Organization of Crédit Mutuel Alliance Fédérale
Crédit Mutuel Alliance Fédérale is organized around:
- A mutualist division comprising about 1,500 local Crédit Mutuel local banks, 13 regional banks, 14 federations and the Caisse Fédérale de Crédit Mutuel (CFCM),
- The Banque Fédérative du Crédit Mutuel (BFCM). It directly or indirectly holds the group’s subsidiaries such as the CIC group (including the holding, the retail regional banks and corporate activities) and the specialised entities, both in France (e.g. Banque Européenne de Crédit Mutuel) and abroad (e.g. Targobank in Germany or Beobank in Belgium).
Local level: Crédit Mutuel local banks
Crédit Mutuel local banks form the basis of the banking network of the mutualist division, also known as the "bancassurance network of Crédit Mutuel banks".
These local banks perform the retail banking functions: they collect savings, grant loans and provide members with products and services tailored to their individual needs. Their capital is held by the members (sociétaires), who are also customers.
The local banks have the status of cooperative credit companies with variable capital and limited liability or cooperative associations with limited liability. Each local bank operates autonomously and acts locally.
2,164 branches organized in 1,464 local banks
6.2 million members (sociétaires)
15,500 elected members
Regional level: Federations and the Caisse fédérale de Crédit Mutuel
The federations are entities with the status of associations to which the local banks must belong. Political bodies, they determine the group’s main strategic orientations, and organize the solidarity between the banks.
They represent Crédit Mutuel in their region.
These federations have gradually established partnerships approved by the supervisory bodies, which have resulted in Caisse Fédérale du Crédit Mutuel Centre Est Europe becoming a joint bank: Caisse Fédérale de Crédit Mutuel (CFCM).
Caisse Fédérale de Crédit Mutuel
Caisse Fédérale de Crédit Mutuel (CFCM) is a corporation with the status of a cooperative banking company (société anonyme à statut de société coopérative de banque). It is responsible for all services common to the network and ensures its coordination. CFCM centralizes all the local banks’ deposits and in parallel ensures their refinancing, while fulfilling regulatory requirements on their behalf (compulsory reserves, allocated deposits, etc.).
CFCM has used its financial and logistical support resources on behalf of the banks of the 13 other federations through partnership agreements signed between 1993 and 2022.
On a regulatory, technical and financial level, CFCM holds a collective license to operate as a credit institution that benefits all the local banks affiliated to it in line with the French Monetary and Financial Code.
As at December 31, 2022, Crédit Mutuel Alliance Fédérale had 14 member federations: Crédit Mutuel Centre Est Europe, Crédit Mutuel Île-de-France, Crédit Mutuel Midi-Atlantique, Crédit Mutuel Savoie-Mont Blanc, Crédit Mutuel Sud-Est, Crédit Mutuel Loire-Atlantique et Centre-Ouest, Crédit Mutuel du Centre, Crédit Mutuel Normandie, Crédit Mutuel Méditerranéen, Crédit Mutuel Dauphiné-Vivarais, Crédit Mutuel Anjou, Crédit Mutuel Massif Central, Crédit Mutuel Antilles-Guyane and Crédit Mutuel Nord Europe.