The members of the cooperative
In 2008, member involvement and influence at local Rabobanks were intensified
further. The number of Member Councils rose from 104 to 112. The 'Dichterbij'
member magazine received a Customer Media Award in the 'Most innovating'
category. The cooperative dividend gained added substance and depth.
Rabobank's contribution to over a thousand initiatives enabled people to
strengthen their economic, social and cultural environment. In the year under
review, new opportunities were sought to bring effective influence within reach
of a larger group of members. The deployment of interactive virtual instruments
is showing promise. A number of local Rabobanks opened special websites for
interaction with their members.
The importance of engaged members
www. ra boba n k.co m/a bo ut us
To a cooperative organisation, the exercise of influence and control by engaged members is important
for continued delivery of customer value. Membership lends an extra dimension to customer relations.
Members are loyal clients who, in practice, account for a higher-than-average number of products and
services. Rabobank is bringing in more members and aims to raise engagement among its members.
In 2008, membership of the 153 (174) local Rabobanks grew by 69,000 to more than 1.7 million.
This means that an average local Rabobank now has around 11,000 members, who all have a say in the
Bank's direction or its distribution policy and services. The members of many local Rabobanks help
decide which social projects should be supported.
Member benefit system
Members not only have influence and control, they can also share knowledge and extend their networks at
workshops and seminars. In addition, they can invest in Rabobank Member Certificates and get a higher
interest rate on the Rabo LevensloopSparen life-span leave savings account. Four times a year, members
receive the 'Dichterbij' magazine, which contains financial background articles, local information and
special offers. In addition, more and more local Rabobanks are developing initiatives under which
members get discounts from enterprises in the local bank's operating area. The member benefit system
is gradually being expanded.
Local Member Councils
At year-end 2008,100 (88) local Rabobanks had the Executive model, which has an obligatory Member
Council. In addition, there were 12 (16) local Rabobanks that had the Partnership model and that had also
implemented a Member Council. A Member Council consist of 30 to 50 members and typically discusses
such themes as the Bank's direction, distribution policy and services. It acts as an important discussion
partner for the Board in developing the Bank's strategic policy. Also, a Member Council formally adopts
the financial statements of its local Rabobank and appoints the members of the supervisory board.
Member Councils are involved in the selection of local projects that are eligible for cooperative dividend.
The year 2008 saw the launch of a national 'speed date', where members from councils from all over the
country were introduced to each other. The goal of these meetings is to exchange knowledge and
experience and to get a picture of special aspects of the cooperative and of Rabobank Nederland's
activities. Divided over three meetings during the year under review, ten Member Councils got to know
each other and exchanged knowledge in this way.
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Rabobank Group Annual Report 2008
