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Crédit Mutuel is a French cooperative bank, with headquarters in Strasbourg, Alsace. Its slogan is "La banque à qui parler" (The bank to speak to). It is currently run by Daniel Baal and has 7.4 million customers – roughly half of whom live in the Grand-Est, i.e. Alsace, Lorraine, Franche-Comté and Burgundy. It is a member of the International Raiffeisen Union (IRU), which is an association of cooperatives based on the ideas of Friedrich Wilhelm Raiffeisen.[1]

Crédit Mutuel
Credit union
IndustryFinancial services
Founded1645; 374 years ago (1645)
Headquarters,
Area served
Worldwide
ProductsBanking, Corporate banking, Private banking and insurance
Revenue€1,465 million (2016)
€4,546 million (2016)
€11,977 million (2016)
Number of employees
99,012
Websitecreditmutuel.com

ControversyEdit

In 2010 the French government's Autorité de la concurrence (the department in charge of regulating competition) fined eleven banks, including Crédit Mutuel, the sum of €384,900,000 for colluding to charge unjustified fees on check processing, especially for extra fees charged during the transition from paper check transfer to "Exchanges Check-Image" electronic transfer.[2][3]

See alsoEdit

ReferencesEdit

  1. ^ "Archived copy". Archived from the original on 2013-11-05. Retrieved 2014-05-18.CS1 maint: archived copy as title (link)
  2. ^ Collusion in the banking sector, Press Release of Autorité de la concurrence, République Française, 20 September 2010, retrv 2010 9 20
  3. ^ 3rd UPDATE: French Watchdog Fines 11 Banks For Fee Cartel [permanent dead link], Elena Bertson, Dow Jones News Wires / Wall Street Journal online, retr 2010 9 20

External linksEdit