Credit union
Credit unions: fundamental principles and legal framework
By Charlotte GAUCHON25 March 2025The French banking landscape includes players that are less well known to the general public, but whose economic weight remains considerable: the credit cooperatives. These institutions now account for more than two-thirds of bank financing for the French economy. Major groups such as Crédit Agricole, Crédit Mutuel and the BPCE group (Banques Populaires and Caisses d'Épargne) operate under a legal model that is distinct from traditional commercial banks. A distinctive legal structure Credit cooperatives differ fundamentally from traditional banks in their legal structure. Whereas commercial banks are set up as joint-stock companies, cooperative banks are based on the cooperative principles defined by Law no. 47-1775 of 10 September 1947 on the status of cooperation. Contrary to popular belief, they are not limited to agricultural financing. Article L.512-85 of the French Monetary and Financial Code specifies that networks such as the Caisses d'Epargne "participate in the development of...
The major French cooperative banking networks: organisation and specific features
Credit unions, Banking and stock exchange lawIn the French banking landscape, three major cooperative networks stand out for their size and unique history. Far from being mere alternatives to traditional commercial banks, these establishments now account for "two-thirds of bank financing for the French economy", as Nicolas Théry, Chairman of Crédit Mutuel, points out. Every...Central bodies in cooperative banking networks: role and powers
Credit unions, Banking and stock exchange lawIn the complex architecture of the French cooperative banking networks, the central bodies occupy a pivotal position. These entities ensure the cohesion and strategic steering of banking groups whose decentralised structure might seem incompatible with modern prudential requirements. The legal uniqueness of these bodies is based on their dual role of...Specialised cooperative structures: cooperative banks and mutual guarantee companies
Credit unions, Banking and stock exchange lawThe financial sector is home to cooperative structures with a variety of legal forms. In addition to the major networks such as Crédit Agricole and Banques Populaires, two little-known models deserve attention: cooperative banks and mutual guarantee companies. These structures are governed by specific rules and operate...Evolution and changes in cooperative banks: between the historical model and the universal bank
Credit unions, Banking and stock exchange lawThe metamorphosis of the cooperative banking sector is currently being examined by lawyers and economists alike. From a model based on community solidarity and mutual aid to major players in the global financial system, cooperative banks have undergone a remarkable evolution while maintaining certain distinctive legal features. The origins of the cooperative banking model The...
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