Wüstenrot Bausparkasse

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  Wüstenrot Bausparkasse AG
logo
Country GermanyGermany Germany
Seat Ludwigsburg
legal form Corporation
Bank code 600 330 00
BIC BSWL DE61 XXX
founding 1921
Website www.wuestenrot.de
Business data 2017
Total assets 28,353.0 million euros
insoles 17,913.0 million euros
Customer credit 19,942.6 million euros
Employee 1,329
management
Board Bernd Hertweck (Chairman)
Michael Gutjahr
Matthias Bogk
Supervisory board Jürgen Albert Junker (Chairman)

The Wüstenrot Bausparkasse AG is a private building society based in Ludwigsburg . Its beginnings go back to 1921, when the Methodist lay preacher Georg Kropp founded the Association of Friends of Wüstenrot (GdF), today Wüstenrot Bausparkasse AG, in a small town called Wüstenrot . As the inventor of building society savings , Wüstenrot helped the idea of helping people to help themselves to break through in building their own homes . In terms of the amount of new home loan and savings business, Wüstenrot ranks second among the home loan and savings associations (as of 2013).

Company history

The trained chemist, nature lover, temporary good templar and war correspondent in the First World War Georg Kropp founded the Association of Friends of Wüstenrot (GdF) in the Württemberg town of Wüstenrot near Heilbronn in 1921 . In the founding protocol of July 22, 1921, the project is described as follows:

Non-profit working and living community built on the basis of practical Christianity and practical land reform to create easier living and living opportunities.

After the inflation, the Bausparkasse der Gemeinschaft der Freunde was formed within the association in 1924. Kropp was at the same time its managing director of the GdF, but gave up the management after a year and took over the chair of the supervisory board. In 1926 the workforce, which originally consisted of six, had grown fifty-fold to around 300. In 1930 the company's headquarters were relocated from Wüstenrot to Ludwigsburg against Kropp's will. Thereupon Georg Kropp resigned from all offices. From then on, the "Association of Friends of Wüstenrot" signed as "non-profit G. mb H., Ludwigsburg / Württ." And advertised in the summer of 1930:

... every 161 minutes. a home of one's own - financed the G. d. Q. - In 5½ years 141.8 million RM provided for 9,412 homes. As a building society saver of G. d. F. Anyone can get a non-cancellable loan for building, buying or repaying a mortgage at 4% interest - with life insurance protection.

There is also a photo of a brick house in the form of a cube , with a forest behind it.

After the Second World War , Hausbau Wüstenrot was founded in 1949 , and Wüstenrot Bank in 1968 . In 1969, a subsidiary for life insurance was established under the name Wüstenrot Lebensversicherung. This subsidiary was integrated into Württembergische Lebensversicherung in 2000 . Wüstenrot Hypothekenbank AG , founded in 1994 , was merged into Wüstenrot Bank AG Pfandbriefbank in 2005 .

Wüstenrot corporate headquarters in Ludwigsburg

In 1999 Wüstenrot and Württembergische Versicherung AG merged to form the new company Wüstenrot & Württembergische . Leonberger Bausparkasse AG was taken over in September 2001 .

At the beginning of 2006, Alexander Erdland and in mid-2006 Bernd Hertweck moved from competitor Bausparkasse Schwäbisch Hall to Wüstenrot & Württembergische. Alexander Erdland took over the helm of the group, Bernd Hertweck became director of sales at Wüstenrot-Bausparkasse. As a result, the expansion of the Wüstenrot Bausparkasse accelerated significantly.

On September 29, 2009 the Vereinsbank Victoria Bauspar (VVB) was merged with Wüstenrot Bausparkasse AG. As a result, the new Wüstenrot Bausparkasse was around a third larger. With around three million customers, 3.5 million home loan and savings contracts with a home savings sum of 77 billion euros and over 3,200 back office employees in Ludwigsburg and in the branches, as well as around 3,200 independent field service partners, the company was one of the four largest building societies in Germany.

On July 8, 2010, Wüstenrot Bausparkasse AG took over Allianz Dresdner Bauspar AG (ADB) with retroactive effect from January 1, 2010.

Since the middle of 2013, Wüstenrot has also been arranging the financing of its customers via the ING group's loan broker Interhyp and concentrates itself on building society savings and handy financing modules.

In 2017, Wüstenrot Bausparkasse took over the construction finance and Pfandbrief business of Wüstenrot Bank AG Pfandbriefbank. This makes Wüstenrot the first building society with an active Pfandbrief business. It is thus taking advantage of the Bausparkasse Act, which was amended at the end of 2015, and has already issued a Pfandbrief in May 2017. In addition to mortgage lending and securities, it now also offers savings and investment products.

criticism

Wüstenrot advice center

In 2011, 51 people took part in a 200,000 euro reward trip for the top-selling sales employees, divisional managers and directors to Copacabana , which attracted national public attention.

The company came under fire at the end of 2012 because it recommended customers with an old, high-interest home loan and savings contract to convert this into a new tariff with lower interest rates.

In September 2013, in a further step, the company unilaterally terminated the building society loan agreement for over 15,000 customers (around 0.5% of the total contract portfolio). The reason given was that the contracts had been saved, i.e. H. the paid-in money including interest exceeds the building society savings amount and therefore a loan can no longer be granted. This behavior is "legitimate and [...] customary in the industry" and also "necessary for business purposes" because of the low interest rate environment. According to consumer advocates, this is just a - but legitimate - tactic to get rid of high-interest old contracts.

In October 2013, the community of interests of self-employed merchants of the Wüstenrot Group (ISKW) - an association of more than 1,000 sales representatives of the Wüstenrot Bausparkasse - supported the criticism of the savings course of the Bausparkasse and publicly pointed out various internal grievances.

Web links

Commons : Bausparkasse Wüstenrot  - Collection of images, videos and audio files

Individual evidence

  1. ↑ a b Master data of the credit institute at the Deutsche Bundesbank
  2. ^ "Annual Report Wüstenrot Bausparkasse AG 2017" Accessed on April 3, 2018.
  3. ↑ Wüstenrot & Württembergische AG ( Memento from March 18, 2015 in the Internet Archive )
  4. ^ Karl Heinz Voigt: Free churches in Germany (19th and 20th centuries). Evangelische Verlagsanstalt, Leipzig 2004, ISBN 3-374-02230-8 , p. 160.
  5. ↑ Kosmos , No. 8, August 1930, p. IX
  6. ↑ Schwäbisch Hall boss Erdland goes to financial group W&W Handelsblatt on February 5, 2013
  7. ↑ Wüstenrot boss recruits his former salesman Bernd Hertweck from Postbank from Financial Times Deutschland on April 5, 2006
  8. ↑ Page no longer available , search in web archives: Bausparkasse VVB merged with Wüstenrot Bausparkasse . Press release by Wüstenrot & Württembergische AG, September 30, 2009@1@ 2Template: Dead Link / www.ww-ag.com
  9. ↑ Disclosure report Wüstenrot Bausparkasse AG as of December 31, 2010. PDF, accessed on September 15, 2016.
  10. ↑ The Rheinpfalz from March 25, 2013: Financial group W&W continues to reduce ( Memento from October 30, 2013 in the web archive archive.today )
  11. ↑ www.ww-ag.com. May 12, 2017. Retrieved May 31, 2017 .
  12. ↑ Financial Times Deutschland: Wüstenrot representative on pleasure trip ( memento of January 9, 2012 in the Internet Archive ) of December 12, 2011, viewed on September 13, 2012
  13. ↑ Handelsblatt: Bausparen bei Wüstenrot - that is customer betrayal
  14. ↑ Stuttgarter Nachrichten: Bausparkassen push customers out of contracts
  15. ↑ Handelsblatt: Wüstenrot throws out 15,000 customers
  16. ↑ Statement from Wüstenrot on current building society issues ( Memento from April 2, 2015 in the Internet Archive )
  17. ↑ Stuttgarter Nachrichten of October 2, 2013: Far behind the competition: Wüstenrot employees in constant frustration

Coordinates: 48 ° 52 ′ 59.9 "  N , 9 ° 11 ′ 23.4"  E