He was mayor of several towns: from 1845 he was mayor of Weyerbusch/Westerwald, from 1848 he was mayor of Flammersfeld/Westerwald and finally he was mayor of Heddesdorf from 1852 until 1865.
Works
Raiffeisen conceived of the idea of cooperative self-help during his tenure as the young mayor of Flammersfeld. He was inspired by observing the suffering of the farmers who were often in the grip of loansharks. He founded the first cooperative lending bank, in effect the first credit union in 1864.
External link
Deutscher Raiffeisenverband e.V. (http://www.raiffeisen.de/)
The Raiffeisen banks continue to be successful in Germany and the Netherlands.
Their founder, FriedrichWilhelmRaiffeisen, was a minister and long...keeper of his brethren, FriedrichRaiffeisen sought to establish an effective...status of starvelings.
RAIFFEISEN, FRIEDRICHWILHELM fre drikh vil helm rif i z n, 1818...the agricultural crisis of 1846 47 Raiffeisen came to the conclusion that the chief...early form of credit union.
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