CO OPERATIVE MOVEMENT IN GERMANY Part 1

• The birth place of  Co operative credit movement in the world - Germany

• The birth place of co - operative land mortgage bank - Germany 

• The birth place of co - operative Urban bank - Germany

• NEUHEIMAT is a group of persons joined together on no profit basis for acquisition of houses in Germany 

• The first consumer co operative society in Germany was ERMUNTERUNG

• Co operative insurance in Germany known as ALTE-VOLKSFURSORAGE

• Workers association in Germany known as HOMESTEADS

• DESWOS is the association for social housing in Germany 

• Investment banks are first originated in - Germany              

• The Prussian central co operative bank in Germany established by was Dr Hass           

                  F W Reiffesen

• F W Reiffesen is the father of co operative movement in Gemany

• F W Reiffesen Born at ham in Germany

• F W Reiffesen Born on 30th March 1818

• FW Reiffesen known as apostle of co-operation

• The motto of All for Each and Each for All was first used by F W Reiffesen

• Poor people committee organized by Reiffesen 

• Reiffesen organised credit society with unlimited liability in rural area 

• Reiffesen union was started in the year 1877 

• F W Reiffesen started his first Credit Society at An Houssen

• Village society  was the first society started by Reiffesen 

• F W Reiffesen started village society in the year 1862

• Heddesdorf loan society was considered as the first co operative of Reiffesen tradition

• Reiffesen founded the Heddesdorf society in1864

• In Reiffesen type societies the value of share is very low

• Major portion of the profit was transferred to Reserve fund in Reiffesen societies 

• Reiffesen gave more importants to moral and material well being of members. 

• The object of a Reiffesen bank was economic emancipation of farmers 

• The area of operation of the Reiffesen bank was limited 

• The membership of Reiffesen bank was limited 

• Deposits accepted from members and non members in Reiffesen Societies 

• Interest paid by Reiffesen bank was 4% - 5%

• The only paid servant in Reiffesen  society was the Accountant