Abstract: Hermann Schulze-Delitzsch founded the first urban credit cooperativein Germany in 1850 while Friedrich Wilhelm Raiffeisenformed the first rural credit cooperative in Germany in 1864.A principal purpose of these early people's banks was to draw outsidefunds into communities that needed them; not as charitable donationsbut as loans to be repaid （Isbister 1994）。 By 1913 there were 1,500urban credit cooperatives in Germany with in excess of 800,000members and approximately 17,000 rural credit cooperatives with1.5 million members. Today in Germany the Volksbanken-RaiffeisenBanken has a market share of approximately 16 per cent.

Keywords: credit cooperative, Germany, funds

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