Crédit Mutuel draws on responsible and diversified governance that reflects its membership base and is closely attuned to the priorities of the regions in which it operates.
Diversified governance
The 20,000 directors of the Crédit Mutuel group represent the members who elected them at the local shareholders’ meetings; as natives of their local economies, they are familiar with their specific characteristics.
Recognized for their professional qualities, their attachment to cooperative values and their regional roots, they participate in the bank's decisions, collectively determine the bank's business policies and ensure their implementation. In accordance with the regulations, they also ensure the bank's management of the main risks to which it is exposed, the reliability of its internal control system and the quality of the financial information it provides to members and the public.
Crédit Mutuel ensures that its members are fairly represented on its Boards of Directors, which include representatives from major customer groups. We see the distribution of responsibility to the local level as an advantage, for the granting of loans, for example, where most decisions are taken at the local bank level.
The group is overtly committed to modernize its governance by increasing gender diversity and appointing employee directors. It monitors the representation of women among its elected representatives, regardless of the function or level, and closely supervises reappointments at general meetings.
| Representation among directors | 2022 | 2021 | 2020 | Variation 2022-2021 |
|---|---|---|---|---|
| Number of directors in local banks | 8,181 | 8,082 | 8,349 | 1% |
| Number of directors in federations | 178 | 178 | 168 | 0% |
| Percentage of women among local bank directors | 40.5% | 39.5% | 38.6% | - |
Crédit Mutuel is committed to equipping its directors to perform their duties, and implements special training programs to that end. It focuses especially on supporting young elected directors in the early years of their directorship by giving them in-depth training in the group's business lines.
These programs, many of which lead to certification, go beyond regulatory obligations and reinforce a sense of commitment in the elected representatives. They are organized according to several objectives:
- to give directors the necessary knowledge and expertise to enable them to participate actively in the Board;
- to encourage members to become a director of their local bank;
- to develop digital tools to facilitate and improve upskilling of elected representatives (via online training tools, self-training, etc.).