vdk bank

In 1926, within the Christian workers' movement in Ghent, an initiative called 'Volksspaarwezen' was established. This savings bank was founded by the Ghent-based workers' association and several local families to enhance financial inclusion for laborers who lacked access to traditional commercial banks. The network was initially built by board members, such as teachers and employees, who operated agencies as a secondary occupation. Following the financial crisis of the 1930s, a new law separated savings banks from investment banks, leading to the renaming of Volksspaarwezen to 'Volksdepositokas' (VDK) in 1934. For decades, VDK operated independently, focusing its activities on the Ghent-Eeklo region. A significant moment occurred in 1999 when an attempt to merge VDK with Artesia (a precursor to Dexia, now Belfius) was blocked, preserving its independence. This move allowed VDK to expand beyond its historic territory into other parts of Flanders. In 2017, the company rebranded from VDK Spaarbank to vdk bank, signaling a modernized approach while retaining its ethical and sustainable focus. A notable event in its recent history was the 2023 acquisition of the client portfolio of NewB, a cooperative bank, after NewB failed to retain its banking license. This strategic step expanded vdk's reach into French-speaking Belgium and reinforced its position as a sustainable financial institution.