4 ms·
I'd guess that being in a niche brings you a better understanding of the environment but the downside is that if that niche tanks, you're toast. Credit unions
by karambahh 8y ago
I'd guess that being in a niche brings you a better understanding of the environment but the downside is that if that niche tanks, you're toast.
Credit unions (or their closest form) in Europe, (co-op banks and various incarnations such as Sparkasses or Caisses d'Epargne) are now spreading their risks, and to alleviate the geographical niche issue merged together (several dozens Caisses d'Epargne in France 15 years ago, about ten now for instance).
Other forms of pseudo co-op banks such as Credit Agricole (which started as a network of farmers credit unions) or Caja Rural are now banking behemoths doing everything from retail banking to investment, HFT: Credit Agricole is now probably in the top 10 largest banks worldwide.
- karambahh 8y agoCredit Agricole recently entered the top 10, as per their own PR: http://credit-agricole.ro/en/2018/05/23/credit-agricole-enters-the-top-10-largest-banks-worldwide-by-assets/ http://credit-agricole.ro/en/2018/05/23/credit-agricole-ente...
- cbnotfromthere 8y agoThis is incredibly sad. I've used CA in France and it was a very miserable experience, even by French banking standards (which on themselves are surprisingly low). I'm using them in Egypt and it's a shitty experience too. Better than French CA, better than most government-owned banks in Egypt, but still shitty.
- karambahh 8y agoI've heard many horror stories about CA personal banking in France (bank transfer taking ages, random charges appearing/disappearing etc). Their offer towards startups "Le Village By CA" seems, however, interesting.