Crédit Agricole was founded 140 years ago for farmers, on a mutual banking basis and a cooperative structure. In 1894, local farmers’ banks were formed between the members of farming unions, which pledged their responsibility according to the principle of mutualism. They form the basis of the institutional pyramid constructed by Crédit Agricole with the creation in 1899 of the Crédit Agricole Regional Banks to unite them. Determined to work in the interest of society, Crédit Agricole was a player in the transformation of agriculture, the electrification of rural areas and access to banking services for all.
Backed by its 12 million mutual shareholders in 2,383 Local Banks, Crédit Agricole deploys its Universal Customer-focused Banking model based on utility and universality: it meets the needs of every moment in the lives of its customers, from the most modest to the most fortunate, from professionals and SMEs to multinational corporates, over all regions and via all channels, in agencies and online.
Faithful to its mutual banking values, its vocation and its Raison d’être, Crédit Agricole will continue to expand its service area to meet new usages and support its customers in the face of societal and environmental transition issues.
After the First World War, barely 20% of the 38,000 French communes were connected to the electric grid. Twenty years later, 97% were connected, as the State had granted Crédit Agricole the possibility of financing the electrification work for rural communities (Law of 2 August 1923). Equipping villages thus contributed to make progress accessible to all and to fight their desertification. It also marked the beginning of the expansion of the area of Crédit Agricole’s expertise according to the principles of utility, universality and customer focus.
The energy transition requires massive growth in the proportion of renewable and low-carbon energies. In 2019, Crédit Agricole launched its Societal Project and published an ambitious climate transition plan aligned with the targets of the Paris Agreement. It consists of three complementary axes: accelerate the development of low-carbon energies, assists the transitions of customers and society and accelerate the withdrawal from the fossil fuel sector.
A leader in private financing of renewable energy sources in France and one of the world leaders in “green” bond issues, Crédit Agricole is making massive investments and concentrates its financing in the development of low-carbon energies. With Crédit Agricole Transitions & Énergies (Transitions & Energies), it intends to become a regional energy provider and support its customers in their transition.
Crédit Agricole was born in 1885 to mitigate farmers’ difficulties in obtaining credit adapted to production cycles. Since then, its history remains intimately linked to the agricultural world. Crédit Agricole has never ceased to finance French agriculture, both for housing, living conditions and the fight against the rural exodus, as for protection in periods of crisis, the modernisation of operations or the establishment of young farmers, by always responding concretely to the challenges of the sector.
Crédit Agricole assists eight out of 10 farmers and 300,000 farms in France and makes more than 2,000 dedicated advisors available to them. It operates across all areas of need - everyday banking, financing, savings, insurance and risk management and at each stage of life: installation, development, diversification and succession.
In its Societal Project, Crédit Agricole reaffirms its desire to accomplish agricultural and agri-food transitions and works with branches of the sector and public authorities. The Group has already structured three funds, raising to more than €1 billion the financing and investment package that will be allocated to this target.
Since its creation, Crédit Agricole has based its growth on a unique model based on utility and universality. Two principles placed at the centre of its Raison d’être, which guide its actions in the service of all, as well as its commitments to social and regional inclusion. Throughout its history, Crédit Agricole has focused on acting locally to strengthen social cohesion, fight inequality, limit desertification and develop the regions.
A universal bank, Crédit Agricole develops accessible and inclusive banking solutions and services and implements specific actions, for example, for the employment of young workers and the support of those in difficult situations. It also acts for access to housing, for which it is the leading financier in France, and invests in the re-energising of the regions by supporting farmers, entrepreneurs and influential players. In addition, its Foundations and community actions promote social inclusion in France and around the world.
Attentive to changes in society, Crédit Agricole continually develops its offerings to facilitate customer adaptation. In France, although medical desertification is winning ground, and the population is ageing, its new business line Crédit Agricole Santé & Territoires (Health and Territories) is intended to develop access to care and facilitate healthy ageing.
Born 140 years ago in the Jura region of France, Crédit Agricole has continued to grow, first in the service of farmers and then the country, establishing a lasting presence in the regions in the first decade of the 20th century. It participated in the post-war reconstruction, expanded its network and diversified its activities in the 1950s, its area of expertise in the 1960s, and launched its expansion beyond France in the 1970s to assist its customers in the international markets. On the strength of this ongoing expansion, Crédit Agricole became, as the 1990s began, a universal bank serving all sectors of the public.
Crédit Agricole continues to grow thanks to its universal banking model, which is based on a combination of relationship banking and specialised business lines. Present in 46 countries, it provides retail banking services in France and Europe, while its specialised business lines, often leaders in their markets, are becoming consolidators and expanding to serve their customers worldwide.
The 9th largest bank globally based on its balance sheet, Crédit Agricole will continue to expand its footprint to meet the needs of its customers and be able to support them, in all circumstances, regardless of their location.
