Newsletter n°97

NEWSLETTER

FINANCIAL COOPERATIVE OF INTERNATIONAL CIVIL SERVANTS

N° 97 / June 2025

Habemus Papam

A new Pope has risen in the Vatican with a message of peace and origins that span from Americas to Europe. It resonates with our community whose roots and reach are worldwide. On a more “down to earth” note, we are happy to share some information on the coming quarter interest rates, the General meeting as well as the new calendar for shares sale. In those tumultuous times, we (again) remind you that your deposits are guaranteed by Luxembourg law & regulations.

Looking forward to meeting you in June for our annual Assembly

Safeguarding your assets: what you need to know about deposit guarantees

Trust is at the heart of our cooperative commitment. With this in mind, we would like to remind you of the framework for the protection of assets held within AMFIE, and provide you with clarification on the deposit guarantee.

A cooperative structure, a secure model.

AMFIE is a financial cooperative, reserved exclusively for members of intergovernmental institutions. Unlike a bank or credit institution, AMFIE does not itself hold its members' funds. These funds are deposited with recognized banking partners, carefully selected for their soundness and regulatory compliance.

Deposits held in off-balance-sheet accounts.

In practical terms, member assets are held in off-balance-sheet accounts opened in the name of AMFIE, but individualized internally for each member. This means that your deposits are never used for speculation or credit purposes, but remain available at all times.

Guaranteed by our partner banks, covered by the FGDL.

Thanks to our partner banks, our members' funds are covered by the Luxembourg Deposit Guarantee Fund (FGDL) up to a maximum of €100,000 per depositor and per bank.
As a result, your assets benefit indirectly from this protection, as long as they are held with a bank covered by the FGDL - which is systematically the case for the partners chosen by AMFIE.

Prudent management and ongoing transparency.

The security of your assets also relies on the cooperative's rigorous and prudent management. AMFIE applies policies of diversification and controlled selection of its counterparties.

In a nutshell:

- AMFIE is a financial cooperative, not a bank.
- Your funds are deposited in secure off-balance-sheet accounts.
- Deposits are guaranteed by partner banks, up to €100,000 per bank and per depositor, thanks to the FGDL.

If you have any questions about the protection of your deposits or the operation of the cooperative, please do not hesitate to contact our team.
For further information on the FGDL https://www.fgdl.lu/fr/home/

Missions follow-up

Once again, our globe-trotters traveled across Europe to meet employees of intergovernmental organizations. This period was marked by an intense month of May, during which Janine and Svend gave several presentations, both on-site and online, to raise awareness about AMFIE and its services.

Their journey began at the beginning of April in Geneva, with a presentation at the Office of the United Nations High Commissioner for Refugees (UNHCR). They then continued their mission in May, notably at EMBL Monterotondo, where they were able to exchange with local employees in a professional yet friendly atmosphere. Meanwhile, Miguel represented AMFIE in Valencia with UNICTF employees.

Each of these meetings created a genuine space for exchange, where questions, needs and feedback could be shared in a convivial atmosphere.

They are a reminder of how essential the human connection is in our approach. Introducing AMFIE is above all about dialogue, understanding the expectations and needs of employees in organizations, and proposing solutions tailored to their professional reality.

There are more meetings to come, and we look forward to seeing you there!

Important information

Practical note: Adding a beneficiary.

To ensure that your transfers run smoothly, we remind you that it is essential to enter the full first and last name of the beneficiary when entering a transfer.
Banks apply strict rules for checking information, and may refuse or delay a transfer if the information is incomplete (first name only, initials, nickname).
To avoid any complications or unnecessary delays in processing your transactions, we recommend that you always check that the information entered corresponds exactly to the complete identity of the beneficiary.

End of BIL (Luxembourg) cash withdrawals.

Our custodian bank BIL (Banque Internationale à Luxembourg SA) informs us that, following a new policy to improve transaction security and combat certain illegal practices, it will unfortunately no longer be able to allow cash withdrawals at the counter in Luxembourg.
We therefore encourage you to use other means of transaction, such as bank transfers, which are both secure and convenient.
Members wishing to make cash withdrawals can do so using their https://www.amfie.org/fr/carte-de-credit bank card.

Sale of shares.

As part of the evolution of our procedures, we have decided to bring forward by one month the organization of the sale of shares, traditionally scheduled for October. This decision stems from the addition of a new stage to the process, namely the capital increase, which requires additional processing time.

From now on, the sale of shares will take place in September, and information relative to this event will be communicated to members in August.

This reorganization is designed to ensure that the operation runs smoothly with full transparency and as quickly as possible.

Organisation of the Annual General Assembly 2025

The 2024 Annual Report and the video presentation by the President of the Board of Directors and the Statutory Auditor will be available online from Monday June 2.

These documents will provide you with an overview of our financial results and actions over the past year, to help you make your voting decision.

We encourage all our members to cast their votes electronically, via your secure amfie.net platform from June 16 to 27 (web version only).

The results will be announced at the Annual General Assembly, to which all members are invited, on Saturday June 28 at 10:00 am. They will also be published online in the member's area of www.amfie.org from June 30.

For organizational reasons, please confirm your attendance at the AGA with Estelle Sommier.