Crdit Mutuel Arka unveiled new conciliation proposals on Monday and called for a calm discussion with the central body of the mutualist group Crdit Mutuel, from which it has been seeking emancipation since 2018.
To bury the hatchet, Arka, which brings together the Brittany and South-West federations, offers a strategic vto rightthe recognition of free competition between regional groups and one decentralized mode of operation.
In return, the unity of Crédit Mutuel will be preserved and consolidated, underlines Arka in a press release, recalling that he wishes to give every chance of an alternative to disaffiliation. According to Arka, these proposals do not involve any legislative or regulatory changes other than adjustments to the articles of association and can be implemented quickly.
An alternative to disaffiliation
In July, Arka’s board of directors unanimously rejected the first step of reconciliation then formulated by the central body. The dissident boards of directors judged the plans of the time of the central body to be insufficient in substance and inadequate in method.
Arka now believes that if orderly discussions opened on the basis of its new proposals unveiled on Monday, then the mandate given by the board of directors of Crdit Mutuel Arka in 2018 to its leaders could evolve, he indicates in his press release. This mandate tends for the moment towards disaffiliation.
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The press release from the Arka group was released on Monday evening: at this time, the Crdit Mutuel Alliance federale group, dominant within the national confederation of Crdit Mutuel, has not yet responded.
A long politico-judicial soap opera
Since 2018 or even since the end of the 2000s, the Crdit Mutuel group has been torn by a political and legal soap opera between its two main entities, Crdit Mutuel Alliance fdrale and Crdit Mutuel Arka, which has announced its intention to leave the alliance, accused of favoritism. The first, based in Strasbourg, relies on the Crdit Mutuel and CIC networks. Since the beginning of the year, it has brought together 14 of the 18 national federations. The stirring Arka, based in Finistre, brings together the Brittany and South-West federations as well as several specialized subsidiaries, such as the online bank Fortuneo.
The Crdit Mutuel group as a whole claims 36.1 million customers, 83,000 employees and 5,330 points of sale.
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