10 World’s Biggest Financial Cooperatives

10 World’s Biggest Financial Cooperatives

10 World’s Biggest Financial CooperativesAccording to World Cooperative Monitor Report in 2022, International Cooperative Alliance, there are 10 World’s Biggest Financial Cooperatives in 2020. These financial cooperatives have extensive markets in financial industries and can compete with other finance companies.

In this article, all of the financial cooperatives refers to cooperative banks and credit unions providing banking and financial intermediation services, democratically controlled by member customers (borrowers and depositors). Principally, cooperative is an autonomous organization of persons that unite voluntarily to achieve the same economic, social, and cultural goal and aspirations. These cooperatives basically owned by people (members) and the director, or the supervisor of the cooperative is selected by people (member) as a stakeholder.  

10 World’s Biggest Financial Cooperatives- several biggest financial cooperatives

Of all databases, there are 10 World’s Biggest Financial Cooperatives. Here is the rank of 10 World’s Biggest Financial Cooperatives. All of the data came from “World Cooperative Monitor (Exploring the cooperative economy REPORT 2022)” by International Cooperative Alliance (ICA). All of the ranks was arranged based on the cooperative income of cooperatives in 2020.

The Rank of 10 World’s Biggest Financial Cooperatives

RanksName of Financial Cooperatives Financial Cooperatives Income in 2020
(Billion US$)
1Groupe Crédit Agricole42.93
2Cooperative Financial Network Germany – BVR31.67
3Groupe BPCE25.75
4Groupe Crédit Mutuel20.03
5Mouvement Desjardins13.76
7Navy Federal Credit Union6.93
8RBI (Raiffeisen Bank International)5.93
9Gruppo Bancario Cooperativo Iccrea4.65
10The Norinchukin bank4.17
Source : World Cooperative Monitor 2022, International Cooperative Alliance

Brief Description of 10 World’s Biggest Financial Cooperatives

10 World’s Biggest Financial Cooperatives- brief descriptions

1.Groupe Crédit Agricole            

Crédit Agricole Group is the world’s largest cooperative financial institution in 2020. Financially, in 2020, the banking income of the Crédit Agricole Group reached 42.93 billion US$. Historically, Crédit Agricole was founded in the district of Poligny in the Jura region on 5 November 1894. Operationally, this cooperative has main office in  Montrouge, France.  Based on the labor forces, the cooperative has around 142,159 of employees. Based on its service, Groupe Crédit Agricole has some products and service. Some of the financial products are Retail banking, corporate banking, Investment banking, Private banking, Wealth management, and Asset management.

2.Cooperative Financial Network Germany – BVR

The German Cooperative Financial Group (BVR) is financial cooperative from Germany. Basically, The German Cooperative Financial Group has main office in Berlin, Germany. Historically, this cooperative was created by 50 inhabitants of Öhringen in the Kingdom of Württemberg with the help of Economist, namely Franz Hermann Schulze-Delitzsch. From time to time, along with business development, this financial cooperative has 18.2 million members with 771 of local cooperative banks. Furthermore, this cooperative has 172,334 of Employees. Financially, Cooperative Financial Network Germany – BVR has turnover around 31.67 billion US$

3.Groupe BPCE

Groupe Banque Populaire Caisse d’Epargne or commonly known as Groupe BPCE is financial cooperative that was founded in 2009. Operationally, this cooperative has main office in France. Some of the major network of insurance and bank of Groupe BPCE are Banque Populaire, Caisse d’Epargne, Banque Palatine and Oney.  Along with business development, this cooperative has 36 million of customers. Financially, in 2020, Groupe BPCE has turnover around 25.75 billion US$ with 100,344 of Employees.

4.Groupe Crédit Mutuel             

Crédit Mutuel is a French cooperative banking that has main office in Paris, France. Historically, this cooperative bank was founded in February,1882. Along with business development until 2022, Crédit Mutuel has 36 million of customers with 3,330 of marketing area/office. Based on the financial products, this company has served with Banking, corporate banking, private banking and insurance. Financially, in 2020, Groupe Crédit Mutuel generated banking income around 20.03 billion US$.

5.Mouvement Desjardins          

The Desjardins Group is Canada-based financial cooperative that has main office in Quebec, Canada. Historically, The Desjardins Group was founded by The Desjardins Group in 1900s. Along with business development, this financial group has diversified financial business in Accounts and cash management, Financing and credit, Business projects, Business types, Solutions for merchants, Employer solutions, Insurance for businesses, International services, Investment, Capital markets, Trust services, and Business banking and advice. Financially, in 2020, Mouvement Desjardins generated banking income around 13.76 billion US$.


Rabobank (Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A.) is Netherlands financial cooperative that was founded in 1972. Along with business development from time to time, Rabobank has miscellaneous business units. These include the business area of banking, capital management, leasing, insurance and real estate. Operationally, Rabobank has main office in Utrecht, Netherlands. Financially, in 2020, Rabobank generated banking income around 12.32 billion US$

7.Navy Federal Credit Union     

Navy Federal Credit Union is financial cooperative that has main office in Vienna, Virginia, United States. Historically, Navy Federal Credit Union was founded on March 13th, 1933. Nowadays, Navy Federal has 12 million of members. Furthermore, this cooperative has  some financial services including MakingCents Financial Learning, Navy Federal Investment Services, Business Solutions, and Mobile Banking. Financially, in 2020, Navy Federal Credit Union generated Banking income around 6.93 billion US$.

8.RBI (Raiffeisen Bank International)    

Raiffeisen Bank International (RBI) is Austrian financial cooperative that has main office in Vienna, Austria. the group comprises numerous other financial service providers, for instance in the fields of leasing, and asset management. Financially, in 2020, Raiffeisen Bank International generated 5.93 billion US$.

9.Gruppo Bancario Cooperativo Iccrea  

ICCREA Group was financial cooperative that was founded in 1963. Operationally, this financial cooperative has main office in Rome, Italy. Financially, in 2020, ICCREA group generated banking income around 4.65 billion US$.

10.The Norinchukin bank           

The Norinchukin Bank is Japanese financial cooperative that has main office in Tokyo, Japan. Historically, this financial cooperative was founded in 1923. To Date, Norinchukin Bnak focussed on the three business areas of the Food and Agriculture Business, Retail Business, and Investment Business.  As of March 2022, Norinchukin Bank has assets around 106,138 billion yen with liabilities around 99,692 billion yen. In the year of 2020, the Norinchukin Bank generated banking income around 4.17 billion US$.

Bibliography of 10 World’s Biggest Financial Cooperatives

International Cooperative Alliance. 2022.World Cooperative Monitor (Exploring the cooperative economy). accessed via https://monitor.coop/sites/default/files/2022-11/WCM_2022.pdf on Janury 8th, 2023.

Groupe Crédit Agricole. 2022. Accessed via https://www.ca-cib.com/ on January 11th, 2023.

Cooperative Financial Network Germany – BVR. 2022. Accessed via https://www.bvr.de/Wer_wir_sind/Genossenschaftliche_FinanzGruppe  on January 11th, 2023.

Groupe BPCE. 2022. Accessed via https://groupebpce.com/  on January 11th, 2023.

Groupe Crédit Mutuel. 2022. Accessed via https://www.creditmutuel.com/fr/index.html  on January 11th, 2023.

Mouvement Desjardins. 2022. Accessed via https://www.desjardins.com/ca/  on January 11th, 2023.

Rabobank. 2022. Accessed via https://www.rabobank.com/en/home/index.html  on January 11th, 2023.

Navy Federal Credit Union. 2022. Accessed via https://www.navyfederal.org/  on January 11th, 2023.

RBI (Raiffeisen Bank International). 2022. Accessed via https://www.rbinternational.com/de/raiffeisen.html on January 11th, 2023.

Gruppo Bancario Cooperativo Iccrea. 2022. Accessed via https://www.gruppobcciccrea.it/Pagine/Default.aspx  on January 11th, 2023.

The Norinchukin bank. 2022. Accessed via https://www.nochubank.or.jp/en/  on January 11th, 2023.

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