By Charlotte GAUCHON
23 March 2025
The 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 on the basis of mutual financial assistance. Cooperative banking societies A precise legal framework Cooperative banking societies are governed by articles L.512-61 to L.512-67 of the French Monetary and Financial Code. They are set up as unions of cooperatives with fixed capital and are subject to the law of 10 September 1947 on the status of cooperation. Crucially, their articles of association must be approved by the Minister for the Economy (article L.512-66 of the CMF). They have the status of credit institutions, which enables them to receive deposits from any natural or legal person. Limited membership...
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