In 2019, the French deposited an additional 3 billion euros, raising the total outstanding amount to 15.6 billion euros.
Solidarity finance is growing at an impressive rate in France. The total outstanding amount of solidarity savings increased by 24%, making 2019 the best year ever achieved in absolute value. The main contributor in terms of collected sums (9.7 billion euros in 2019, representing 62% of the total outstanding amount) was solidarity-based employee savings, which grew by 21% in 2019. The FCPES (solidarity employee mutual investment funds, reserved for company employees) increased by 22% in 2019, 7 points higher than all FCPEs.
Solidarity-based banking savings accounted for a more modest outstanding amount in 2019 (5.1 billion euros), but it is increasing more rapidly (+29% over one year). In 2019, 810,000 new subscriptions were recorded, almost double that of 2018. In the coming years, life insurance is expected to play an important role in collecting solidarity savings.
Finally, savings invested directly in solidarity enterprises made a leap, rising from 651 million euros in 2018 to 812 million in 2019. This increase of 161 million euros is significantly higher than that of the previous year (103 million euros).
