August 4, 1879

Money box, around 1900

Alsfeld saves!Foundation of Alsfelder Volksbank

As early as 1860, members of the Alsfeld trade association had frequently expressed the wish “to establish a credit cooperative in Alsfeld as well, similar to the one founded by Schulze in his native Delitzsch (Hermann Schulze-Delitzsch, founder of the cooperative system)”.

Thereupon, at the invitation of the board of the Alsfeld trade association, the member of the state parliament, Professor Soldan, gave a lecture on the founding of cooperatives at the association’s general meeting in the fall of 1862.

The result was that the decision was taken at this general meeting to establish an advance payment association. Since its entry in the register of cooperatives in 1871, this association had been called a “registered cooperative. The actual foundation of the bank took place eight years later on August 4, 1879.

After the election of the board of directors and the supervisory board, the bank was entered in the register of cooperatives on August 12, 1879, and business operations began in Mainzer Gasse as early as August 22.

It was Alsfeld citizens with well-known names (and of course, in keeping with the times, exclusively men) who founded the Alsfelder Volksbank 140 years ago under the motto “protection and support by way of mutual self-help.” MNic