Social solidarity

Social solidarity: a raison d’être and a state of mind

Social solidarity is one of the essential founding principles of cooperative banks.
It forms the very heart of the business activities pursued by the Groupe BPCE, the top-ranking banking institution in France for solidarity-based finance. This solidarity finds expression at a grassroots level in the host of initiatives supported by the Group’s retail networks and their cooperative shareholders.

N°1 for solidarity-based savings

Faced with the economic crisis, solidarity-based finance creates a responsible and socially aware dynamic. According to the 7th Barometer survey of solidarity-based finance*, it made it possible to create 20,000 new jobs and to house 1,500 families in 2008.

• The Groupe BPCE is the No.1 collector of solidarity-based savings in France, working through the network of Crédit Coopératif (the front-ranking player in this area) in addition to the networks of the Caisses d’Epargne, Banques Populaires and Natixis Interépargne, the No.1 specialist in solidarity-based employee savings schemes in companies. Together, they collected savings worth an aggregate €940 million in 2008, equal to 57.5% of the national total*.
• Natixis Asset Management is the No.1 manager of solidarity-based FCPEs (employer-sponsored mutual funds) in France with aggregate deposits of €225 million at the end of 2008 and, more generally, the No.1 specialist of SRI** management with funds worth a total of €4.5 billion at the end of 2008.

N°1 for microcredit

The combined results of the Caisses d'Epargne and the Banque Populaire banks in 2009 confirm Groupe BPCE's position as the No.1 French bank for personal and professional microcredit solutions accompanied by support measures. The French savings banks boast a market share of 40% with individual customers, having granted 3,000 new loans representing aggregate outstandings of nearly €6 million. The Banque Populaire banks are the market leaders in the professional microcredit segment, having granted over 6,000 loans to the creators of micro-companies in 2009 for an aggregate total of almost €17 million. For these two types of microcredit, the Crédit Coopératif subsidiary makes a decisive contribution to an activity that meets new economic and social needs; this type of financing has increased overall by 25% in volume in the space of the past year.

Committed to the struggle against exclusion and excessive debt

It has been estimated that 5 million people in France are confronted with financial difficulties. With the creation of the Agence Solidarité advice center, the Parcours Confiance support program, the Finance & Pédagogie association, the Banque Populaire banks and Caisses d’Epargne have developed innovative solutions to combat exclusion from banking and financial services and to prevent over-indebtedness.

Banks actively committed in their respective regions

In 2008, the Banque Populaire banks and the Caisses d’Epargne invested almost €87 million in actions designed to promote social solidarity through more than 3,000 solidarity projects.

For further details :
> The commitment of Banque Populaire
> The commitment of Caisse d’Epargne

And also... The regional initiative awards... The ‘Coups de Cœur de la Solidarité‘ most-favored solidarity projects... The voluntary work ‘Oscar’ Awards ... The ‘Roads to Entrepreneurship‘short films ...

* 6th report published by Finansol - La Croix - Ipsos 2008/2009
** Socially Responsible Investment – Source: Natixis Asset Management at December 31, 2009, in open and dedicated funds, and employee savings schemes.