Leone Wollemborg
Encyclopedia
Leone Wollemborg was an Italian
economist
and politician
. He made significant contributions to the spread of cooperative enterprises
, specifically rural credit unions and agricultural cooperative banks
.
Leone was born in Padua
on March 4, 1859. At fifteen, he enrolled in the University of Padua
and graduated 4 years later in law with a thesis on autonomous tax municipalities. He had memorized all of the poems of Heinrich Heine
and was studying the works of Friedrich Wilhelm Raiffeisen
. Leone Wollemborg and a group of about 30 farm workers and small landowners founded Italy's first cooperative bank in Loreggia
in 1883. The intent of the bank was to help tenants, small landowners, and agricultural workers to rise from poverty by granting loans at low interest and with long deadlines. In 1885, he established the monthly publication Rural Cooperation, which was published until 1904.
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
economist
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
and politician
Politics
Politics is a process by which groups of people make collective decisions. The term is generally applied to the art or science of running governmental or state affairs, including behavior within civil governments, but also applies to institutions, fields, and special interest groups such as the...
. He made significant contributions to the spread of cooperative enterprises
Cooperative
A cooperative is a business organization owned and operated by a group of individuals for their mutual benefit...
, specifically rural credit unions and agricultural cooperative banks
Cooperative banking
Cooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world....
.
Leone was born in Padua
Padua
Padua is a city and comune in the Veneto, northern Italy. It is the capital of the province of Padua and the economic and communications hub of the area. Padua's population is 212,500 . The city is sometimes included, with Venice and Treviso, in the Padua-Treviso-Venice Metropolitan Area, having...
on March 4, 1859. At fifteen, he enrolled in the University of Padua
University of Padua
The University of Padua is a premier Italian university located in the city of Padua, Italy. The University of Padua was founded in 1222 as a school of law and was one of the most prominent universities in early modern Europe. It is among the earliest universities of the world and the second...
and graduated 4 years later in law with a thesis on autonomous tax municipalities. He had memorized all of the poems of Heinrich Heine
Heinrich Heine
Christian Johann Heinrich Heine was one of the most significant German poets of the 19th century. He was also a journalist, essayist, and literary critic. He is best known outside Germany for his early lyric poetry, which was set to music in the form of Lieder by composers such as Robert Schumann...
and was studying the works of Friedrich Wilhelm Raiffeisen
Friedrich Wilhelm Raiffeisen
Friedrich Wilhelm Raiffeisen was a German mayor and cooperative pioneer. Several credit union systems and cooperative banks have been named after Raiffeisen, who pioneered rural credit unions.- Life :...
. Leone Wollemborg and a group of about 30 farm workers and small landowners founded Italy's first cooperative bank in Loreggia
Loreggia
Loreggia is a comune in the Province of Padua in the Italian region Veneto, located about 35 km northwest of Venice and about 20 km northeast of Padua...
in 1883. The intent of the bank was to help tenants, small landowners, and agricultural workers to rise from poverty by granting loans at low interest and with long deadlines. In 1885, he established the monthly publication Rural Cooperation, which was published until 1904.
See also
- Cooperative bankCooperative bankingCooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world....
- Credit unionCredit unionA credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
- History of credit unions
- Luigi LuzzattiLuigi LuzzattiLuigi Luzzatti was an Italian political figure and served as the 31st Prime Minister of Italy between 1910 and 1911...