congress - Austria / II. Republic of Austria 1987 - 5 Shilling

In 1819, at a time in the shadow of the Napoleonic Wars and the Congress of Vienna, the First Austrian Savings Bank was founded. In the course of the 19th century, there were numerous savings bank foundations, first in the big cities, then in every major city. The number of savings banks continued to grow after the turn of the century. In 1918 there were 695 institutes in today's Austrian state territory, which looked after 2 million savers. In 1907 the central savings bank of the municipality of Vienna was built. The Sparkassenwesen is today an essential economic factor and represented on all continents worldwide. In 1924, with the participation of the Austrian Savings Banks Association, the International Institute of Savings Banks was founded, a private organization which in 1987 represented 123 direct members from 79 countries and over 3,000 savings banks. The Austrian Postal Savings Bank is also a member of this International Institute of Savings Banks. The International Institute of Savings Banks has consultative status with the United Nations Economic and Social Council. Among other things, the World Congress in 1987 served the exchange of experience and the development of concepts for a forward-looking savings bank.