GLS Bank
| Company type | Cooperative |
|---|---|
| Industry | Banking, Financial services |
| Founded | 1974 |
| Founder | Wilhelm Ernst Barkhoff, Gisela Reuther |
| Headquarters | Bochum , Germany |
Area served | Germany |
| Products | Ethical banking, financial services |
| Website | www |
GLS Bank (formally known as GLS Gemeinschaftsbank eG) is a German financial institution established in 1974 by Wilhelm Ernst Barkhoff and Gisela Reuther, rooted in anthroposophical ideals. It holds the distinction of being Germany's pioneering ethical bank, prioritizing projects with cultural, social, and ecological impact that emphasize human values over financial gain. The acronym GLS represents Gemeinschaftsbank für Leihen und Schenken, which translates to "Community bank for lending and gifting."
Located in Bochum, GLS Bank functions as a cooperative entity. Its total assets expanded from EUR 0.645 billion in 2006 to EUR 1.847 billion by the conclusion of 2010. By 2016, the volume of assets managed had increased to €4.1 billion.
In recognition of its commitment to fair business conduct, GLS Bank was honored with the first-ever German Award for Excellence by the Deutschen Gesellschaft für Zertifizierung (German Certification Group) in 2015.
During the annual general meeting held in December 2016, nearly 80% of around 1,200 participants agreed to implement the GLS Beitrag, a new contribution framework designed to further the bank’s mission.
Growth
The year 2010 saw GLS Bank welcoming over 18,000 new clients, and by February 2011, it announced a record growth rate of 37%, the highest in its history. Membership numbers reached 46,313 by December 2016, reflecting a 10.3% rise from 41,982 members recorded in December 2015.
Support
GLS Bank provides financial backing to projects focused on renewable energy, sustainable agriculture, housing, eco-friendly enterprises, healthcare, cultural initiatives, and education. Among its supported organizations is the advocacy group "Center for a Modern Liberalism," established by former Alliance 90/The Greens members Marieluise Beck and Ralf Fücks.
See also
- Triodos Bank, another ethical banking institution inspired by anthroposophical philosophy.
External links
- Official website (English)
- Official website (German)