Financial Year Ending 2013 Accounts Summary for the Bank:
The 2024 Report on Volksbank Mönchengladbach: A Year of Growth and Community
It's time to dive into the roaring success story of Volksbank Mönchengladbach in 2024! Despite a challenging overall economic climate, this cooperative bank managed to leave its mark with a balanced sheet of 2.78 billion euros and a customer volume that swelled by nearly 5%. Board member Volker Klemm was thrilled, exclaiming, "Our members and customers trust us even in turbulent times."
In a unanimous vote at the representative assembly, a dividend of 4% was approved, with more than one million euros budgeted for distribution among members. Board member Franz D. Meurers emphasized, "The dividend reflects our cooperative idea that many can achieve something together."
Setting the Path for the Future
The assembly was bustling with updates about setting the course for the future. High on the agenda was the announced merger with VR Bank eG - Region Aachen. Carsten Thoeren, board member, reassured the attendees that both institutions were financially stable and that the merger would be an equal partnership. The goal? Fostering unity, expanding offerings, and upholding cooperative values in the region. With the motto "Preserve closeness, gain strength," a new bank is planned to rise, grounded in a broader base for the future.
Social commitments remain a cornerstone of Volksbank Mönchengladbach. The "We help" initiative continued in 2024, with employees lending a helping hand to social institutions. One example? Volunteers supported the Arbeitslosenzentrum Mönchengladbach in maintaining and redesigning their outdoor facilities. Sven Frauenkron, general manager of Volksbank Mönchengladbach, stressed the importance of these efforts, stating, "We don't just offer lip service - we want to help where help is needed."
In addition to the "We help" initiative, the bank supported over 230 clubs, social institutions, and educational projects with a total of 202,000 euros in 2024. Six food banks in the region again received a Christmas donation of 15,000 euros.
Embracing Sustainability
The ecological commitments of Volksbank Mönchengladbach were on display through the #gemeinsamHeimat initiative, which resulted in numerous tree plantings in 2024. Each new member brings a new tree, with over 1,800 trees planted in the region to date. Red maple, hornbeam, and ornamental cherries are just a few of the tree species to find a home in the region. Local partners will continue the action in the coming years, as Volksbank Mönchengladbach sees it as part of its responsibility to contribute to a high quality of life in the region.
Infrastructure expansion was a priority for Volksbank Mönchengladbach in 2024, with modernization efforts targeting existing locations, digital services, and enhancing accessibility. The Anrath branch was completely revamped and made barrier-free. Construction on the Büderich branch has commenced, with the first phase already completed. Additionally, a new location was launched in Wegberg, blending personal advice with digital offerings.
Expanding the Cube network was a significant focus, with new Cubes installed in Venn, Neersen, and Wassenberg in 2024. New Cubes in Schiefbahn and Anrath are now operational, with plans for more to come. A cash withdrawal machine was also set up at Rheydt station, solidifying Volksbank Mönchengladbach's commitment to providing modern, secure, and accessible banking services across the region.
Honoring Loyal Service
The representative assembly recognized Bernd Jansen, who has spent 25 years on the supervisory board (initially with the predecessor institutions, then with Volksbank Mönchengladbach eG). His longstanding, volunteer efforts were honored with an award, the applause of the attendees a testament to the value they place on his work.
With 427 employees, including 31 trainees, Volksbank Mönchengladbach remains a significant employer in the region. The bank invested over 1.2 million euros in employee training, health management, and social security in 2024. The long average length of service - over 17 years - speaks volumes about the employees' sense of identity with the company.
Fred Hendricks, chairman of the Supervisory Board, was optimistic, commenting, "Our bank is economically stable, our employees are committed, and we invest specifically in future topics. We have every reason to look ahead with confidence and responsibility."
Although specific details about Volksbank Mönchengladbach are limited, it seems they align with the broader trends and initiatives common among Volksbanken Raiffeisenbanken in Germany. Financial performance, upcoming mergers, social initiatives, sustainability efforts, and infrastructure development all reflect the bank's commitment to its community and region.
The banking-and-insurance industry and finance business flourished in 2024, as Volksbank Mönchengladbach approved a dividend of 4% for its members, with plans to merge with VR Bank eG - Region Aachen, aiming to strengthen their collective presence in the region.
Despite the growth and expansion, Volksbank Mönchengladbach and its employees continued to prioritize social commitments, donating over 202,000 euros to clubs, social institutions, and educational projects, while also supporting local food banks and maintaining social facilities. In line with their ecological committments, they also planted over 1,800 trees through the #gemeinsamHeimat initiative.
