Inclusive finance

The year 2019 was marked, all over the world, by the proliferation of citizen movements claiming the right to live with dignity and denouncing social inequalities. These mobilizations testify to the extreme fragility of social cohesion in the face of States and economic models which no longer manage to distribute the fruits of growth equitably. The finding is clear: the poverty rate climbed by 0.2 point to 14.3% in 2018, in France, according to INSEE.
Crédit Agricole has long been committed to the fight against poverty and relies on its local roots, in particular through its 8,200 branches in France and 2,100 abroad, to promote better shared economic development. This ambition of social, financial and digital inclusion aims to reduce the risks of social divide within and between territories.

It is based on 3 commitments:

The Group's commitment to the economic development of all players in the regions, without discrimination in terms of income or in terms of social condition, extends to two categories of clientele: individuals on the one hand, businesses (in particular very small businesses, SMEs, micro-entrepreneurs or farmers) constituting the economic fabric on the other hand.

Committed to individuals

The Group's policy has the dual objective of enabling everyone to:

• access to banking and insurance services, essential for any social or professional activity
• while protecting the most financially fragile people, especially with regard to over-indebtedness

This policy is applied in the various businesses of the Group:

Crédit Agricole Consumer Finance, as a major player in consumer credit, has a particular responsibility in the prevention and treatment of over-indebtedness. Present in the over-indebtedness commissions of the Banque de France, the company created in 2013 a customer support agency, whose mission is to take charge of customers presenting signs or criteria of weakness, and identified “at risk of over-indebtedness ”. This agency analyzes and assesses their financial situation, as well as prospects for development, researches and offers customers suitable solutions, in partnership with various external players (in particular the Gateway Points of the Regional Banks) and ensures follow-up.

Within the Regional Banks, LCLs and International Convenience Banks (BPI), the resources implemented relate to:

• The development of entry-level offers, like EKO by CA, LCL Essentiel;
• Access to personal micro-credit, allowing people in a situation of credit exclusion to benefit from a banking service while controlling their budget (partnerships have in particular been forged between ADIE and the Regional Banks);
• Personalized follow-up and support for customers in fragile situations, whether this situation is cyclical (following a life-threatening accident) or structural (LCL Parenthèse national unit, Points Passerelle system of the Regional Banks);
• Education plans, awareness-raising plans for budget management, particularly among the youngest, which may result in the organization of workshops or internships in schools, universities or even social assistance networks or employment in the service of young people (local missions, integration associations, etc.).

Committed to economic players

The policy of supporting the creation and development of entrepreneurship is mainly available in 2 forms:

• Direct financing through the contribution of capital (investment funds) or the granting of credit, in partnership with national or local associations;
• The networking of entrepreneurs through the creation of economic ecosystems or the organization of events.

Companies in the Social and Solidarity Economy (ESS) sector are tasked with responding to certain social challenges such as social integration, housing, health, aid for children or the elderly. Faced with the budgetary constraints of the States or local authorities which are the main funders, these companies also need private funds in order to be able to develop. At the same time, new forms of private enterprise are emerging with a claimed social or environmental purpose (this is the case for many start-ups).

The Crédit Agricole Group aims to contribute to the creation or development of these new companies by offering institutional investors, as well as individuals, investment products with a social or environmental impact. This ambition is reflected in all of the Group's activities: asset management, insurance (life insurance products in particular), investment fund arrangement. It is also reflected in the direct financing of social impact projects by the Foundations existing within the group, in particular the Grameen Crédit Agricole Foundation.

The Group has thus formalized five ambitious objectives in its “Ambitions 2022” strategic plan:

The Group's commitment to the economic development of all players in the regions, without discrimination in terms of income or in terms of social condition, extends to two categories of clientele: individuals on the one hand, businesses (in particular very small businesses, SMEs, micro-entrepreneurs or farmers) constituting the economic fabric on the other hand. 

In addition to its financial support in the form of grants, endowments, scholarships, contributions, etc., the Crédit Agricole group entities provide in-kind donations, skills sponsorship, the provision of premises and human resources, in regions over the whole country but also internationally and in particular in Italy. In France, two Foundations make it possible to amplify the commitment of the Regional Banks by increasing the number of projects supported in the regions.