Wiesbadener Volksbank eG
Founding date - September 8, 1860
On September 8, 1860, the "Advance and Credit Association for the City of Wiesbaden" was founded in the "Zum Erbprinzen von Nassau" hall on Mauritiusplatz in the form of an association with unlimited liability that was common at the time. The majority of the founding members came from trade and industry. The court procurator Dr. Friedrich Schenck took over the chairmanship of the overall administration. On October 1, 1860, business operations were opened at the corner of Taunusstrasse and Geisbergstrasse, and the cooperative soon became a major economic player in the then capital of the Duchy of Nassau. In 1864, the name was changed to "Vorschussverein zu Wiesbaden". In this year, the association also moved into new business premises in Heymann'schen Haus in Mühlgasse.
1868 - Entry in the register of cooperatives
In 1868, after the enactment of the Cooperatives Act, the Wiesbadener Vorschussverein and all other cooperatively organized associations received a comprehensively secured legal status. The entry in the register of cooperatives was made under the name "Vorschussverein zu Wiesbaden Eingetragene Genossenschaft". In 1905, the association was transformed into a cooperative with limited liability. In 1924, it was decided to name the bank "Wiesbadener Bank Eingetragene Genossenschaft mit beschränkter Haftung".
Since 1876 - Head office at Schillerplatz
After the business premises in Mühlgasse had become too small, the company moved into a new domicile on the second floor of Georg Bücher's house at the corner of Marktstraße and Ellenbogengasse opposite the old town hall in 1870. In 1873, the association acquired the former Scholz property at the corner of Friedrichstraße and Schillerplatz. In the years that followed, a prestigious bank building was built here to the design of city architect Alexander Fach, which still serves as the bank's head office today. The bank moved into its new premises on Schillerplatz on October 6, 1876. At this time, the Vorschussverein had 4,077 members.
Partner of the Wiesbaden economy
In 1910, the Vorschussverein celebrated its 50th anniversary with a ceremony in the new Kurhaus. The public was increasingly aware that the "Vorschuss" had contributed a great deal to the rapid development of the city and its economy since its foundation. Its business policy was characterized by far-sighted liquidity management and cautious lending. Both helped the bank to survive the First World War, the hyperinflation of 1923, the banking crisis of 1931 and the Second World War. During the phase of reconstruction and the economic miracle, it was able to quickly regain and further expand its position as a pillar of the SME economy in Wiesbaden. In 1950, the bank was also recognized as a foreign trade bank. The increase in business activity was reflected in the systematic expansion of the branch network and - associated with this - the growth in retail business.
Mergers
In 1969, the bank merged with Vereinsbank Wiesbaden, founded in 1865, and four years later with Volksbank Wiesbaden-Biebrich. Since then, the bank has operated under the name "Wiesbadener Volksbank eG". Further mergers took place in 1988 (Volksbank Bad Schwalbach), 1989 (WKG-Bank Kreditbank Wiesbaden eG), 2001 (Raiffeisenbank Wiesbaden) and 2003 (Raiffeisenbank Frauenstein). In 2009, Wiesbadener Volksbank merged with Volksbank Eltville. In 2021, the representatives of the then vr bank Untertaunus eG (Idstein) and Wiesbadener Volksbank voted in favor of merging the two banks under the name "Wiesbadener Volksbank eG".
Wiesbadener Volksbank today
In the interests of its members and customers, Wiesbadener Volksbank bases its actions on the cooperative values of self-help, self-administration and self-responsibility. It is one of the largest regional cooperative banks in Germany. As a universal bank, its range of services covers advisory and financial services in the lending, deposit and investment business as well as payment transactions. In addition, it offers further financial services, such as insurance and home loan and savings business, thanks to its cooperation with the Volksbanken Raiffeisenbanken cooperative financial network. It is firmly established as a real estate broker in its business area. In addition, it offers services for the special requirements of companies and private clients with complex asset structures through its Corporate Client Advisory and Private Banking business areas. Its customers include private individuals, freelancers, tradesmen, medium-sized companies and institutional clients. Wiesbadener Volksbank's business area includes the state capital of Wiesbaden, the town of Idstein with the regions of Untertaunus and the front Rheingau.
Literature
Schmidt-von Rhein, Georg (editor): Commemorative publication on the 150th anniversary of Wiesbadener Volksbank 1860-2010, Wiesbaden 2010.