WIR is the Swiss complementary currency and cooperative banking system created in 1934 during the Great Depression.
The system was founded by Werner Zimmermann and Paul Enz, who sought to help businesses trade when conventional money and bank credit were scarce. WIR originally stood for Wirtschaftsring, meaning economic circle, and the German word wir also means “we,” emphasizing mutual economic support.
Members could exchange goods and services using WIR credits, allowing trade even when Swiss francs were limited. The organization later developed into a cooperative bank known as WIR Bank. It has continued to offer banking and credit services alongside the WIR currency system.
WIR is not the same as a national currency, cryptocurrency, or ordinary barter club. It is a complementary monetary system operating alongside Switzerland’s official currency. The example is important in local-economy history because it shows how a business network can use mutual credit to maintain commerce during a period of financial contraction.