Retail banking,
the group’s main business line
Retail banking is carried out through the group’s networks in France and Europe:
CréditMutuel, CIC, Banque Européenne du CréditMutuel, Targobank in Germany and Spain, Beobank in Belgium, Cofidis Group Participations and Financo for consumer credit.
It also includes the specialized businesses whose products are marketed by the networks.
The Crédit Mutuel group has 36.6million customers, 33.6million of whom are private individuals.
The bank for individuals
With 33.6million individual customers, the CréditMutuel group has made innovation the focal point of its development strategy.
Solutions and services tailored to the needs of the entire family with a broad range of savings products, real estate and consumer loans to help them finance their projects, and property and personal insurance products.
The key to its success: the trust of its customer-members
With the number of new financial and payments operators on the rise, CréditMutuel is aware that the key to its success and the strength of its model reside in the trust placed in it by its customers, and first and foremost by its members. Today's consumers can choose from a wide range of products offered across many channels. That is why CréditMutuel keeps evolving to ensure that the quality of the relationship built over time becomes the main criterion that differentiates it from its competitors.
Sustainable development, at the heart of its practices
CréditMutuel, whose practices are built around sustainable development, offers its customer-members a range of solutions that allow them to save, protect their families and property, purchase a home, spread out their expenses and finance renovation projects, particularly those aimed at lowering energy costs.
Services tailored to the needs of young people
The quality and performance of the technology services offered in the areas of account management on its websites and mobile devices, remote home surveillance, electronic payments and mobile phone services keep CréditMutuel ahead of the curve to the advantage of its customer-members. The group also strives to better serve those who are most vulnerable or lack access to banking services by anticipating difficulties and supporting customers throughout their reintegration process.
Services tailored to the needs of young people
Teaching day-to-day banking skills, encouraging saving from an early age, supporting young people along the road to independence and working life: such are the principles underlying the group's banking products for the under 30s, who represent nearly 30% of the CréditMutuel and CIC retail customer base.
Sociological changes, particularly later entry into working life, have led the group to adapt its product offering aimed at young people. Focusing on the under 29s, it takes into account concerns associated with starting work and is suited to a range of career paths and lifestyles.
With tailored products, services and prices, this flexible solution offers card choices, remote banking and advantageous lending terms, as well as banking and medical assistance services abroad in response to the growing trend in international exchange and mobility.
Made specifically with young people in mind, it includes non-banking services available to everyone and provides useful information and advice on course and study choices to address concerns of 18 to 29 year olds in terms of work, housing, health, mobility, money and leisure..
In some of the national federations, the group’s young customers have access to additional assistance with initial careers advice and finding internships, work-study programs and summer jobs. There is also help available with finding a first job and career management, aas well as practical information. Every effort is made, at each key stage, to make young people's transition to independence as easy as possible.
Support that fits seniors’ lifestyles
The group offers those "aged 50 and over" products and services tailored to whatever their situations, needs and interests are.
A specific needs approach
These customers have very different situations – and therefore very different needs – depending on their age, life course, family and professional life and state of health. They include the baby boom generation, which has now retired in large numbers and whose behaviors are different from those of previous generations. The group offers all these customers a wide array of tailored banking, insurance and other products and services.
Borrower's insurance in case of death as well as certain types of health insurance, including vision and dental care, are tailored to changes in healthcare consumption with aging. To address issues related to aging, loss of autonomy and the desire to remain socially connected and continue living at home for as long as possible, the group offers long-term care insurance policies. It also offers a remote assistance service that allows customers equipped with an alert device to access a live person for tailored support in case of an emergency, 24/7, ensuring peace of mind for customers and their loved ones.
Seniors particularly appreciate the support and advice they receive from the network during important phases or events in their lives (preparation for retirement, moving or adapting their homes, supporting elderly parents, inheritance/gifts, etc.). Along these lines, CréditMutuel shares its tips with readers of NotreTemps magazine, in which an expert from the group addresses bankinsurance issues directly related to their concerns each month.
See our products and services for individual customers (in french)See our products and services for young people (in french)
The bank for non-profit organizations
Specific banking products and an ongoing presence among families and community-based federations at the local, regional and national levels help make CréditMutuel the partner of choice for non-profits and underpin its continued expansion in this segment.
Creating new forms of solidarity
The specific offering has always included advice and expertise in the non-profit sector to meet skills and information requirements, secure non-profit projects, and help directors assume their responsibility and deal with any problems they encounter.
Tools such as the associatheque.fr website are made available to all non-profits, from the smallest based on volunteer work to the largest management organizations, to help with legal, tax, social, financial, organizational, governance and day-to-day management issues.
To better understand the environment in which directors of non-profit organizations operate, their missions, their constraints and the problems associated with renewing governance bodies, CréditMutuel finances research and studies on volunteer work, including the France Bénévolat-Ipsos survey on volunteer engagement in France and the research conducted by Viviane Tchernonog at the Sorbonne (University of Paris 1) and Lionel Prouteau at the LEMNA laboratory (University of Nantes), in partnership with "La Fonda", available on the associatheque.fr website.
See our products and services for non-profit organizations (in french) See our non-profit initiatives
The group working alongside businesses
In 2022, CréditMutuel group assisted businesses of all sizes, both with their investments and their day-to-day operations.
The CréditMutuel group continued to review cases submitted by the credit ombudsman: on the whole, mediation has fallen considerably over the past seven years, a trend underpinned in 2022 by the State aid mechanisms introduced for businesses in response to the Covid crisis. At the CréditMutuel group, 35% of cases submitted have achieved a successful outcome since the credit ombudsman was first introduced in 2009. This is evidence of the pragmatic approach taken to such cases and the degree to which our teams truly understand the situation on the ground: in many cases, particularly those involving very small businesses, the mediator confirmed the decision taken by the Group’s banks, CréditMutuel or CIC.
See our products and services for business customers (in french)
Livret A/Bleu/LDDS: the group has provided substantial financing to SMEs
Livret A, Livret Bleu and LDDS (socially responsible sustainable development) passbook savings accounts continue to provide security and liquidity in an uncertain economic environment marked by the war in Ukraine. Deposits in these tax-except accounts amounted to €86.5billion at the end of 2022, bringing the Group’s market share to 16.7%. We amply met our regulatory obligations governing the use of the non-centralised portion of these deposits: outstanding loans granted by the Group to finance SMEs and energy efficiency work on old properties were twice as high as the non-centralised deposits remaining on the balance sheet (a252% utilisation rate).
View the annual report on the use of non-centralized LivretA and LDDS funds - 2022 (in french)
No. 2 bank for the farming sector
With 17% of the medium and long-term loan market at the end of 2020, CréditMutuel is the second-largest bank for the farming sector.
A bank that works closely with farmers
For more than 20 years, CréditMutuel has supported farmers throughout France. It is involved at all stages of the farming process, including for both wine and agricultural production.
Its financing solutions provide fast, appropriate responses to the full spectrum of farming projects. Some loans offer flexible repayment schedules. Other solutions involve offering farm equipment financing directly through dealers. Farmers have access to a range of short-term cash facilities to cover urgent financing needs. These loans can be distributed directly through the trading companies that market farmers’ production. In terms of investments and cash management, Crédit Mutuel offers an array of products that allow customers to balance requirements related to asset availability, profitability and security.
A range of products and services are available. For example:
- life insurance solutions for farmers, their partners and family helpers to ensure steady additional income during retirement;
- a range of products to help farmers build up a rainy day fund;
- access to essential farming information on Crédit Mutuel's dedicated website agri-mutuel.com
See our products and services for farmers (in french) Learn about our initiatives in the farming sector
A group working alongside local authorities
CréditMutuel is a leading financer of local and regional authorities, with a market share of more than 10%.
Dynamic partnerships
With local towns Crédit Mutuel's core target, the bank has partnered Association des Petites Villes de France (APVF), the national small cities body. On the initiative of its Chairman, Nicolas Théry, CréditMutuel has also formed a strategic partnership with Régions de France, the organisation representing France's regions. And it has joined forces with the local public enterprises federation Fédération des Entreprises publiques locales to develop banking solutions for the mixed economy.
A comprehensive offering
CréditMutuel offers a full range of products to help local authorities finance their infrastructure and management. It also provides them with mobile phone services, remote security for municipal facilities, land development services, insurance products for local government employees, vehicle fleet management and leasing solutions.
A partner group to the social housing sector
CréditMutuel is one of the most active banks for financing low-income housing. It is the leading distributor of rent-to-buy loans (Prêt Social de Location-Accession (PSLA)), accounting for nearly a third of the share reserved for banks.
Innovative partnerships
CréditMutuel has entered into a partnership with Action Logement to develop various cooperation agreements in social housing sales, Actions Cœur de Ville, a programme to boost medium-sized towns, intermediation for lending to individuals and products and services for vulnerable customers.
The group has also signed an agreement with Fédération des Coopératives HLM the federation of social housing cooperatives, to develop the financing of the Bail Réel Solidaire (BRS) affordable housing scheme and support for cohousing.
A comprehensive offering to support social housing
- A range of tailored financing solutions: subsidised rental loans (PLS), rent-to-buy loans (PSLA), loans to real estate developers and bank guarantees.
- Cash management products: term deposits, SICAV, FCP, LivretA, passbook accounts, etc.,
- Receipts management products,
- Unpaid rent management products.
Figures 2022
Last update: 03/09/2023
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Retail Banking
Retail banking refers to the services provided by banks to individual customers or small businesses. It involves activities such as accepting deposits, granting loans, and offering various financial products and services. Retail banking is the main business line of the Crédit Mutuel group, which operates through its networks in France and Europe, including Crédit Mutuel, CIC, Banque Européenne du Crédit Mutuel, Targobank, Beobank, Cofidis Group Participations, and Financo [[1]].
Crédit Mutuel Group
The Crédit Mutuel group is a financial institution that serves 36.6 million customers, with 33.6 million of them being private individuals. The group focuses on innovation and tailoring its solutions and services to the needs of its customers. It aims to differentiate itself from competitors by building strong relationships with its customers based on trust [[1]].
Sustainable Development
Crédit Mutuel incorporates sustainable development practices into its operations. It offers solutions that allow customers to save, protect their families and property, purchase homes, finance renovation projects, and lower energy costs. The group also provides services tailored to the needs of young people, including teaching day-to-day banking skills, encouraging saving from an early age, and supporting them in their transition to independence and working life. Additionally, Crédit Mutuel offers support and tailored products for seniors, addressing their specific situations, needs, and interests [[1]].
Non-Profit Organizations
Crédit Mutuel is a partner of choice for non-profit organizations. It offers specific banking products and services tailored to the needs of non-profits. The group provides advice, expertise, and tools to help non-profits with legal, tax, social, financial, organizational, governance, and day-to-day management issues. Crédit Mutuel also supports research and studies on volunteer work and collaborates with organizations in the non-profit sector [[1]].
Business Customers
Crédit Mutuel provides assistance to businesses of all sizes, supporting their investments and day-to-day operations. The group reviews cases submitted by the credit ombudsman and aims to understand the situation on the ground to achieve successful outcomes. Crédit Mutuel offers various products and services for business customers, including financing options and cash management solutions [[1]].
Livret A/Bleu/LDDS
Crédit Mutuel offers Livret A, Livret Bleu, and LDDS (socially responsible sustainable development) passbook savings accounts. These accounts provide security and liquidity in an uncertain economic environment. The deposits in these accounts amounted to €86.5 billion at the end of 2022, and the group has met regulatory obligations governing the use of the non-centralized portion of these deposits. The group has provided substantial financing to SMEs and energy efficiency work on old properties [[1]].
Farming Sector
Crédit Mutuel is the second-largest bank for the farming sector, with a 17% market share in the medium and long-term loan market. The group supports farmers throughout France, offering financing solutions for agricultural and wine production projects. Crédit Mutuel provides loans with flexible repayment schedules, farm equipment financing, short-term cash facilities, and a range of products for investments and cash management. The group also offers life insurance solutions for farmers and access to essential farming information through its dedicated website [[1]].
Local Authorities
Crédit Mutuel is a leading financer of local and regional authorities, with a market share of more than 10%. The group works closely with local towns and partners with organizations representing France's regions and local public enterprises. Crédit Mutuel offers a comprehensive range of products and services to help local authorities finance their infrastructure and management, including mobile phone services, insurance products, land development services, and vehicle fleet management [[1]].
Social Housing Sector
Crédit Mutuel is actively involved in financing low-income housing and is the leading distributor of rent-to-buy loans. The group has formed partnerships with Action Logement and the Federation of Social Housing Cooperatives to develop various cooperation agreements in social housing sales, intermediation for lending to individuals, and support for vulnerable customers. Crédit Mutuel offers a range of tailored financing solutions, cash management products, and receipts management products for social housing [[1]].
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