Meisterschwanden is first mentioned in 1173 as "Meistersvanc" though this comes from a 14th Century copy of the original. In 1179 it was mentioned as "Maestirwanch". In 1363 the Twingherrschaft transferred from the lords of Meisterschwanden to the Lords of Hallwyl. The high court rights came to Bern in 1415. During the second Villmergen war in 1712, Fahrwangen was used as a camp by the Reformed troops. As the Catholic troops attacked, according to legend, the women of Fahrwangen and Meisterschwanden marched out to join the soldiers. The Protestant Bernese troops were so impressed with the valor of the women, that they granted them a day when the women could command. Since then, on the second Sunday in January they have celebrated the "Meitlisunntig" (Girls' Sunday). On this day, women from both villages run through the streets carrying nets. Any man who is captured in a net must pay his "Lösegelds" or ransom (often in the form of alcoholic drinks) to get free.