Volksbank Chemnitz defies times of crisis: record values ​​despite challenges!

Volksbank Chemnitz defies times of crisis: record values ​​despite challenges!

What about Chemnitz? The city is facing major challenges, but also exciting opportunities. Despite high energy prices and a weak industrial economy in Germany, Volksbank Chemnitz eG has made remarkable progress. Thanks to a solid strategic plan, total assets increased by 3.1 percent to 2.265 billion euros in 2024. Volksbank not only supports local medium-sized businesses with corporate financing, but also shows a clear commitment to the region through its commitment to various social and cultural projects.

Over 515,000 euros flowed into initiatives in the areas of education, culture, sport and social affairs. The Volksbank is also making an important contribution to the European Capital of Culture Chemnitz 2025, as an official gold sponsor. In view of the plan for a possible merger with the Vereinigte Raiffeisenbank Burgstädt eG, it is clear how close the regional cooperation is. Lending to corporate customers also shows the dynamics in the customer lending business with an increase of 69.9 million euros (+5.0%).

European Capital of Culture 2025

In 2025, Chemnitz will be the first German European Capital of Culture in over a decade. This title not only brings recognition, but also the opportunity to present the city's cultural heritage in a new way. Chemnitz presents itself under the motto “C the Unseen – European Makers of Democracy”, and the decision to appoint was made unanimously by the Conference of Culture Ministers. This is the fourth time in Germany's history that the city has been selected for this title, after Berlin, Weimar and Essen.

To support this major task, companies such as NILES-SIMMONS-HEGENSCHEIDT (NSH Group) have stood by the city. NSH Group, a global machine tool manufacturer, actively contributes to making the cultural heritage in Chemnitz visible. Jörg Hellmann, CFO of the company, emphasizes that the sponsorship should be visible in the Chemnitz Industrial Museum. The planned special exhibition “Tales of Transformation,” which will run from April 25 to November 16, 2025, will offer visitors the opportunity to learn more about the city’s development.

A look into the future

The NSH Group places particular emphasis on cultural diversity and creative exchange in the region. The industrial museum's outdoor area, which they support, is intended to become a meeting point for company events, events, outdoor cinema and concerts in the Capital of Culture year 2025. Such activities are not only a benefit for the city, but also think outside the box to draw international attention to Chemnitz.

This fits perfectly with the EU “European Capitals of Culture” initiative, which was launched in 1985. Cities that hold this title not only receive unique recognition, but also financial support, such as the 1.5 million euros that Chemnitz receives from the CREATIVE EUROPE program.

The city has clearly gone to great lengths to make the most of this title. The basis for this was created in a transparent selection process, which was carried out under the supervision of the Cultural Foundation of the States. So anyone who thinks that there is a threat of stagnation in Chemnitz is very much mistaken. Something is happening here and this city is getting ready to flourish.

The challenges are great, but Chemnitz has demonstrated a good knack for partnerships and a sense of responsibility. So it remains to be seen what further positive developments will come to the city in the coming years.