A bank owned by its customers, that changes everything!
Crédit Mutuel is an unlisted mutualist and cooperative bank whose capital belongs to its members in the form of cooperative shares. Each Crédit Mutuel customer has the option of subscribing for shares in their local Crédit Mutuel cooperative bank, which will make them a member and hence a co-owner of its share capital.
Unlike traditional banks, Crédit Mutuel local banks do not distribute surpluses to shareholders, but instead fully allocate them to consolidated own funds. This tried-and-tested mutualist model – even in times of crisis – has made Crédit Mutuel one of the strongest banks in Europe.
What does it actually mean to be a member?
By becoming a member of a Crédit Mutuel local bank, you will be an essential cog in the organization and running of your bank.
Crédit Mutuel’s mutualist organization means that elected members of the local banks participate in the board meetings of regional and national organizations.
This enables the local banks to pool their resources and mutually support each other, while retaining their decision-making powers. Crédit Mutuel belongs to its customer-members and acts in their collective interest and in the interest of society as a whole.
What can I gain from becoming a member of a local bank?
Being a member of your local bank means being both a customer and a co-owner of that bank, and holding a vote at the annual general meeting under the cooperative “one member = one vote” principle.
A number of benefits are highlighted by the members themselves. For many, it is a question of defending a more ethical and solidarity-based economic model that seeks to promote individual initiatives in the collective interest.
How can I become a member?
To become a member, all you have to do is subscribe for one or more class A cooperative shares for a minimum amount of €15. These shares will give you member status and allow you to take part in your bank’s general meetings and make your voice heard.
No dividends are paid out on class A shares. Members may redeem all or some of their A shares at any time by contacting their local bank1. No fees are charged for subscriptions or redemptions of class A shares. The member’s liability is limited to the nominal value of their A shares.
You may subscribe for class A shares by contacting a Crédit Mutuel advisor. Above all, being a member means sharing the values of your bank, which are based on solidarity, proximity, responsibility and eco-citizenship.
As a member, you can:
Learn
about how your local bank operates and how it is run at general meetings.
Voice
your opinion on the main directions taken by the bank.
Elect representatives
who will defend the collective interests of the bank and contribute to the vitality oh the local community.