Friedrich Raiffeisen

Friedrich Raiffeisen was a 19th-century German social reformer known for creating the modern cooperative banking movement. He believed that small farmers and rural communities could improve their economic situation by pooling resources and supporting each other through jointly owned financial institutions. His initiatives laid the foundation for credit unions—personalized, member-owned financial cooperatives that provide affordable loans and savings services. Raiffeisen’s approach emphasized mutual aid, community development, and empowering disadvantaged groups, making financial tools accessible and fostering economic self-sufficiency at the local level.