The Members Council typically adopts the financial statements and appoints the members of
the local Supervisory Board. Members Councils also tend to be involved in selecting local
projects qualifying for cooperative dividend. Cooperative dividend comprises all investments in,
and expenditures on, improving the local economic, social and cultural environment, including
sustainability initiatives.
General Meeting
The General Meeting of a local Rabobank decides on major issues that impact the local
Rabobank's continuity.The Members Council exercises all other powers.
Works Council
Based on the Dutch Works Council Act, each local Rabobank has its own Works Council to
discuss representation issues affecting that particular bank. The local board of directors is
responsible for calling in the local Works Council adequately and promptly, both formally and
informally, when the situation or developments within the bank so warrant. The rights of the
local Works Council include the right to be informed, the right to be consulted, the right to
advise, the right of consent and the right of initiative.
In order to achieve the best possible employee representation, the local Works Council consults
with the chairman of the local board of directors during Consultative Meetings. The general
state of affairs should be discussed in a Consultative Meeting on at least two occasions every
year. The local Supervisory Board or a delegation of this Board is also represented in these
Meetings. The local Supervisory Board is also present during Consultative Meetings addressing
important consultative issues, or a planned appointment or removal of the chairman of the
local board ofdirectors.
Group Works Council of local Rabobanks
The Group Works Council of Member Banks operates within the scope of the Dutch Works
Council Act as the central employee representative body of all the local Rabobanks that looks
after the interests of all the local Rabobanks'employees.
The Group Works Council of Member Banks has a say in the development of policies that affect
the local Rabobanks. With regard to issues requiring advice or consent that impact most or all
Member Banks and are decided at central level, the Group Works Council of Member Banks
exercises the right to advise and the right of consent. In addition, the Group Works Council of
Member Banks supports the local Works Councils in their continuing development and
professionalisation, and educates, informs and advises them on current issues and
developments. The Group Works Council of Member Banks deliberates with the Executive Board
of Rabobank Nederland prior to the Central Delegates Assembly.
Rabobank Nederland
Rabobank Nederland was established to support the local Rabobanks' banking business.
It initiates and develops policies and products in many different areas, such as lending,
payments, securities services, customer service, marketing, distribution and human resource
policy. These policies are developed in close dialogue with representatives of local Rabobanks.
Besides its supporting role to the local Rabobanks, Rabobank Nederland also fulfils several other
roles. For example, it is a shareholder in several specialised companies, including DLL and Rabo
Real Estate Group. Rabobank Nederland is also active in the global financial markets and
Annual Report 2014 Rabobank Group
