Your savings deposits are safe with us !
BBG savings facility Safe, reliable and proven for years
Braunschweiger Baugenossenschaft eG secures the savings deposits of its cooperative members via a self-help fund. It is a member of the self-help fund for securing savings deposits at housing cooperatives with a savings facility. The GdW (Bundesverband deutscher Wohnungs- und Immobilienunternehmen e.V.) manages the self-help fund in trust as special-purpose assets. The sole purpose of the self-help fund is to secure customers' deposits with the affiliated housing cooperatives.
Security through the self-help fund Reliable protection since 1974
The affiliated housing cooperatives make annual contributions.
If there is a risk that a housing cooperative with a savings facility will not be able to meet the obligation arising from deposits, the GdW can use the self-help fund within the framework of the statutes and in the interests of confidence in the affiliated housing cooperatives. However, there is no formal legal entitlement.
The fund's resources may only be used to secure deposits at housing cooperatives with savings facilities.
The GdW's self-help facility has been in existence since 1974 and since then there has not been a single case in which the self-help fund has had to step in. The GdW's self-help facility is governed by the statute "Self-help fund for securing savings deposits of housing cooperatives"; the statute will be made available to you on request.
Your money in good hands
Minimal risks thanks to a clear focus. Stability through housing stock
As a housing cooperative with a savings facility, BBG is a housing company in terms of its business activities. It also has a banking license from the German Federal Financial Supervisory Authority (BaFin) to accept savings deposits. The collection of savings deposits is the only banking business of our cooperative.
Savings deposits are used exclusively in our own housing stock and not for lending to third parties. As a housing cooperative with a savings facility, BBG does not engage in banking lending business (credit business), giro business, securities business, custody business or other banking business.
We therefore expressly emphasize this in order to show that the risk situation of housing cooperatives with savings facilities is fundamentally different, i.e. more favourable, than that of full credit institutions.
On average, the real estate portfolio of housing cooperatives with savings facilities accounts for around 80 to 90 percent of total assets. Housing cooperatives with savings facilities do not live from the fast-moving and risky financial and lending business like full credit institutions, but from long-term secured rental income.
According to their statutes and actual business policy, these cooperatives are therefore primarily housing companies.