As number two French financial institution, Group BPCE has been created in 2009 by the combination of two retail banking networks: Caisse d’Epargne and Banque Populaire. Its corporate identity focuses on solidarity. This meets social critic requirements which, after 2008 financial crisis, showed a renewed interest for organizations of the social and solidarity economy. We question the historical validity of this professed identity by looking at the origins of both constitutive banks.
The 130 year history of Banques Populaires allows them easily to belong to this cooperatives and mutual societies category relying on democratic principles and on reciprocity between members having equal rights and duties. Nearly bicentennial Caisse d’Epargne belonging to this solidarity economy category is more recent and problematic since its origins are linked to a liberal concept of philanthropy and individual responsibility with a paternalist touch. BPCE transitional identity appears ambiguous enough to allow multiple interpretations but not so ambiguous as to be threateningly unfamiliar to its stakeholders.