The community consists of the centres of Osterwald, Alte Piccardie and Hohenkörben (Veldhausen parish).

Osterwald’s economic mainstay is agriculture, and its next most important source of livelihood is the petroleum industry.

(Bolz Club Osterwald), there is also a sport hall, where volleyball, handball, basketball and football are played.

At the village community house, theatre performances or children’s musicals share space with weddings and other celebrations.

Furthermore, Osterwald is also a favourite place for people to come and play the regional game known as Kloatscheeten which involves teams rolling a small wooden disk with a leaden core along roadways.