Whose Self-Interest? Social Elites, Religious Competition, and the Rise of Raiffeisen Banks in the Netherlands

The reasons proposed in the extant literature for the emergence of boerenleenbanken (Dutch Raiffeisen cooperative banks) at the turn of the twentieth century fall into three categories: (1) to meet untapped market demand; (2) as an organizational response to economic and technical change; and (3) as an extension of socio-religious confessional politics. I use business history case studies of boerenleenbanken established in the neighbouring villages of Loosduinen and Rijswijk to weigh the relative importance of these accounts. While all three play a part in explaining the market entry of this new type of banking business, I conclude that the third reason was probably critical; boerenleenbanken should be viewed as a component of the wider movement towards the economic confessionalization of the Netherlands