Century-old bank relies on one man and an adding machine

Catch up with NBC News Clone on today's hot topic: Century Old Bank Relies One Man Adding Machine Flna1C8359012 - Breaking News | NBC News Clone. Our editorial team reformatted this story for clarity and speed.

Peter Breiter holds the floppy disks he uses now that the bank has a computer.
Peter Breiter holds the floppy disks he uses now that the bank has a computer.Lisi Niesner / Reuters
Peter Breiter, CEO of Raiffeisen Gammesfeld eG bank, serves a customer at the counter of the bank in Gammesfeld, Baden-Wuerttemberg.
Peter Breiter, CEO of Raiffeisen Gammesfeld eG bank, serves a customer at the counter of the bank in Gammesfeld, Baden-Wuerttemberg.Lisi Niesner / Reuters
Peter Breiter works with an old adding-machine. The bank is not connected to a database system, there are no cash machines and its customer base consists only of residents of the town of Gammesfeld which has a population of around 510.
Peter Breiter works with an old adding-machine. The bank is not connected to a database system, there are no cash machines and its customer base consists only of residents of the town of Gammesfeld which has a population of around 510.Lisi Niesner / Reuters
Fritz Vogt, 82, who used to run the bank and still helps out with paperwork, writes into a savings book. During his time at the bank he rejected the idea of IT, preferring his trusty fountain pen, and now eyes the 'new' computer with its floppy disks warily.
Fritz Vogt, 82, who used to run the bank and still helps out with paperwork, writes into a savings book. During his time at the bank he rejected the idea of IT, preferring his trusty fountain pen, and now eyes the 'new' computer with its floppy disks warily.Lisi Niesner / Reuters

By Victoria Bryan, Reuters

Peter Breiter, 41, is an unusual banker. Not for him the big bonuses, complicated financial instruments and multi-million deals of Wall Street lore.

He is happy instead writing transaction slips out by hand for the 500 inhabitants of the tiny southern German village of Gammesfeld.

The Raiffeisen Gammesfeld eG cooperative bank is one of the country's 10 smallest banks by deposits and is the only one to be run by just one member of staff.

Peter Breiter rolls euro coins in paper.
Peter Breiter rolls euro coins in paper.Lisi Niesner / Reuters
Peter Breiter washes the floor in the waiting room of the bank.
Peter Breiter washes the floor in the waiting room of the bank.Lisi Niesner / Reuters

A typical day's work for Breiter involves providing villagers with cash for their day-to-day needs and arranging small loans for local businesses. Not to mention cleaning the one-story building that houses the bank, which is 200 meters from his own front door.

Peter Breiter holds the floppy disks he uses now that the bank has a computer.
Peter Breiter holds the floppy disks he uses now that the bank has a computer.Lisi Niesner / Reuters

Moving from a bigger bank, where it was all "sell, sell, sell," Gammesfeld-born Breiter says taking up this job in 2008 was the best decision he ever made.

The advertisement required someone to work by hand, without computers. The typewriter and the adding machine bear the signs of constant use, although Breiter, in his standard work outfit of jeans and a sweater, does now have a computer.

"It's so much fun," Breiter, a keen mathematician, says as he deals with a steady stream of lunchtime customers. He knows his customers by name and regularly offers advice on jobs, relationship and money woes.

Peter Breiter, right, welcomes customer Mandes Rueger, 30, at the counter of the bank. Rueger, an insurance salesman, comes in around twice a week to use the bank.
Peter Breiter, right, welcomes customer Mandes Rueger, 30, at the counter of the bank. Rueger, an insurance salesman, comes in around twice a week to use the bank.Lisi Niesner / Reuters

Raiffeisen Gammesfeld restricts its business to traditional retail banking -- no credit cards, shares, funds or even online banking. Annual profits are stable at around 40,000 euros ($54,000) and the biggest loan it ever made was for 650,000 euros ($875,000).

Breiter said the financial crisis prompted interest in his bank from all over Germany: "One person rang up five times asking for a 4 million euro loan, but I had to refuse because he wasn't from Gammesfeld!" Read the full story.

Photographer's blog: Lisi Niesner describes her visit to Germany's one-man bank

EDITOR'S NOTE: Images taken on Jan. 29, 2013 and made available to NBC News today.

A Raiffeisen Gammesfeld eG bank stamp.
A Raiffeisen Gammesfeld eG bank stamp.Lisi Niesner / Reuters
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