Grue Sparebank
Grue Sparebank is a Norwegian local savings bank founded in 1862, operating four branches across Hedmark/Innlandet and providing retail and SMB customers with daily banking, mortgages, consumer loans, savings/pension products, and Fremtind-underwritten insurance distributed through the Eika banking alliance.
- Company typePrivate
- Founded1862
- HeadquartersKirkenær, Norway
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Grue Sparebank does
Grue Sparebank is a Norwegian local savings bank (sparebank) founded in 1862, headquartered at Lundgaardvegen 13 in Elverum and operating four physical branches across the Hedmark/Innlandet region (Elverum, Flisa, Hamar, Kirkenær). It serves retail households and small-to-medium businesses with a full-stack product set: daily banking (current accounts, cards, BankID-authenticated mobile/net bank, Vipps payments), mortgage lending (including green, young-buyer and flexible rammelån variants), consumer and vehicle financing, BSU youth housing savings, fund and pension savings, and an extensive insurance catalog distributed under the bank's brand but underwritten by Fremtind Forsikring.
The bank runs on the shared Eika Alliansen banking platform (Eika Mobilbank and Netbank apps), uses BankID for authentication and Vipps for mobile payments, and integrates with FirstVet for pet-insurance telemedicine and Aktiv Eiendomsmegling for real estate cross-referrals. Revenue is generated primarily through net interest income on the loan book and deposit/BSU spreads, supplemented by transaction and account fees and insurance commissions from Fremtind-distributed products.
Distribution is hybrid: physical branches for personal advisory plus digital self-service for routine banking and loan applications, with mortgage rates disclosed publicly (5.14% nominal for green mortgages, 5.50% for under-34s, 6.15-6.60% standard tiers). The bank is a mutual savings institution with no external shareholders, and recognized in 2025 as part of the Eika Alliansen for "Norges beste kundeservice" and individually for Norway's best child insurance by bytt.no.
Grue Sparebank firmographics
Firmographics- Name
- Grue Sparebank
- Legal name
- Grue Sparebank
- Website
- https://gruesparebank.no
- Company type
- Private
- Founded year
- 1862
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Grue Sparebank is a Norwegian local savings bank founded in 1862, operating four branches across Hedmark/Innlandet and providing retail and SMB customers with daily banking, mortgages, consumer loans, savings/pension products, and Fremtind-underwritten insurance distributed through the Eika banking alliance.
- Ownership category
- akta.pro rank
Grue Sparebank industry classification
Industry- Product category
- Retail Banking
- NAICS
- Savings Institutions and Other Depository Credit Intermediation (522180), Depository Credit Intermediation (5221), Credit Card Issuing (52221)
- SIC
- Savings Institutions, Not Federally Chartered (6036), Personal Credit Institutions (6141), Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Mutual Savings Banks & Mutual Thrifts (FSABAEAD)
- akta.pro secondary industries
- Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI), Credit Cards & Revolving Credit (FSABAAAC)
Keywords
Where Grue Sparebank is headquartered
LocationHeadquarters
- HQ city
- Kirkenær
- HQ country
- Norway
- HQ region
- Europe
Offices4 records
Markets served
Grue Sparebank business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Net Interest Income: Grue Sparebank generates revenue primarily through the spread between interest earned on loans (mortgages, car loans, consumer loans) and interest paid on deposits (savings accounts, BSU). This is the core revenue driver for a Norwegian savings bank.
- Fee and Commission Income: The bank earns fees on account maintenance, card transactions, payment services, loan establishment, and insurance products distributed on behalf of Fremtind Forsikring. Insurance products (home, car, pet, life) are sold as the bank's own offerings but underwritten by Fremtind, generating commission revenue.
- Insurance Distribution: The bank offers a comprehensive range of insurance products (motor, home, travel, pet, life/health) through its branch network and digital channels. Products are underwritten and administered by Fremtind Forsikring, with Grue Sparebank acting as the distribution channel and point of contact for customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Boliglån Ung (Mortgage for Young) — discounted rate for customers under 34 years |
| Subscription | Monthly | Boliglån (Standard Mortgage) — tiered by loan size |
| Subscription | Monthly | Grønt Boliglån (Green Mortgage) — discounted rate for energy-rated A/B properties |
| Subscription | Monthly | Rammelån (Credit Line) — flexible credit line secured by property |
| Subscription | Monthly | Bilforsikring (Car Insurance) — tiered from liability only to top comprehensive |
| Subscription | Monthly | Barneforsikring (Child Insurance) — award-winning coverage for children |
| Subscription | Annual | BSU (Youth Housing Savings) — tax-advantaged savings for under-34s |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels4 records
Grue Sparebank product offering
Product offeringCore offering
Grue Sparebank is a Norwegian local savings bank (sparebank) that provides retail banking, mortgage lending, consumer loans, and insurance products to individuals and small-to-medium businesses in the Hedmark region. Core offerings include daily banking accounts, debit and credit cards, home mortgages (including youth and green variants), car and consumer loans, savings accounts (including tax-advantaged BSU), fund and pension savings, and a comprehensive insurance portfolio underwritten by Fremtind Forsikring. The bank operates through four physical branches combined with Eika digital banking infrastructure.
Product overview
Grue Sparebank is a regional Norwegian savings bank offering a comprehensive suite of financial products and services. The portfolio includes core daily banking services (Dagligbank), digital banking platforms (Mobilbank og Nettbank), and mobile payment integration (Vipps). Lending products span home mortgages (Boliglån with specialized variants for young buyers and green properties), vehicle financing (Billån, car insurance), consumer loans, and flexible credit lines (Rammelån, Refinansiering). Insurance offerings are extensive, covering property (Husforsikring, Hytteforsikring, Innboforsikring), vehicles (Bilforsikring, Båtforsikring, MC-forsikring, Snøscooterforsikring), travel, and pet insurance (Hundeforsikring, Katteforsikring, Hesteforsikring), as well as personal protection (Barneforsikring, Helseforsikring, Uføreforsikring, Livsforsikring, Kritisk Sykdom, Ulykkesforsikring). Savings products include BSU youth housing savings with tax benefits, fund investments (Fondssparing), standard savings accounts (Sparekonto with Mikrospar feature), and pension savings. All services are delivered through the Eika banking alliance platform, with insurance products underwritten by Fremtind Forsikring.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Awarded 'Norges beste barneforsikring' (Norway's best child insurance) in 2025 by bytt.no
- +1 more outcomes
Companies that use Grue Sparebank
Customer profileSegments2 records
Ideal customer profiles2 records
Grue Sparebank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Grue Sparebank partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Eika AlliansencoreGrue Sparebank is a member of the Eika Alliansen, a Norwegian banking alliance that provides shared banking infrastructure, digital platforms (Eika Mobilbank and Netbank), product development, and marketing support. The Eika partnership enables Grue Sparebank to offer competitive digital banking services while maintaining its local independence.
- Fremtind ForsikringcoreAll insurance products offered by Grue Sparebank (motor, home, pet, life, health, travel) are underwritten and administered by Fremtind Forsikring. Grue Sparebank acts as the primary customer-facing distribution channel with its own advisors selling and managing the insurance relationship. Fremtind provides the product infrastructure, pricing, and claims administration.
- Aktiv EiendomsmeglingminorGrue Sparebank partners with Aktiv Eiendomsmegling, a regional real estate brokerage with offices in Elverum, Hamar, Ringsaker, and Solør. The bank refers customers seeking property valuation or sales services to Aktiv, and Aktiv refers home-buying customers to Grue Sparebank for financing.
- VippscoreGrue Sparebank offers Vipps as a mobile payment solution within its digital banking offerings, allowing customers to make peer-to-peer payments and contactless payments via mobile. Vipps is Norway's dominant mobile payment platform.
- BankIDcoreBankID is used for secure authentication and electronic signing of documents. Grue Sparebank customers use BankID to log into mobile and net bank, sign contracts, and authorize transactions. BankID is a national standard in Norway.
Scale indicators1 record
Recent moves5 records
Expansion highlights5 records
Grue Sparebank competitors and assessment
Company assessmentBroad incumbents
- DNB: Norway's largest financial services group offering retail banking, mortgages, credit cards, and insurance — competes with Grue Sparebank for the same Hedmark retail and SMB customers and is the dominant national incumbent.
- Nordea Bank Norge: Major Nordic universal bank with a Norwegian retail and SMB franchise; competes head-to-head in mortgages, deposits, and insurance-adjacent services across the same customer base.
- SpareBank 1 SR-Bank: Large regional Norwegian savings bank alliance serving Rogaland and surrounding areas; broader incumbent operating in the same overall market with deposit, lending, and insurance distribution, but at materially greater scale.
- Gjensidige Forsikring: Norway's largest general insurer, the primary competitor to Fremtind in the property, motor, and personal insurance lines that Grue Sparebank distributes — competes for the same household insurance wallet.
Direct peers
- Sparebanken Vest: Vestland-based regional mutual savings bank and Eika Alliansen member; larger than Grue Sparebank but operates with the same mutual savings-bank model, local decision-making, and full-service banking + insurance offering.
- Høland og Setskog Sparebank: Small Eika-alliance mutual savings bank serving Akershus with a similar local-branch and digital hybrid distribution model, directly comparable in size and rural/community focus.
- Sparebanken Sør: Agder-based regional mutual savings bank and Eika Alliansen member offering mortgages, deposits, and insurance distribution — highly comparable in mutual structure, regional model, and product breadth.
- Skue Sparebank: Norwegian mutual savings bank within the Eika Alliansen, comparable in scale, mutual structure, regional focus (Numedal), and product suite spanning banking, mortgages, and insurance distribution.
Others
- Aktiv Eiendomsmegling: Regional Norwegian real estate brokerage partnered with Grue Sparebank for cross-referral; adjacent ecosystem player rather than direct competitor, but materially comparable in regional footprint and customer overlap.
Emerging players
- Sbanken (DNB-eid): Digital-first Norwegian retail bank offering competitive deposit and mortgage rates with no branch network — a relevant challenger to Grue Sparebank's younger and digitally inclined customers in Hedmark.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Grue Sparebank social profiles
Digital presenceGrue Sparebank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Grue Sparebank leadership team
Management profileNumber of profiles
Profiles17 records
Grue Sparebank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Grue Sparebank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Grue Sparebank
What does Grue Sparebank do?
Grue Sparebank is a Norwegian local savings bank (sparebank) that provides retail banking, mortgage lending, consumer loans, and insurance products to individuals and small-to-medium businesses in the Hedmark region. Core offerings include daily banking accounts, debit and credit cards, home mortgages (including youth and green variants), car and consumer loans, savings accounts (including tax-advantaged BSU), fund and pension savings, and a comprehensive insurance portfolio underwritten by Fremtind Forsikring. The bank operates through four physical branches combined with Eika digital banking infrastructure.
Is Grue Sparebank a public or private company?
Grue Sparebank is a private company. It is classified as unknown and is currently operating.
When was Grue Sparebank founded?
Grue Sparebank was founded in 1862. It employs 11 to 50 people.
Where is Grue Sparebank based?
Grue Sparebank is headquartered in Kirkenær, Norway, in the Europe region.
How does Grue Sparebank make money?
Three revenue lines are on record. Net Interest Income is the primary driver. The others are fee and Commission Income and insurance Distribution.
Who are Grue Sparebank's main competitors?
Broad incumbents on record are DNB, Nordea Bank Norge, SpareBank 1 SR-Bank and Gjensidige Forsikring. Direct peers are Sparebanken Vest, Høland og Setskog Sparebank, Sparebanken Sør and Skue Sparebank. Aktiv Eiendomsmegling is listed as an others. Sbanken (DNB-eid) is listed as an emerging player.
Does Grue Sparebank have an API?
No public API is recorded for Grue Sparebank.
What industry is Grue Sparebank in?
Grue Sparebank's product category is Retail Banking. Its primary akta.pro industry code is FSABAEAD, Mutual Savings Banks & Mutual Thrifts, with a secondary code of FSAKAAAL, Bank & Credit Union Personal Loans (Unsecured Installment). Its NAICS code is 522180 and its SIC code is 6036.