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Le Crédit Coopératif

Le Crédit Coopératif. The bank of the Social Economy sector in France. GROUPE BANQUE POPULAIRE. Le Crédit Coopératif: Banque coopérative nationale. Crédit Coopératif was set up in the end of 19 th century by its cooperators in order to get access to credits.

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Le Crédit Coopératif

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  1. Le Crédit Coopératif The bank of the Social Economy sector in France GROUPE BANQUE POPULAIRE

  2. Le Crédit Coopératif: Banque coopérative nationale • Crédit Coopératif wasset up in the end of 19th centuryby its cooperators in order to get access to credits. • Since 2003, Crédit Coopératif is a banking group under the umbrella of the Group of French Popular Banks(Groupe Banque Populaire). • Its mission is determined as follows: « A specific Popular Bank with the nationwide focus to invest in particular into the sector of Social and Solidarity Economy.» GROUPE BANQUE POPULAIRE

  3. Individual clients’ sector • Classical banking products • Ethical and solidarity banking productsSome examples: • The affinity card “Carte AGIR” • The microcredit agreement in Gironde county • The mutual savings fund “Faim et développement” • The investment fund “Choix solidaire” • The mutual guarantee fund “Garantie Solidaire” GROUPE BANQUE POPULAIRE

  4. « Carte AGIR » • … is an affinity card • … is a “classical” banking card (Visa/Carte Bleue) that provides add-on solidarity benefits. • … costs its card holder as little as a traditional card ofCrédit Coopératif (without any extra costs). • … makes Crédit Coopératif donating a fixed amount of 3 EUR plus 6 eurocents for each cash withdraw at any ATM on the benefit of a NGO of the card holders’ choice. GROUPE BANQUE POPULAIRE

  5. « Gironde microcredit agreement» • … is an agreement of the Secours Catholique (Caritas)and Crédit Coopératif in Gironde county, France. • … aims to provide access to loans to persons in difficulties (conditions: applicant may not have any debts, a salary between 500 and 1000 EUR). • … offers loans between 500 and 3000 EUR with an interest rate of 4-8%, installments <100 EUR and no insurance necessary. • The loans are backed by a guarantee of the Secours Catholique (Caritas). Loan decisions are commonly taken by Crédit Coopératif and theSecours Catholique. GROUPE BANQUE POPULAIRE

  6. « Faim & Développement » • … stands for “Hunger and Development”. • … is a mutual saving fund. It is the first investment product in France dedicated to solidarity. • … was set up in 1983 by Crédit Coopératif on initiative with the French NGO Catholic Committee Against Hunger and for Development (CCFD). • … makes the subscriber donating 50% or 75% of his/her earnings to an NGO. • … allows tax deductions to the subscriber. • … has generated >20M EUR in donations. GROUPE BANQUE POPULAIRE

  7. « Faim & Développement » 2 The tax advantage: • Basket 1donation of a part of the revenueExample 1: coupon distributable 2005 = 2€ (50%) 1€ reinvested into the fund 2€ tax: ~0,27 € 1€ donation to CCFD Real cost for the subscriber : : 0,52 € tax deduction: 0,75 € • Basket 2portfolio donation (donation of shares => no immediate tax imposition)Example 2: performance 2005 = 2 € (50%) 2 € 1 € donation to CCFD tax deduction: 0,75 € Real cost for the subscriber : 0,25 € GROUPE BANQUE POPULAIRE

  8. « Choix solidaire» 1 • … is a mutual fund which combines a solidarity-based approach and a socially responsible investment policy • … is available to everyone: private individuals, corporate bodies and save-as-you-earn schemes • Performance objective: basic savings account rate  (Livret “A” + 1.5% per year, i.e. 4.25% at the moment) • Recommended period of investment : 2 years GROUPE BANQUE POPULAIRE

  9. « Choix solidaire» 2 • Outstanding portfolio: 35M EUR • Almost 10% of the fund is invested in European solidarity-based organisations (currently 2,3M EUR invested into 13 projects) • A maximum of 35 % of the portfolio is invested in listed Euro zone equities • The rest of the portfolio is invested in bonds • Securities within these two latter asset classes are selected according to the criteria of a social responsible filter GROUPE BANQUE POPULAIRE

  10. « Choix solidaire» 3 • The solidarity-based economy is a dynamic sector composed of firms, NGOs, co-operatives and mutual insurance companies. • The French Administration grants “Solidarity” agreements to firms that meet at least one of the two following requirements : • They employ at least 1/3 of disabled persons or long term unemployed people • The firm chairman is elected, with a maximum compensation level • In Europe, Crédit Coopératif relies on the European Federation of Ethical and Alternative Banks (FEBEA) to find potential solidarity investments. GROUPE BANQUE POPULAIRE

  11. « Choix solidaire» 4 • Main solidarity-based investment themes : • Micro finance (ADIE, NEF) • Non-profit healthcare organisations (Pierre Angulaire, BFS), • Real estate for the very under-privileged (Habitats Solidaires), • Help to small business creation (BGP, Garrigue), • Help to disabled people (Websourd), • Fair trade (Alter Eco) GROUPE BANQUE POPULAIRE

  12. « Garantie solidaire » 1 • … was created to support the credit activity of FEBEA members • … is open to non-members structures, involved in the field of social economy • … aims to support a large number of social, ethical and alternative credit institutions • … is a flexible and adaptative multi-level mutualisation system: • Mutualised fund (section A) • Sponsorship deposits (sections B) • Multi-sectoral and multi-country tool, to ensure a good statistical diversification of the risk • Initial funding: 1 000 000 EUR GROUPE BANQUE POPULAIRE

  13. « Garantie solidaire » 2 B B a a Sponsorship a a a a Initial grant a a a B Subscriptions “a”  for each project covered Sponsorship GROUPE BANQUE POPULAIRE

  14. « Garantie solidaire » 3 GROUPE BANQUE POPULAIRE

  15. End Titre générique du document CREDIT COOPERATIF …as its name indicates www.credit-cooperatif.coop GROUPE BANQUE POPULAIRE

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