There are several banks that operate under the name "Volksbank" ( Afrikaans, Dutch and

German German(s) may refer to: * Germany (of or related to) **Germania (historical use) * Germans, citizens of Germany, people of German ancestry, or native speakers of the German language ** For citizens of Germany, see also German nationality law **Ger ...

for "people's bank"). There are also 1,099 independent local Volksbanken in Germany. They are completely separate from the Austrian Association of Volksbanks. Volksbanken are also known as VB (Volk is the German word for people) or as VR (Volksbanken Raiffeisenbanken).

Germany - Volksbanken Raiffeisenbanken

The " Bundesverband der Deutschen Volksbanken und Raiffeisenbanken" ''(Federal Association of Volksbanken and Raiffeisenbanken)'' is a consortium of 1,099 independent credit unions, which represents the banks as Germany's largest banking group in several marketing affairs and as service partner Genossenschaftliche Finanzgruppe Volksbanken Raiffeisenbanken - ''Cooperative Financial Group''. The Genossenschaftliche Finanzgruppe is the only banking group which survived the

financial crisis of 2007-08 Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fin ...

without any state intervention. Former subsidiaries of Volksbank, have been sold to Sberbank of Russia.

Companies of the Genossenschaftliche Finanzgruppe

* DZ Bank * DG HYP - mortgage bank * Münchener Hypothekenbank - mortgage bank * WL BANK - Investment for banks *

Bausparkasse Schwäbisch Hall Bausparkasse Schwäbisch Hall AG () is a building society in Germany, active abroad with subsidiaries in Eastern Europe and China. It has more than 10 million customers. Shareholders are the cooperative central bank DZ Bank (96.8 percent) in Fra ...

- building society * R+V Versicherung - insurance services * Union Investment Gruppe - asset management * VR LEASING Gruppe - investment financing * easyCredit - personal loans * DZ PRIVATBANK - private banking, asset management * VR Equitypartner - equity funding * VR Mittelstandskapital

13 January 2013 robbery at Berliner Volksbank

On 13 January 2013 robbers stole goods from 100 private safe deposit boxes located in Steglitz, Berlin. In the official statement the police said that bank security officer noticed smoke coming from the deposit room on Monday morning (January 14). Next they found broken deposit boxes and a 30 m tunnel, the digging of which probably took a couple of weeks or even months. The tunnel
external pictures
was reportedly so well constructed that it had ceiling supports and was about 3 feet wide. It connected the bank deposit and a nearby underground parking lot. Probably nobody noticed anything, because the parking lot was shielded by roulettes, and people thought that this part was under repair. There are some similarities between this robbery and the

Baker Street robbery The Baker Street robbery was the burglary of safety deposit boxes at the Baker Street branch of Lloyds Bank in London, on the night of 11 September 1971. A gang tunnelled from a rented shop two doors away to come up through the floor of the ...

in London.

Austria - Association of Volksbanks

Victoria Volksbanken Versicherung - ERGO - Vienna

In Austria there are 35 local Volksbanks (by end of 2015), each of them organized as a cooperative or a corporation. By 2017 they will merge to 8 regional banks and 2 specialized banks. They build an integrated system of banks (Association of Volksbanks) connected through a contract of collaboration. The central institution is VOLKSBANK WIEN AG, the biggest regional bank of the association. The central service functions were transferred from Österreichische Volksbanken AG (ÖVAG) to VOLKSBANK WIEN AG in July 2015. ÖVAG itself surrendered its banking license. The "remainder of ÖVAG" continues to operate as a wind-down entity under the name of immigon portfolioabbau ag. Immigon is responsible for ensuring the orderly, active and value-preserving wind-down of its assets.

The Netherlands - De Volksbank

De Volksbank is a Dutch

retail bank Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking servi ...

offering financial products to both companies and individuals.

South Africa - Volkskas

Volkskas Beperk ( en, Peoples' Bank) was a South African bank founded in 1934 as a cooperative loan bank, becoming a commercial bank in 1941. In 1991, by which time it had become South Africa's largest

Afrikaner Afrikaners () are a South African ethnic group descended from Free Burghers, predominantly Dutch settlers first arriving at the Cape of Good Hope in the 17th and 18th centuries.Entry: Cape Colony. ''Encyclopædia Britannica Volume 4 Part 2: ...

bank, Volkskas merged with United Building Society, Allied Building Society and Trust Bank to form

Amalgamated Banks of South Africa Amalgamation is the process of combining or uniting multiple entities into one form. Amalgamation, amalgam, and other derivatives may refer to: Mathematics and science * Amalgam (chemistry), the combination of mercury with another metal ** Pan am ...

(now,

Absa Group Limited Absa Group Limited (ABGL; formerly Barclays Africa Group Limited), and originally Amalgamated Banks of South Africa, is a South African-based financial services group, offering personal and business banking, credit cards, corporate and invest ...

References

External links

{{commons category, Volksbank
Volksbanken RaiffeisenbankenAustrian Association of VolksbanksVOLKSBANK WIEN AGimmigon portfolioabbau ag, former ÖVAG
Cooperative banks of Austria Banks established in 1850 Cooperative banks of Germany