Bank customers’ confidence in the security of their deposits is a valuable commodity, as is the confidence of the money markets and capital markets in the stability of Germany’s banking system. And the stability of the Cooperative Financial Network and confidence in the creditworthiness of all its members are crucial if the German cooperative banks are to compete successfully. The protection scheme run by the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks] - in conjunction with BVR Institutssicherung GmbH - plays a key role in ensuring this stability and confidence.
Since it was established:
- no customer of an affiliated bank has ever lost their deposits;
- no compensation has ever had to be paid to depositors;
- no affiliated bank has ever become insolvent.