Samenbank

Samenbank is a term used in Dutch-language contexts to describe a financial institution that is owned and governed by its customers or members, rather than by external shareholders. In this sense, a samenbank is a cooperative or mutual bank that aims to combine financial services with member welfare and local development.

Foundations and governance: Samenbanken are typically member-owned with one member one vote, regardless of the size of deposits or capital contributed. Profits are usually reinvested in the bank or distributed to members as patronage refunds. Governance is provided by elected representatives on a supervisory board and a management board, with a strong emphasis on accountability to members.

Services and operations: They offer retail banking products such as savings, loans, payment services, and financial advice. Often they emphasize responsible lending, sustainable investments, and local economic development alongside traditional banking. Digital channels are common, but local presence through branches or community offices remains important in many regions.

Regulation and safety: Samenbanken are regulated by national financial authorities and participate in deposit guarantee schemes that protect customer deposits up to a specified limit. Compliance requirements include capital adequacy, consumer protection, and anti-money-laundering rules, with oversight to maintain financial stability and member trust.

Examples and context: While the term samenbank is not the formal name of a single institution, it describes a cooperative banking model found in various countries. In the Netherlands, Rabobank is the best-known large example of a cooperative bank operating under a similar governance framework, with a focus on local and regional development. Across Europe and beyond, cooperative or mutual banks share the same foundational principles, even when referred to by different names.

See also: cooperative banking, mutual organization, savings bank, Rabobank.