit Cooperative?

Friedrich Wilhelm Raiffeisen
Friedrich Wilhelm Raiffeisen. A leading figure in the development of financial cooperatives, both in Europe and around the world, Raiffeisen inspired many pioneers who set up banks or credit unions at the beginning of the 20th century.

Who started the credit union?

Credit Union History. Friedrich Wilhelm Raiffeisen and Hermann Schulze-Delitzsch, were responsible for creating the first true credit unions in Germany in 1852 and 1864. During 1849, Raiffeisen founded a credit society in Flammersfeld, Germany, but it depended on the charity of wealthy men for its support.

Is Raiffeisen German?

Friedrich Wilhelm Raiffeisen was a German social reformer who considered his main goal solving the serious economic and social problems in his sphere of influence.

What does Raiffeisen mean?

1. (Economics) Designating, or pertaining to, a form of coöperative bank founded among the German agrarian population by Friedrich Wilhelm Raiffeisen (1818-88); as, Raiffeisen banks, the Raiffeisen system, etc.

What country had the first credit union?

Germany
The first successful credit unions began in Germany under the leadership of cooperative pioneer Hermann Schulze-Delitzsch.

Where is Raiffeisen bank located?

Vienna , Austria
Raiffeisen Bank International

Which bank is Raiffeisen bank?

Raiffeisen Bank International
Raiffeisen Bank International (RBI) is an Austrian banking group and a central institution of the Raiffeisen Banking Group Austria (RBG)….Raiffeisen Bank International.

Is Raiffeisen a bank?

Raiffeisenbank refers to cooperative banks in Europe that are rooted in the early credit unions of Friedrich Wilhelm Raiffeisen. The name is found in: Raiffeisen Bankengruppe (Austria), Austrian group of cooperative banks.