Questions & Answers Membership

Membership is not limited to any age. The consent of a parent or legal guardian is required to open a membership for minors.

To change your name, please send us a copy of your changed identity card or marriage certificate. Please inform us in writing of any changes of address or bank details.

Membership is personal and cannot be opened jointly for spouses.

In accordance with the Articles of Association, you can subscribe up to 30 shares. However, this is limited to a maximum of two shares due to a current resolution of the Executive Board.

Membership must be terminated in writing by 30.09. of a year at the latest in accordance with the Articles of Association. The member leaves the cooperative at the end of the second year following termination. The credit balance can be disposed of as soon as the Annual General Meeting has approved the annual financial statements for the last financial year.

Partial termination of individual shares is also possible. This must also be given in writing by September 30 of a financial year.

A dividend is distributed for the shares and transferred to the members. The dividend entitlement is based on the share capital on January 1 of the respective financial year. The amount of the dividend is decided annually by the Representatives' Meeting.

You can submit an exemption order to us for your dividend. Without this, taxes would be deducted directly from the dividend. We recommend that you submit the exemption order by May of each year at the latest so that we can take it into account in good time.

You can set up a contract in favor of third parties for your membership in the event of death. To set up a power of attorney, a joint appointment with the authorized representative is required at our administration office.

You can transfer your shares to another person. If you have several shares, a partial transfer is also possible. Important to know: It is not the membership number that is transferred, but your share balance is transferred to a new membership number.

In accordance with the articles of association, membership is terminated at the end of the year of death. The next of kin may dispose of the credit balance upon presentation of valid proof of inheritance. The credit balance is due in the following year following the resolution of the Representatives' Meeting.

The share capital can only be paid out after notice of termination has been given and a resolution has been passed by the Representatives' Meeting. The share register, if available, a valid identity card and a written payout order are required for the payout.