Raiffeisen banks are a network of cooperative banks that originated in Europe, particularly in Germany, during the 19th century. They were founded by Friedrich Wilhelm Raiffeisen, who aimed to provide financial services to rural communities and support local agriculture. These banks operate on the principle of mutual assistance, where members pool their resources to offer loans and other financial services to one another. Today, Raiffeisen banks are present in several countries, including Austria and Switzerland. They focus on serving local communities and promoting economic development through responsible banking practices. Members typically have a say in the bank's operations, reinforcing the cooperative model that emphasizes community involvement and support.