Die Zweite Sparkasse Explained

Die Zweite Wiener Vereins-Sparkasse
Foundation:2006
Location:Vienna, Austria
Assets:€ 12.4 million
Num Employees:340

Zweite Wiener Vereins-Sparkasse (abbreviated: Zweite Sparkasse, also: Die Zweite) is an Austrian bank based in Vienna's Leopoldstadt district (2nd municipal district).[1] It is a socially oriented bank ran exclusively by volunteers from Erste Bank and the Sparkassen group, and does not aim for any profits.

History

The Zweite Sparkasse was founded on the initiative of and with funds from the ERSTE Foundation. The Articles of Association dated 15 May 2006 were adopted at the founding meeting and approved by the Financial Market Authority in September of the same year. On 21 October 2006, the incorporation under company law was entered in the Commercial Register of the Commercial Court of Vienna. On 21 November 2006, the first branch in Vienna-Leopoldstadt, which is also the company's headquarters, was opened in the presence of Federal President Heinz Fischer.

On 4 October 2006 the Zweite Sparkasse commenced operations and registered its first customers. At the end of 2007, the Zweite Sparkasse had around 1,300 customers with around 1,800 accounts in three branches and 268 volunteers' workers. At the end of 2017, the number of clients had grown to around 8,000 customers throughout Austria.

In line with the business model, around 4,000 Zweite clients have so far been successfully transferred to other banks.

Branch history

In addition to their main branch at the company's headquarters in Vienna Zweite Sparkasse operates branches in seven provincial capitals run in cooperation with volunteers from the associated savings banks of the federal provinces:[2]

In the provinces of Lower Austria and Burgenland, Die Zweite Sparkasse is represented in the so-called correspondent banking system. Individual branches of regional savings banks provide customer service for Die Zweite:

Description

Services

Zweite Sparkasse provides banking services to clients in financial problem situations. Only people referred to Zweite Sparkasse via one of the cooperating advisory organisations are accepted as clients. On the basis of this recommendation, the new client is provided with an account, initially for a three years term, on a credit basis only and not allowing any overdrafts.

The account is debited with a so-called "account management charge" of €9 per quarter, which is refunded to the client when they change to a conventional commercial bank and the second account is closed. Clients are given an ATM card free of charge based on the Maestro system.[3]

Zweite Sparkasse also offers a "permanent account" to allow customers additional time to sort out their financial problems, and "managed accounts" from which essential payments are made automatically.[4] All clients are issued a basic insurance package when opening an account:[5] free legal advice every three months, small accident insurance policy, household insurance (premium).

Organization

Zweite Sparkasse is a bank. The difference between Zweite Sparkasse and conventional banks consists in its social purpose, its volunteering consultants, and its not-for-profit status.

Zweite Sparkasse cooperates closely with Caritas and the Austrian debt counselling services. In Vienna and some other provincial locations Zweite Sparkasse cooperates with numerous other non-governmental organisations.[6]

Awards

Source for all:[11]

External links

Notes and References

  1. Web site: Über uns. Die Zweite Sparkasse. 20 November 2019.
  2. Web site: 15 February 2018 . Seit zehn Jahren gibts die Bank für Menschen ohne Bank . 20 November 2019 .
  3. Web site: Maestro. Sparkasse. 20 November 2019.
  4. Web site: "Zweite Sparkasse" nun auch im Burgenland. 11 April 2012. Österreichischer Rundfunk. 20 November 2019.
  5. Web site: Geschichte. Die Zweite Sparkasse. https://web.archive.org/web/20160304090018/https://www.sparkasse.at/diezweitesparkasse/Zweite-Sparkasse/Geschichte. 4 March 2016. 20 November 2019.
  6. Web site: Unsere Partnerorganisationen. Die Zweite Sparkasse. 2 December 2019.
  7. Web site: Die neuen "Licht ins Dunkel"-Botschafter. Österreichischer Rundfunk. 2 December 2019.
  8. Web site: Nominiertenbegründungen - Kategorie Sonderpreis "Maßnahmen gegen Armut und soziale Benachteiligung". Trigos. https://web.archive.org/web/20151117033638/http://www.trigos.at/trigos/gewinner/texteprojekte/article/4442.html. 17 November 2015. 2 December 2019. dead.
  9. Web site: Ausschreibung 2020. 12 November 2019. SozialMarie. 2 December 2019.
  10. Web site: Jurybegründungen TRIGOS Österreich 2013. Trigos. https://web.archive.org/web/20151117033627/http://www.trigos.at/trigos/gewinner/texteprojekte/article/6208.html. 17 November 2015. 2 December 2019. dead.
  11. Web site: Auszeichnungen. Die Zweite Sparkasse. https://web.archive.org/web/20160305074416/https://www.sparkasse.at/diezweitesparkasse/Zweite-Sparkasse/Auszeichnungen. 5 March 2016. 2 December 2019.