Within the framework of the development of mutual initiatives as regards solidarity economy and the fight against banking exclusion, CMNE, a cooperative bank, has created in 2005 Caisse Solidaire which offers supported personal microcredits to assist people who were refused a bank loan. From year to year, in a dull economic context, the number of microcredit demands never ceases to increase, with over 800 demands per year.
A “microcredit” from CREDIT MUTUEL NORD EUROPE to help people out
6. Clients and consumers
Caisse Solidaire aims to:
- Grant microcredits in order to gain access to essential capital equipment
- Offer a minimum banking service for people facing financial difficulties
- Support people in their social, professional and financial reintegration, in partnership with social structures
A microcredit is granted to a beneficiary who must be supported by a social agency (CCAS, non-profit organisations [NPOs], missions locales…). The principle is to grant them loans ranging from €300 to €3,000 which are repayable over a period of 6 to 36 months “at market rate conditions”.
CMNE’s Caisse Solidaire is run by a general manager, an assistant and a board of directors composed of 11 members (elected representatives from CMNE and external personalities).
A guarantee fund for the solidarity loans is established. It comes from CMNE and the Social Cohesion Fund managed by Caisse des Dépôts et Consignations.
On 31/12/2016, the Caisse Solidaire’s total outstandings reached €1.712 million.
Success due to:
- The CMNE Management’s willingness to carry out this action and to assert its mutual values.
- The team’s involvement in creating and ensuring the sustainability of the structure.
- Support through:
- A network made up of NPOs, companies and local authorities.
- A network of “Ambassadors” composed of Directors of the local Caisses of Crédit Mutuel ensuring an effective coverage of the CMNE network.
- The regular organisation of information meetings on microcredits for Ambassadors and Partners
Best Practice spotted by the World Forum for a Responsible Economy in 2014 and updated in 2017.
CONTRIBUTION TO COMPANY PERFORMANCE
- Rewarding partnerships with the local voluntary sector. In 2016, 234 partnership agreements were active:
- half with centres communaux d’action sociale (CCAS)
- half with NPOs such as Secours populaire, Restos du cœur, Confédération syndicale des familles rurales, Secours catholique…
- Since its creation, over 2880 people were assisted; for a global amount of financial aid of €5.783.000 as of 31/12/2016.
- Aids for employment and mobility remain the main financing subject (80% of the applications) before access to housing (12%).