The cooperative bank model assured a tight bond between invested capital and the community. The bank's traditional headquarters are Utrecht and Eindhoven. In 1898, two cooperative bank conglomerates were formed:  Raiffeisen-Bank was formed as a cooperative of six local banks, while Boerenleenbank was a cooperative of 22 local banks. These two existed side by side for three-quarters of a century despite their obvious similarities. The reasons for this owed in part to legal disagreements. The most important difference, however, was cultural. The Eindhoven-based Boerenleenbank had a decidedly Catholic signature while the Raiffeisen-Bank had a Protestant background. In the past the Netherlands underwent a process of pillarisation or verzuiling, which in practice meant that members of different religious congregations and political movements essentially lived side by side, without contact between the two. A consequence of this pillarisation was that many villages hosted not one but two local banks, one each for Catholics and Protestants. The close-knit community banking that resulted helped these banks to better control their risks. Consequently, when the Dutch banking sector was devastated by a financial crisis in the early 1920s, these local banks survived largely unscathed. The religious backgrounds found their way to their organisational structures, as well; the Eindhoven organisation stressed a highly centralised structure, while the Utrecht organisation promoted local autonomy. By 1940, the two organisations cooperated with each other, albeit on a limited scale. Three major developments caused a further tightening of the bonds between the two:  In 1972, the two organisations merged to form "Coöperatieve Centrale Raiffeisen-Boerenleenbank", or Rabobank for short. The organisation chose Amsterdam to be its statutory headquarters due to its historical neutrality in relation to the founding organisations. From 1980 to 2015, the central organisation was referred to as Rabobank Nederland. In 1980, Rabobank expanded its international activities as part of its mission to finance global agriculture. In 1990, it established a joint-venture bank in Indonesia by partnering with a local bank, Bank Duta, to form RabobankDuta. Bank Duta subsequently collapsed in the 1998 Asian financial crisis, and Rabobank bought Duta's share to operate solely as PT Bank Rabobank International Indonesia. In 1994, it purchased Primary Industry Bank of Australia (PIBA), which had operations in Australia and New Zealand, and renamed it Rabobank Australia Limited in 2003.