Description
GLS Bank is a German cooperative bank, based in Bochum, that lends only to projects with a social or ecological purpose: renewable energy, organic farming and food, housing projects, schools and culture, health and care, and sustainable businesses. Four anthroposophists founded it on 11 March 1974 to finance a Waldorf school.
At the end of 2025 it had 153,960 members, 388,217 customers and a balance sheet of €11.6 billion, with €6.2 billion lent to customers. It publishes the loans it grants every quarter, along with its own investments. Its exclusion list rules out coal, oil and gas, nuclear power, arms, factory farming, genetic engineering in agriculture, synthetic pesticides and violations of human or labour rights, mostly with a 0 % revenue threshold and never above 5 %. In 2025 it ranked first for transparency and climate protection in the Fair Finance Guide Germany.
Members buy shares of €100, at least five (€500) from age 28, with a five-year notice period; the dividend for 2025 was 2 %. A current account costs €3.80 a month plus a €5 “GLS contribution”, €8.80 in all from age 28, and €1 a month from 18 to 27 (checked November 2026). There are seven branches, and most banking is done online. In late 2025 the bank closed the accounts of several left-wing groups without giving reasons, which it said were regulatory decisions.
Strengths
- Strict exclusion criteria: no fossil fuels, nuclear power, arms or factory farming.
- Loans published every quarter, so customers can see what their savings fund.
- A cooperative with about 154,000 members, who vote at the general meeting.
Weaknesses
- €8.80 a month for a current account from age 28, much more than free online banks.
- Seven branches only, and most banking is done online.
- Membership requires at least €500 in shares, tied up for five years.
Who it is for
People in Germany who want their money to work for the energy transition and social projects.
Sources
- GLS Bank: Zahlen & Fakten (31.12.2025), Girokonto, GLS Anteile, Anlage- und Finanzierungskriterien, Wo wirkt die GLS, checked November 2026
- Fair Finance Guide: GLS Bank
- Wikipedia: GLS Gemeinschaftsbank