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The illustrious history of a cooperative and local and regional bank
The Crédit Mutuel Arkéa Group’s history dates back more than 100 years in Brittany and continues today across France and in other countries. Through its Monext and Leetchi subsidiaries, Crédit Mutuel Arkéa provides banking services in Europe.
From the first solidarity-based initiatives to the bank of today
The first Crédit Mutuel savings banks were established in Brittany, southwestern France and the Rhône-Alpes region beginning in 1884. They were inspired by the local German cooperatives created by Frédéric-Guillaume Raiffeisen.
The Crédit Mutuel savings banks laid the groundwork for the cooperative movement in France and, in particular, established the principles of social responsibility, solidarity among members and rootedness in the local community.
In Brittany, more than elsewhere, mutual banking and cooperation found fertile ground with, in particular, the creation of the Office Central in 1911. The role of this entity was to coordinate the action of several agricultural cooperatives and businesses engaged in housing and credit. The Office Central led to the creation of Crédit Mutuel de Bretagne, Triskalia and Mutualité Sociale Agricole.
Although originally geared toward rural customers, the savings banks in Brittany gradually assumed a more general role, addressing the needs of city dwellers as well. The network’s structure slowly evolved, culminating in the creation of the Fédération du Crédit Mutuel de Bretagne (CMB) which, by 1979, served the entire region of Brittany. By then, Crédit Mutuel de Bretagne already financed over 25% of the housing units in Brittany and boasted some 500,000 customer shareholders and clients.
The birth of a banking and insurance Group
In the 1980s, Crédit Mutuel de Bretagne began to expand its line of services to respond to the new needs of customers. At the initiative of Louis Lichou and Yves Le Baquer, the following subsidiaries were created :
Suravenir (life insurance and protection insurance) in 1984,
In 2008, with Jean-Pierre Denis as Chairman of Crédit Mutuel Arkéa and Crédit Mutuel de Bretagne and Ronan Le Moal as Chief Executive Officer, Crédit Mutuel Arkéa introduced a business plan – Horizons 2015 – which set the course of the company's medium-term development. Horizons 2015 placed the Group on a future course of commitment, openness and daring.
Commitment that serves customers, local and regional development and the real economy;
Openness to new businesses and markets, particularly in BtoB activities through partnerships that make sense for the Group;
Daring, by putting innovation at the heart of all its businesses to develop services that enhance its customers' day-to-day lives.
The Group is accelerating its development and rounding out its array of services.
The equity investments in Leetchi (digital money pot and online payments) and Primonial (wealth management) complement and round out the Group’s other products and services.
Arkea 2020 a new business plan
In October 2015, the Group’s Board of Directors adopted a new business plan: Arkéa 2020. Like its predecessor Horizons 2015, this new strategic business plan is designed to strengthen the Group’s original purpose, namely to support and finance the real economy while taking full advantage of the Group’s openness and agility given the changes in its environment.