Supporting long-term transitions

A growing challenge for social equity and access to care

At the heart of Crédit Agricole’s business model since it was founded, utility and universality are now essential markers in an environment of profound societal changes that generate uncertainty and require support and inclusion for all. These markers find their full expression in the Group’s inclusive societal strategy. 

 

Acting for social inclusion

Crédit Agricole Group aims to serve all its customers and to support those experiencing financial difficulties. In this context, its purpose is to facilitate the accessibility of financial products and services (readability of the offer, adapted pricing, conditions of sale) and multiply initiatives for young people and vulnerable populations. 

Access for all to offers and services

    • The everyday banking offers meet all the needs of all the Group’s customers, including vulnerable customers, for whom access offers preserve essential services at reasonable rates:

      • EKO, distributed by the Regional Banks, starts at €2/month for access to a bank account and most services (payment card, on-line application, access to an advisor etc.). Over 167,000 customers have already signed up for the offer.
      • LCL Essentiel, aimed at budget-conscious young urban working people, had more than 88,500 members at the end of 2022.
      • A new inclusive car insurance policy is offered under the names EKO Auto at the Regional Banks and Primo at LCL. Operated by CA Assurances, it makes essential coverage available to all customers.

    • Offers and services for young people make up a dedicated ecosystem accessible through various channels.

      • For everyday needs, the Globe Trotter offer at €2/month is available to 18-30 year olds.
      • To help facilitate access to bank credit for students in French higher education without a personal guarantee or means testing, Crédit Agricole joined forces with Bpifrance for the second year in a row to offer a government-guaranteed student loan. It allows students under 28 to finance all the costs associated with student life (tuition fees, accommodation, study trips etc.).
      • For home insurance, at the end of 2022, Crédit Agricole Assurances developed a young tenants’ offer at €6/month. Over 3,000 policies have already been purchased.

Youzful, the digital space for youth employment

Youzful is a non-banking Internet platform launched in 2021 and dedicated to guidance and employment for young people. At the end of November 2022, it had a total of: 

  • 2.8 million unique visitors; 
  • 230,000 young people registered; 
  • 1,100 content items (articles, videos, job descriptions etc.); 
  • 700,000 job, training and internship offers; 
  • 400 events organised by the Regional Banks (six job dating seasons, trade fairs, webinars etc.). 

Supporting vulnerable customers and combating over-indebtedness

    • For more than twenty years, the Point Passerelle scheme has been supporting customers (and even non-customers) who have become vulnerable as a result of life events (unemployment, death of a relative, divorce etc.). In cooperation with local stakeholders, it identifies solutions to help them get back to a stable and long-lasting situation. Personal microloans are also offered to those who do not have access to traditional credit to pursue a socio-economic integration project (80% of recipients regained their mobility and 42% found a job).

    • CA Consumer Finance’s Customer Support Agency has existed in France since 2013. It identifies customers who show signs of budgetary difficulties, analyses and assesses their personal situation, and seeks and proposes appropriate solutions, mobilising, if necessary, its partners (Points Passerelle, Crésus association, Crédit Municipal de Paris). By the end of December 2022, 3,762 vulnerable customers in France received assistance from this agency.

    • Fee moderation is the commitment made by the Group’s retail banks to limit the increase in bank fees and charges for individuals to 2% in 2023, and to cap or waive incident fees, depending on the circumstances. Since 1 October 2022, the Regional Banks have also waived transaction and service charges for customers in vulnerable situations who have a specific offer called “CAC(1) Budget Protégé”, which they can use for €1/month (a rate lower than the law’s requirement of up to €3/month).

      (1) CAC : Compte à composer, meaning account to compose

Improving access to care and healthy ageing

Crédit Agricole’s ambition today is to become a benchmark bank in the field of healthcare and ageing well, with a specialised branch to coordinate a health ecosystem around three themes: prevention, care and medical monitoring.

A few words from...

Olivier Gavalda

Deputy Chief Executive Officer of Crédit Agricole S.A. in charge of Universal Banking

The Universal Customer-focused Banking model puts us in direct contact with major societal transformations and we have been supporting these from the outset.

Olivier Gavalda

Help to revitalise vulnerable regions and reduce social inequalities

At a time when local action is becoming the driving force behind economic and social cohesion, Crédit Agricole Group’s historical local presence makes it a key player. Present throughout France with the most extensive network of retail banks, the Group works for the development of regions, working as closely as possible with its customers and local players, civil society and institutions. 

  • 1st

    Leading private investor in equity and quasi-equity capital for companies in France.

  • €375m

    invested in 2022 in three funds for CARD regions, CA Transition and LCL Croissance (total target €700m).

Financing social and solidarity impact

    • The Group’s entities aim to support impact-oriented players, particularly those in the social and solidarity economy (SSE), through various financing methods such as asset management, insurance (including life insurance) and investment funds.

      • Amundi Finance Solidarité fund, a leader in SSE investment in 2022 with €440m in assets.
      • The CA Assurances “Contrat Solidaire” (via its subsidiary Pacifica), the first solidarity-based multi-support life insurance policy that combines savings and social benefits (employment, rehousing, access to health care, waste recycling, etc.).
      • The LCL Impact Sociétal et Solidaire range of socially responsible and solidarity-based funds for retail and private banking customers (see Social Bonds).

    • Crédit Agricole Group’s social bonds are issued according to three priorities: regional economic development, social inclusion and autonomy and access to health care. At the end of 2022, Crédit Agricole S.A.’s corporate portfolio amounted to €3bn in outstandings.

      • In 2022, Crédit Agricole continued to refinance its activities to support balanced social development with institutional investors. In April 2022, the Group distributed its first Impact Sociétal issue to all individual customers of the Crédit Agricole Regional Bank network.
      • Crédit Agricole CIB plays a leading global role in arranging social bonds and was bookrunner for more than €36.4bn in social bonds in 2022.

Promoting entrepreneurial initiatives

Since 1994, the Regional Banks and LCL have been working alongside the major networks that support business creation in France:

  • Initiative France finances entrepreneurs (interest-free loans, guarantee funds). 
  • Réseau Entreprendre is made up of business leaders who volunteer to support and finance entrepreneurs with job creation potential to help them create, take over or grow a business.

  • France Active promotes access for project leaders to the creation (or rehabilitation) of companies with a societal impact.

LCL is also a partner of France Active Garantie, in which it has a 5% stake. In 2022, it financed 136 start-up projects, most of them from people looking for jobs, providing financing of more than €6.7m.

Promoting access to housing

    • To promote access to rental housing, Crédit Agricole S.A., the Fédération Nationale du Crédit Agricole and Action Logement renewed their partnership in November 2022,

    • targeting in particular people who are unable to obtain a deposit or who do not want to ask their family or friends for money (especially young people). The purpose of this project is to develop the visibility of Action Logement’s “Visale” rental guarantee,

    • which is free for young and low-income people, and to offer other customers a guarantee solution to maintain the commitment to universality in the offers.

    • In order to increase the number of social housing units, Crédit Agricole Immobilier has built, as part of its new programmes, more than 4,000 social housing units over the last ten years. Crédit Agricole Immobilier is also developing social and inclusive housing projects for vulnerable people by working with companies or associations in the social economy sector, the ARS (Regional Health Agency), social landlords and local authorities. The developer has already completed about ten operations.

  • Financing social housing through savings

    The amounts deposited by savers in regulated savings accounts (Livret A, LEP and LDDS) are partly centralised in the savings fund managed on behalf of the State by the Caisse des Dépôts et Consignations (CDC). The funds collected by the savings fund are used primarily to finance social housing by the public authorities.

  • €60,645m

    In 2022, the customer assets transferred by the 39 Crédit Agricole Regional Banks amounted to €60,645m.

Being a responsible employer in a citizen company

Crédit Agricole S.A. aims to be a responsible employer over the long term and wishes to promote its brand as an employer through seven themes. 

  • 37.5%

    of women in the Executive Committee of Crédit Agricole S.A. in 2022.

  • 7th

    Disability agreement for the 2023/2025 period.

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