Zweite Sparkasse is Austria’s first bank to earn the Verified Social Enterprise label

An independent panel of experts appointed by Austria’s Federal Ministry for Economic Affairs, Energy and Tourism has awarded Zweite Sparkasse the “Verified Social Enterprise” (VSE) label. This places Zweite Sparkasse among a select group of institutions in Austria that are recognized for making a significant economic contribution while also creating a positive social and environmental impact.

“We are particularly delighted that Zweite Sparkasse has become the first banking institution in Austria to be awarded the Verified Social Enterprise label,” says Carmencita Nader, Member of the Management Board of Zweite Sparkasse. “This recognition confirms what Zweite Sparkasse has stood for over the past 20 years: helping people in difficult life situations to regain financial stability and independence. Our greatest success is when our customers find their way back to a self-reliant financial life and eventually no longer need our support. I would like to extend my special thanks to our more than 380 volunteers, whose commitment, time and dedication have helped make Zweite Sparkasse a genuine second chance for more than 28,000 people.”

“Social entrepreneurs demonstrate that economic success and social responsibility can go hand in hand. They develop innovative solutions to today’s challenges, creating value for both society and the economy. With the Verified Social Enterprise label (VSE label), we provide these companies with the recognition and visibility they deserve. It is particularly encouraging to see that the label now reaches social enterprises in almost all of Austria’s federal provinces, highlighting the potential of social entrepreneurship across the country,” said Elisabeth Zehetner, the Austrian State Secretary for Energy, Start-ups and Tourism

About the Verified Social Enterprise Label
The Verified Social Enterprise Label, awarded by the Federal Ministry for Economic Affairs, Energy and Tourism, recognizes organizations that combine economic success with a clear social or environmental mission and primarily reinvest their profits to achieve this purpose. Following a successful assessment by an independent Impact Board, qualifying organizations are officially recognized as Verified Social Enterprises. Since its introduction in 2022, more than 100 organizations have received the label. A complete list of certified organizations is available here.

About Zweite Sparkasse
Zweite Sparkasse was founded in Vienna in 2006 with the support of ERSTE Foundation to provide people facing financial hardship with access to a bank account. As a not-for-profit bank, it works with more than 380 volunteers and promotes self-help through prevention, financial education, advisory services, as well as personal and digital support. Over the past twenty years, Zweite Sparkasse has supported more than 28,000 people on their journey back to financial stability. The bank is represented at nine locations across Austria (Vienna, St. Pölten, Salzburg, Graz, Linz, Klagenfurt, Villach, Innsbruck and Dornbirn), complemented by a nationwide network of correspondent savings banks.