Genossenschaftsbank

What Genossenschaftsbank does

Genossenschaftsbank eG München is a German cooperative bank (eingetragene Genossenschaft, founded 1920) headquartered in Munich, operating within the Genossenschaftliche FinanzGruppe Volksbanken Raiffeisenbanken network of approximately 750 cooperative banks. The bank serves two principal customer segments: retail customers (Privatkunden), including youth and working professionals via the free Primagiro and the modular Privatkonto 5000plus (€0–€5/month), and small and medium-sized business customers (Firmenkunden) via the Geschäftskonto and corporate deposit and payment products such as Firmentagesgeld, Firmenfestgeld, and Firmenkreditkarte. Distribution combines a physical branch network in Munich, an Online-Geschäftsstelle (OGS) self-service platform, and the cooperative banking mobile stack (VR Banking App, VR SecureGo plus, Wero instant payments), with online appointment booking bridging digital and branch channels.

The bank's core technology stack is not proprietary but is delivered through the shared cooperative infrastructure managed by Atruvia AG, including VR OnlineBanking, VR Banking App, VR SecureGo plus authentication (with biometric login and push-based Direktfreigabe), Wero instant payment rails, and the UnionDepot/Online-Brokerage investment platform. Card products run on Mastercard and Visa networks, with mobile wallet support through Apple Pay and Google Pay. Revenue is generated through account maintenance fees, interest spread on deposits and overdraft facilities (Dispokredit at 11.41% arranged and 16.41% tolerated, variable p.a.), card interchange and fees, and referral commissions from partner insurance providers (Allianz, R+V Versicherung, VKB) and investment fund manager Union Investment. The bank's competitive position is anchored in member-ownership governance, the trusted BVR cooperative brand, free access to ~13,800 cooperative ATMs across Germany, and a hybrid physical/digital advisory model. No revenue, headcount trajectory, or AI/ML capability disclosures are available in the input data.

Name

Genossenschaftsbank

Legal name

Genossenschaftsbank eG München

Website

https://genobamuc.de

Company type

Private

Founded year

1920

Operating status

Operating

Headcount range

11–50 employees

Short description

Genossenschaftsbank eG München is a Munich-based German cooperative bank (founded 1920) serving retail and SME customers with checking, savings, card, lending, and investment products through physical branches, the Online-Geschäftsstelle, and the cooperative VR Banking App and VR SecureGo plus infrastructure.

Ownership category

akta.pro rank

Headquarters

HQ city

Munich

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Kontoführungsgebühren (Account Maintenance Fees): Monthly account management fees on checking/savings accounts. The Privatkonto 5000plus generates €5.00/month if savings balance is below €5,000. Premium Privatkonto costs €5.00/month as a bundled package. Primagiro (youth account) is free. Fee structure incentivizes customers to maintain higher balances with the bank.
2. Kredit- und Dispozinsen (Credit & Overdraft Interest): Interest income from granted overdraft facilities (Dispokredit) and tolerated overdrafts (geduldete Überziehung). Variable rates: 11.41% p.a. for arranged overdraft; 16.41% p.a. for exceeded or temporarily tolerated overdraft. Zinsbelastungsperiode (interest charging period) is quarterly.
3. Kartenerträge (Card Revenue): Revenue from debit and credit card issuance (girocard, Mastercard, Visa, BasicCard) including interchange fees, annual card fees, and transaction commissions on card payments.
4. Einlagenvermittlung und Provisionserträge (Deposit Intermediation & Commission): Commission revenue from distributing partner products: Allianz insurance, R+V Versicherung insurance, Union Investment funds, and VKB – Versicherungskammer Bayern insurance. The bank earns referral/distribution commissions for cross-selling these partners' financial products to its customer base.
5. Einlagen- und Anlageprodukte (Deposit & Savings Products): Interest spread income from accepting customer deposits (Girokonto, Sparbuch, Anlage-Sparbuch, Tagesgeld, Festgeld) and on-lending as loans to retail and business customers. Products include Sommer-Sparer (2.60% p.a., 15-55 months), Firmenfestgeld, and Firmentagesgeld.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Genossenschaftsbank eG München is a Munich-based cooperative bank that provides retail and small-business banking services, including current accounts (Privatkonto 5000plus, Primagiro, Privatkonto, Geschäftskonto), savings products (Anlage-Sparbuch, Sommer-Sparer, Tagesgeld, Festgeld, Firmentagesgeld, Firmenfestgeld), debit/credit cards (girocard, Mastercard, Visa, BasicCard), overdraft facilities (Dispokredit), online banking (VR OnlineBanking, VR Banking App, VR SecureGo plus), investment services (Online-Brokerage, UnionDepot), business services (Firmenkreditkarte, Auslandszahlungsverkehr), and insurance/fund distribution through cooperative partners (Allianz, R+V, Union Investment, VKB).

Product overview

Genossenschaftsbank eG München operates as a cooperative bank offering a comprehensive suite of banking products and services for both private and business customers. The core banking platform includes multiple checking account options (Privatkonto 5000plus with modular pricing, Primagiro for youth customers up to age 25), diverse savings products (Anlage-Sparbuch with fixed interest, the promotional Sommer-Sparer with 2.60% p.a.), and credit/debit cards via Mastercard and Visa networks. Digital banking is delivered through the OnlineBanking platform, VR Banking App for mobile access, and VR SecureGo plus for secure two-factor authentication. Business banking offerings encompass the Geschäftskonto, Firmentagesgeld, Firmenfestgeld, and Firmenkreditkarte. Additional financial services include Gewinnsparen (savings with lottery), Online-Brokerage, UnionDepot for investment management, international payment services (Auslandszahlungsverkehr), and the Online-Geschäftsstelle for digital product purchases. The bank integrates with Apple Pay, Google Pay, and Wero for modern payment methods.

Differentiator

Problem solved

Functional benefit

Brands

• Privatkonto 5000plus: Individual checking account product with customizable features
• Primagiro
• VR Banking App
• VR SecureGo plus

Products and services

• Privatkonto 5000plus Modular private checking account allowing retail customers to self-select only the services they need, with free digital banking and optional paid features such as credit cards. Account management is free (EUR 0/month) when the customer holds at least EUR 5,000 in qualifying savings/investments with the bank; otherwise EUR 5.00/month. For private (retail) customers.
• Privatkonto (Bundled All-Inclusive) Bundled all-inclusive private checking account priced at EUR 5.00/month, positioned as a full-service alternative to the modular Privatkonto 5000plus. For retail customers who prefer a flat-fee subscription.
• Primagiro (Youth Account) Free youth checking account for young people up to age 25, including apprentices, students, and BAföG recipients, with age-appropriate features. Account cannot go into overdraft (Guthabenbasis). Free girocard; BasicCard available.
• Sommer-Sparer (Anlage-Sparbuch) Fixed-interest savings account (Anlage-Sparbuch) offering 2.60% p.a. with flexible terms of 15-55 months for seasonal savings campaigns aimed at retail customers.
• Anlage-Sparbuch Fixed-interest savings account with clear maturity terms providing secure savings with guaranteed returns for retail customers.
• Debit- and Kreditkarten (Mastercard / Visa Cards) Mastercard and Visa debit and credit cards providing worldwide cash withdrawal and cashless payment capabilities for retail and business customers.
• girocard German domestic debit card (girocard) accepted at over 13,800 ATMs across Volksbanken and Raiffeisenbanken locations in Germany, often with free cash withdrawals at the cooperative network.
• OnlineBanking Digital banking platform enabling customers to manage finances anytime, anywhere, with comprehensive account management and service-request capabilities.
• VR Banking App Mobile banking application for iOS and Android serving as a pocket bank for managing finances and payments on the go, with integrated SecureGo plus authentication and Wero instant payments.
• Gewinnsparen A savings-with-lottery product where retail savers have chances to win prizes (e.g., 75 prizes of EUR 4,000 each for 'Your Style. Your Vacation.').
• Geschäftskonto Business checking account for sole proprietors and companies to manage payment transactions simply. For SME business customers (Firmenkunden).
• Firmentagesgeld Business overnight deposits providing secure short-term investment options for excess operating funds of business customers.
• Firmenfestgeld Business fixed-term deposits for secure long-term investment of operating assets with guaranteed returns.
• Firmenkreditkarte Corporate credit cards enabling worldwide cash withdrawals and cashless payments for business expenses of SME business customers.
• Auslandszahlungsverkehr International payment services for cross-border transactions of business customers, processed safely and quickly.
• Online-Geschäftsstelle (OGS) Digital self-service branch where retail and business customers can complete banking transactions online, including opening products and submitting service requests 24/7.
• Dispokredit (Overdraft Facility) Overdraft facility on the checking account for retail customers, priced at 11.41% variable p.a. for arranged (eingeräumte) overdraft and 16.41% variable p.a. for tolerated (geduldete) overdraft, with quarterly interest charging.

Quantifiable outcome

• Free cash withdrawals at ~13,800 Volksbanken Raiffeisenbanken ATMs nationwide
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered minor and core.

• AllianzminorGTM or Marketing PartnerAllianz is a partner for insurance products distributed by Genossenschaftsbank eG München. Customers can access Allianz insurance products through the bank's platforms. The bank facilitates wider access to Allianz insurance offerings while earning distribution commissions.
• R+V VersicherungminorGTM or Marketing PartnerR+V Versicherung is a partner insurance provider accessible through Genossenschaftsbank eG München. The bank offers R+V insurance products as part of its multi-partner insurance offering, enabling customers to purchase coverage through the bank's channels.
• Union InvestmentminorGTM or Marketing PartnerUnion Investment provides investment fund products distributed by Genossenschaftsbank eG München. The bank's UnionDepot platform enables customers to manage Union Investment funds. The bank earns referral commissions on fund distribution.
• VKB – Versicherungskammer BayernminorGTM or Marketing PartnerVKB (Versicherungskammer Bayern) is a regional insurance partner of the bank. The bank facilitates access to VKB insurance products for its customers, earning distribution commissions.
• Atruvia AGcoreTechnology or IntegrationAtruvia AG is the central IT service provider for the Genossenschaftliche FinanzGruppe Volksbanken Raiffeisenbanken, serving all ~750 cooperative banks in Germany plus numerous other banks and enterprises. It develops and maintains the VR Banking App, VR SecureGo plus, and the overall digital banking infrastructure used by Genossenschaftsbank eG München.
• MastercardcoreTechnology or IntegrationMastercard provides debit and credit card infrastructure for the bank's card portfolio, including Mastercard-branded debit cards, credit cards, and BasicCard. The bank issues Mastercard cards enabling global acceptance for cash withdrawals and contactless payments.
• VisacoreTechnology or IntegrationVisa provides payment card infrastructure for the bank's Visa-branded debit and credit card offerings, enabling worldwide card acceptance and cash withdrawals through the bank's card product range.
• Bundesverband der Deutschen Volksbanken und Raiffeisenbanken e.V. (BVR)coreStrategic or Co-development PartnerThe BVR is the apex association of German cooperative banks. Genossenschaftsbank eG München is a member of this association, which sets standards, provides regulatory guidance, manages the cooperative banking brand, and coordinates initiatives such as Wero instant payments and shared digital infrastructure. Fraudsters frequently impersonate the BVR in phishing campaigns, underscoring its brand recognition.
• VR Payment / VR-ZahlungssystemecoreTechnology or IntegrationVR Payment (formerly VR-Zahlungssysteme) is the payment system operator within the Genossenschaftliche FinanzGruppe, providing the technical infrastructure for card acceptance and processing for Volksbanken Raiffeisenbanken. The bank's card transaction processing runs on VR Payment's infrastructure.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• HypoVereinsbank (UniCredit): Major private-sector retail and commercial bank headquartered in Munich. Competes for the same Munich retail and SME customers with a much larger balance sheet, broader product range, and proprietary digital channels.
• BayernLB: Bavarian state development bank with regional commercial banking activities. Overlaps with Genossenschaftsbank eG München in serving Bavarian SMEs and corporate clients, though at materially larger scale.
• ING Deutschland: German branch of ING, a major direct/digital bank with a large retail deposit and brokerage franchise. Competes for the same German retail customers with a similar low-fee, high-digital proposition.
• DZ BANK: Central institution of the German cooperative banking group (Genossenschaftliche FinanzGruppe). Operates as the wholesale, treasury, and product-factory arm for ~750 Volksbanken Raiffeisenbanken including Genossenschaftsbank eG München.
• Targobank: German consumer and SME bank with a branch-plus-digital model. Comparable product breadth (accounts, cards, deposits, brokerage) and a similar focus on mass-affluent and SME customers in German cities.

Direct peers

• Volksbank Raiffeisenbank Bayern Mitte: Another Volksbanken Raiffeisenbanken cooperative bank operating in Bavaria with the same member-owned model, shared Atruvia AG infrastructure, and overlapping retail/SME customer base. Most directly comparable on product mix, pricing, and technology stack.
• Münchner Bank: Another independent local cooperative bank headquartered in Munich with retail and SME focus. Comparable in scale, regional footprint, and reliance on cooperative-style member relationships.
• Stadtsparkasse München: Munich's municipal savings bank (Sparkasse) — the other major retail/SME banking pillar in the same city. Directly competes for the same Munich households and SMEs with a similar branch-and-digital model.

Emerging players

• Revolut: UK-headquartered digital bank with strong German user base. Targets price-sensitive retail customers with multi-currency accounts, instant payments, and modern UX — directly overlapping Genossenschaftsbank eG München's Privatkunden segment.
• N26: Berlin-based digital-first neobank with a German retail banking license. Competes directly for the same Munich retail primary-banking relationships via mobile-first onboarding and free core accounts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Genossenschaftsbank