Case 5 from Germany Amaryllis Co-operative Society ... - ICA Housing

liability of the member for debts of the co-operative society. Additional shares
may be signed up to a total of € 50,000.
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To increase the creditworthiness of the co-operative society vis-à-vis external
investors, external sponsors were sought to serve as guarantors. A special fund
created from contributions of members who are financially better off, issues
loans to financially weaker members to help them pay-up their shares.
Deposits and guarantees are administered in collaboration with a co-operative
bank.
Affiliation to federations
and other organisations:
• From 2005: Affiliation to a co-operative auditing federation,
• Collaboration with a housing consultancy firm (WohnBund Beratung GmbH,
Nordrhein Westfalen, NRW) for advice on acquisition of land, financial
planning and drafting the by-laws of the co-operative society,
• Agreements of co-operation with the competent authorities of the City of
Bonn, the Federal State of NRW and a firm of architects.
III. Description of the case
Background information on aging Germans
In Germany, every year the number of persons above the age of 65 grows by
500,000. Between 2003 and 2006 it has grown from 14.9 million to 16.3 million.
The total of persons needing care has increased between 1991 and 2002 from 1.6
million to over 2 million and will reach 2.8 million by 2020.
This means for all elderly persons who have no relatives to stay with and who
would provide care that they will depend on stationary care. The family networks
are becoming weaker. The distance between parents and their adult children
is growing with decreasing contacts (as shown in a study presented by the
German Federal Government on elderly citizens). This leaves the old with the
choice between loneliness and stationary care.
Preferences and options of elderly persons regarding their forms of living
A survey carried out in Germany by the German Federal Government shows that
only 6 percent of elderly persons would like to live in a common dwelling, while
19 percent would consider this as a possibility. The figures for other forms of
living are as follows:
Form of living Preference Possible option
Residential care 9 % 35 %