Alsfeld saves!Foundation of the Alsfelder Volksbank

As early as 1860, members of the Alsfeld Trade Association had frequently expressed the wish “to call into existence a credit cooperative in Alsfeld as well, similar to the one established by Schulze in his home of Delitzsch.” Consequently, at the invitation of the board of the trade association, the member of parliament Professor Soldan gave a lecture on the founding of cooperatives during the general assembly in the autumn of 1862. As a result, the resolution to establish a “Vorschussverein” (advance association) was passed at that very meeting.

Since its entry into the cooperative register in 1871, this association carried the suffix “eingetragene Genossenschaft” (registered cooperative). The actual founding of the bank took place eight years later, on August 4, 1879. Following the election of the board and supervisory board, the bank was entered into the cooperative register on August 12, 1879, and business operations commenced in Mainzer Gasse as early as August 22.

It was honorable Alsfeld citizens with names well known in the city (and, of course, exclusively men, as was typical of the time) who founded the Alsfelder Volksbank over 140 years ago under the motto “Protection and support through mutual self-help.” (MNic)