Type Société Anonyme Area served Worldwide Website creditmutuel.com Headquarters Strasbourg | Industry Financial services Number of employees 99,012 Revenue 1.465 billion EUR (2016) Net income 11.98 billion EUR (2016) | |
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Products Banking, Corporate banking, Private banking and insurance CEO Alain Fradin (20 Oct 2010–) Founded 1882, La Wantzenau, France Subsidiaries Banque Federative du Credit Mutuel Profiles | ||
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Crédit Mutuel is a major French bank, with headquarters in Strasbourg, Alsace. Its slogan is "La banque à qui parler" (The bank to speak to). It is currently run by Michel Lucas and Alain Fradin 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.
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Controversy
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.