The Caisses d’Epargne with their strong presence deeply rooted in the local social fabric, are cooperative banks at the service of their respective regions whose essential raison d’être is to contribute to the development of their local and regional economies. 80 % of their capital, and 100 % of their voting rights, are held by Local Savings Companies, which are owned, in turn, by the cooperative shareholders of the French savings banks. Natixis, the joint venture between Groupe Caisse d’Epargne and Groupe Banque Populaire, owns the remaining 20% of the share capital in the form of Cooperative Investment Certificates (CICs) that entitle holders to receive dividends but include no voting rights (which remain entirely local).