Facilitating access to credit and work: Cetelem offers a new service for customers working under fixed-term contracts
A first in the consumer credit sector.
Cetelem, the leading personal credit company in France and Europe, is completing its loan offering to persons working under fixed-term contracts1 and temporary staff by offering a job search support service. « Projet emploi » is accessible to all Cetelem customers with fixed-term or temping employment contracts, who can use this service through all channels: telephone, Internet or Cetelem partner car and motorcycle dealers. The service is proposed in partnership with Mondial Assistance, the international leader in travel assistance and insurance. This service which was launched in December 2014, is in line with Cetelem’s responsible lending (crédit responsable®) policy, which is illustrated with its new signature, « More responsible, together » since September last year. This has never happened in the consumer credit sector.
This is a new step forward in the assistance given to Cetelem’s customers with fixed-term contracts and customers with temporary contracts.
When it launched its fixed-term offering in 2011, Cetelem’s aim was to challenge the profound bias against people with fixed-term employment contracts, and to meet the demand to improve access to credit to as many people as possible, all the while remaining particularly vigilant about how loans were granted. Since the launch of this offering, Cetelem has continued its reflection with several major associations in France to further improve the support given to its customers.
Today, Cetelem has decided to go a step further in its policy of co-responsibility by proposing a new service to customers at the end of their fixed-term contracts, who are therefore looking for a new job.
Given the difficulties faced by young people for example in finding long-term jobs, Cetelem has made a commitment to help them by proposing this free support service to its customers. Granting a personal loan to its customers with fixed-term and temping contracts is a first step. Helping them in their transition towards a new job is to take this support further.
A collaborative offering in partnership with Mondial Assistance
Mondial Assistance, which has been tackling the issue of employment since the mid-1990s, has succeeded, over the years, in developing its service offering and its support programmes thanks to an in-depth understanding of the needs of people on the job market.
As part of its Employment expertise, the persons assisted by Mondial Assistance benefit from the know-how of about a dozen employment professionals and receive support tailored to their needs. The information, advice and coaching they receive, enables the to cut their job search time in two. They regain their self-confidence very quickly after the first contact. They appreciate not being isolated and « For many years, we have been helping people find work and we are proud to be able to help Cetelem’s customers. Permanent jobs are now very rare: according to the Ministry for Labour, in 2014, 84.2% people hired, except for temping staff, were hired on fixed-term contracts. Proposing a loan at the same time as job-hunting coaching is an excellent idea and we are delighted to be able to support Cetelem concretely in its responsible lending (crédit responsable®) approach through our Job search skills », states Noël Ghanimé, Vice-Chairman of Mondial Assistance.
For Laurent David, Deputy Chief Executive Officer of BNP Paribas Personal Finance in charge of business in France: « This approach is fully in line with our co-responsibility. Through our work, we contribute to the real economy, and the assistance to customers with fixed term contracts who ask for our help, in finding a new job is further proof of our commitment. Since we launched this offering in July 2011, we have enabled over 20,000 customers with fixed-term contracts to acquire the consumer goods they need. Given the results obtained by Mondial Assistance, we decided to propose its Job search expertise to our customers with fixed term contracts. »
Professional and personalised support: how does it work?
- Over 57,000 applications were received for the Cetelem fixed-term contract offering, 45% of which were accepted. In all over 5,500 projects were financed in 2014.
- Car financing accounted for 25% of the projects financed
- Average amount financed:
– Cars: over €10,000
– Other: over €6,000