Crédit Agricole 140 years of history: 1950s - Expansion of the network

 In addition to the existing 5-year notes, regular periodic borrowings were set up to finance the purchase of equipment by young farmers and the modernisation of farms.

Crédit Agricole’s business became increasingly diversified: it could distribute conventional loans to farmers, finance certain public sector works, issue bonds and hold deposit accounts. The increase in the number of transactions and the rising popularity of cheques had an impact on its organisation.

Caisse Nationale poster for a debt issue (1951).

Until then, customers could visit either the premises of the local and regional banks or temporary points of contact set up in villages on market days. There were few staff and often they were volunteers – this was the case for the secretaries of the local banks, who often invited members to their homes to deal with their affairs.

●●●

With the rising number of transactions, the regional banks needed staff and premises. This was the beginning of the mass recruitment of more specialised employees and the creation of a network of offices – the term branches was not used – which gradually formed a dense network across France. Innovative solutions were launched, such as banking trucks to serve remote villages, and direct marketers to visit customers at home and identify their needs as effectively as possible.

The end of the decade saw a further extension of the scope of action, which had a major impact: from 1959, Crédit Agricole was able to finance housing for all people in rural areas and no longer just farmers. This quickly elevated it to the position of leader in this area.