As a small business owner, you may have to take on a few roles to keep things running smoothly. But in Germany, one man has his hands full being the sole employee in a small village bank.
From CEO to cleaner, Peter Brieter undertakes every task by himself at the Raiffeisen Gammesfeld eG cooperative bank in southern Germany. The one-man bank provides cash to villagers and even organises loans for small local businesses. Peter is proud to serve his local community, and knows each customer by name.
Interest in smaller banks has escalated after the global financial crisis. Steffen Steudel, a spokesman for the BVR cooperative banking group told Reuters: “Just as consumers want to know where their food is coming from, they also want to see what the bank is doing with their money”.
The bank only offers traditional retail banking – it does not provide riskier services such as credit cards, shares or even online banking.
Do you think the UK would benefit from smaller, locally-run banks? Leave us a comment to let us know your thoughts.