After a successful collaboration for more than 35 years with Crédit Coopératif, Nef now meets the conditions that allow it to obtain its autonomy. The Prudential Control and Resolution Authority (ACPR) and the European Central Bank (ECB) have thus authorized the termination of the association agreement between the two institutions.
The evolution of a fruitful partnership between pioneers of solidarity finance in France and the emergence of an autonomous ethical actor
Crédit Coopératif, a leading bank in the social and solidarity economy, a pioneer in committed finance, has supported Nef since its creation in 1988, in particular by guaranteeing its liquidity and solvency. Crédit Coopératif has also ensured that it meets its regulatory obligations, as required by the financial authorities until now. This partnership allowed Nef to offer an innovative offer in the field of solidarity finance in France.
36 years later, La Nef's balance sheet exceeds one billion euros, it serves more than 87,000 customers and now meets the regulatory conditions that allow it to become autonomous. Indeed, in June 2022, La Nef submitted a request for autonomy to the banking authorities, which has just been validated, thanks in particular to a record citizen fundraising campaign. This is a historic step for La Nef, which will be able to expand its range of products and services to better meet the needs of its members and French companies.
“With our new autonomy, we will be able to meet the growing needs of our members and of ethical, social and green finance in France.” says Bernard Horenbeek, CEO of Nef. “This is a key moment that allows us to continue our commitment to democratic functioning in the service of ethical and sustainable finance. Today we are happy and proud to share this news with all those who have supported our project, for decades or in the last few hours.”
Crédit Coopératif and Nef welcome this development and remain committed to working together in the future to support the financing and development of the social and solidarity economy.
“We share with La Nef the conviction that finance can contribute to the construction of a more sustainable and fairer society. We are convinced that more and more French people are concerned about the social and environmental impact of their savings and investments. Our network, which is present throughout the country, and our committed banking offers show that it is possible to act with your bank on a daily basis.” explains Pascal Pouyet, CEO of Crédit Coopératif.
About La Nef
Created in 1988 with the aim of exclusively financing ecological, social and cultural projects, Nef is a French citizen banking cooperative approved as a Solidary Social Utility Company (ESUS). Its mission is oriented towards the common good and non-profit. It defends a short money circuit and finances only the real economy, avoiding speculative activities on the financial markets. It has 87,000 customers, including 48,000 members, and has financed more than 8,000 positive impact projects for an amount of 1.3 billion euros.Committed to total transparency, it is the only French financial institution to publish every year, and since its creation, the complete list of the financing it carries out. www.lanef.com and www.jeparticippeaubigbanque.fr
About Crédit Coopératif
Crédit Coopératif is a bank committed to the service of environmental and social transitions. He exercises all the jobs and expertise of a banker and his vocation is to put his skills at the service of actors in the real economy. Historically a cooperative bank for legal persons, its capital is 100% contributed by its customers: cooperatives, SMEs and SMIs, mutual insurance companies, associations, organizations of general interest and the movements that represent them. They thus combine the dual status of customer and member. Thanks to its everyday, solidarity and structured banking products, more and more individuals are also choosing Crédit Coopératif. In 2024, the bank had 408,000 customers. www.credit-cooperatif.coop and www.lepouvoir denousengaging .fr
