Friedrich Wilhelm Raiffeisen

Friedrich Wilhelm Raiffeisen was a German social reformer and pioneer of cooperative banking in the 19th century. He believed that individuals working together could improve their economic circumstances and reduce poverty. Raiffeisen founded the first rural credit unions, allowing farmers and small communities to borrow money and build financial stability through mutual aid. His ideas promoted self-help, solidarity, and local empowerment, laying the foundation for modern cooperative banking systems globally. His work helped countless people gain access to affordable credit and improved community welfare.