The bank is rooted in the ideas of Friedrich Wilhelm Raiffeisen, the founder of the cooperative movement of credit unions, who in 1864 created the first farmers' bank in Germany. Being a countryside mayor he was confronted with the abject poverty of the farmers and their families. He tried to alleviate this need through charitable aid, but realised that self-reliance had more potential in the long run, and thus converted his charitable foundation into a farmers' bank in 1864. In doing so he created the Darlehnskassen-Verein, which collected the savings of countryside dwellers and provided enterprising farmers with loans. The first was formed as a cooperation of 6 local banks and the latter as a cooperation of 22 local banks. These two existed side by side for three-quarters of a century despite their obvious similarities. The reasons for this owed in part to legal disagreements. The most important difference, however, was cultural. The Eindhoven-based Boerenleenbank had a decidedly…