Membership policy
Rabobank is different. It is the only large bank in
the Netherlands that has members. More and
more people are discovering the added value of
membership. At year-end 2003, Rabobank had
1.36 million members, comfortably exceeding the
target of 1.2 million.The focus of our membership
policy has now shifted away from acquiring
members to strengthening member engagement.
Continued strong growth in membership
Motives for membership
Greater engagement
Membership policy 27
Members are important to Rabobank.They give advice when asked or
volunteer it and stimulate the Bank to even higher standards of custom
er friendliness, entrepreneurship and innovation. In addition, members
show greater customer loyalty and greater satisfaction with the Bank's
services and use more products and services than other clients. Indeed,
it is Rabobank's co-operative background, its local roots and its social
engagement that have resulted in its development into a leading and
robust party in the market.
In 2003 Rabobank's membership again showed strong growth, with
local Rabobanks registering over 200,000 new members. Since the start
of the membership campaign early in 2001, more than 810,000 clients
have subscribed as new Rabobank members. At 31 December 2003, the
meter stood at more than 1.36 million members, considerably higher
than the target of 1.2 million.
Excellence in both products and services forms the basis for member-
ship.Only if the Bank delivers real customer value are people interested
in being more than just ordinary clients. Many clients therefore cite the
quality of the services as their chief motive for becoming a Rabobank
member. Approximately half of the members expect both material and
financial benefits, such as discounts on banking and non-banking
products and specific member products such as Rabobank Membership
Certificates and Rabo RenteExtra,the new investment product for mem
bers introduced in 2003. In addition, the majority of members attach
great value to Rabobank's engagement in local society. According to a
large group of members, they are members because they receive extra
information and are invited for seminars and member meetings. More
than half say that influence and control are important, although only a
small percentage actually exercise them.
Because the target of 1.2 million members has been achieved, the focus
of membership policy has shifted away from the acquisition of new
members.The aim now is to intensify the relationship with the existing
members. Many Rabobanks were actively involved in this during 2003,
for example by helping both new and experienced enterprises to
The Tabaksblat Committee
presents its first draft
corporate government code.
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