Rabobank Group's co-operative identity is more
than just a historical fact. It is a vital force that
enables the Bank to achieve its market leader
ship ambition for its members and clients.The
members are Rabobank's true capital.Their
direct influence on the course taken by the local
Rabobanks ensures innovation of the products
and services offered as well as of the Bank's role
in society.
Strong growth in membership
Greater engagement among members
22 Rabobank Group Annual Report 2002
Membership policy
Members are extremely important to the Rabobank. On the one
hand, they are needed for a proper fulfilment of the local co-opera
tive function and for improvement of the Bank's services, and on
the other hand, members on average use more services and their
loyalty is greater than that of other clients.
In 2002 Rabobank strengthened the co-operative's foundation in a
number of ways. After the strong growth in membership from
550,000 to 825,000 (+50%) in 2001, membership increased by another
283,000 in the year under review, to 1.1 million (+34%) - doubling
in two years' time. Of the new subscribers, 40,000 have become
members in order to be able to buy more Rabobank Membership
Certificates II, among other benefits.The reasons given by the
remaining 243,000 for becoming members varied and included
access to seminars, market studies, networks and non-recurring
discounts on (bank) products. Of the new members, approximately
half mentioned Rabobank's social role as an additional motive for
joining. A minority is interested in the fact that Rabobank is a bank
where members are in command.Through their membership they
wish to have a say in the Bank's policy.
Besides higher membership numbers, Rabobank wants members
that are more engaged.The Bank stimulates this engagement
through various programmes. In 2002 Rabobank Nederland issued
a new magazine, 'U Extra' for exclusive distribution among the
1.1 million members of the local banks. In the year under review, a
large number of the 349 local Rabobanks organised local seminars
and workshops on various themes including investments,
sponsoring, sustainable business and themes of regional economic
interest. At the initiative of members, sector specific knowledge was
exchanged in numerous informal networks. This has created various
communities where people from agriculture, the retail trade or
other professionals meet. Similarly, at Rabobank's initiative, a digital
youth community was started, where young people can exchange
views and experiences on such subjects as study or career choice.
Some stakeholder groups are facilitated nationally, for example
Rabobank's young people's councils, which have existed for some
time.
