The Crédit Mutuel local banks: local, democratic structures fostering close relationships

The autonomy of the local banks ensures a fast response

Crédit Mutuel has a bottom-up approach to decision-making. As autonomous, accountable entities, each local bank has the power to make virtually every loan approval decision. This “grassroots” decision-making enables them to react fast and provide services adapted to customer needs.

The Crédit Mutuel local banks are deeply rooted in the local economic and social fabric, as close as possible to their members. They are true decision-making centers that are able to provide quick, personalized responses to loan applications, as well as efficient solutions in terms of banking products, insurance products, real estate loans, consumer loans, etc.

This special way of working fosters trust and enables the local banks to have an ear to the ground, making them the cornerstone of Crédit Mutuel.

General meetings – a forum for dialog

Once a year, each local bank's general meeting is an opportunity for members to get together to review the previous year's activity, approve the financial statements and confirm the appointment or reappointment of the directors who serve on their boards.

The Manager (a Crédit Mutuel employee) and Chairman (elected as a volunteer) of each local bank attend the general meeting as hosts and to answer any questions from members.

These presentations provide comprehensive information on how the local bank is managed and how the money entrusted by its customers and members is used. Crédit Mutuel’s bylaws stipulate that each local bank is autonomous and must report to its members.

Keeping informed and meeting other members

Crédit Mutuel’s general meetings are also an opportunity to review the economic and financial environment. Above all, these meetings provide a forum for active dialog. The bank’s elected representatives and staff are present to answer questions and to take the expectations of members on board.

Members may attend their local bank’s general meeting regardless of their age or the length of time they have been a member. Each year, more than 2,000 general meetings are held in France.

Elected representatives who “decide”

The very structure of its organization makes Crédit Mutuel a different bank on the ground. The decision-making powers at general meetings lie with the members through their elected representatives, not with outside shareholders. These elected representatives, who are volunteers and therefore independent, are present in all of the bank’s structures, chief among them being the local banks’ boards of directors. The board determines the local bank’s general policy, is responsible for its management and oversees its development, alongside the bank’s manager and staff.

Elected representatives in “control”

The elected representatives make decisions and exercise control through another structure specific to each local bank: the “Supervisory Board” (also known as the “Control Committee” or “Supervisory Committee” depending on the region). Every local bank has this type of body, which is tasked with overseeing – on the members’ behalf – the bank’s activities and the conditions under which it is managed. A report on the board’s work is presented at the annual general meeting.

A relationship of trust with a dedicated advisor

At Crédit Mutuel, customers have dedicated advisors who do not work on a commission basis. They offer solutions at each stage of the customer’s life and provide advice that serves the customer's interests only.

Crédit Mutuel has scored very well for many years in specialized “customer relations” rankings. This recognition is a testament to the relationship of trust that exists on the ground between account managers and their customer-members. Crédit Mutuel's success in customer relations is closely linked to its decentralized structure. Its image as a different, unlisted, non-relocatable bank with strong regional roots has gone from strength to strength and remains largely positive. It has forged this image over time, regardless of the economic environment, through its close and attentive relationship with its customers and its consistent ability to anticipate and innovate.