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10 reasons to choose Desjardins
- Open to everyone. No exceptions.
First and foremost, the caisse strives to meet the financial needs of its members. It does not focus on generating profits for a select few investors. Everyone is welcome, without exception, regardless of their financial standing. The caisse provides customized services to its members, and advises and supports them, regardless of their situation.
- Members own their financial services cooperative.
The caisse belongs to its members. Everyone can participate in the Annual General Meeting and elect officers. In a bank, clients don't have a say in any decisions, nor do they have access to upper-management. That privilege is reserved for a select few: the shareholders.
- One vote per member, not per share.
As a cooperative owner, each member has one vote, regardless of their holdings. Bank clients don't have this advantage. Only shareholders can take part in the decision-making process, and they don't all carry the same weight since they get one vote for every share.
- Elected officers: representatives of the community
Caisse members can file their candidacy to become an officer of the caisse. If elected, they can sit on the Board of Directors or on various committees. They may also be called upon to act as a caisse representative at other levels of Desjardins Group.
- Some 6,300 elected officers see to the management and development of the Desjardins caisses. Control is always in the hands of the community.
- The Young Intern Officer Program makes it possible for young adults age 18 to 30 to complete an internship in a caisse and in particular, on the Board of Directors.
- Member dividends go to members, not to shareholders.
In a bank, a part of the profits are paid to a few shareholders in the form of dividends. At Desjardins, all members may receive a part of the surplus earnings (profits) in the form of member dividends, depending on their caisse's annual results1. Member dividends are proportional to how much members use their cooperative's services. The caisses also return a portion of the surplus earnings to the community in the form of collective member dividends. Both members and the community receive millions each year.
1. In accordance with provincial legislation, certain conditions regarding member dividends may differ in Ontario. Please contact your caisse or Desjardins Credit Union branch for further information.
- Profitability for a different purpose.
Every enterprise has to turn a profit to last so of course, Desjardins Group also has to follow market prices and conditions. However, the caisses always use their profits to better serve their members, and not for the good of a select few shareholders. By staying in good financial standing, every caisse ensures that it will continue to:
- Provide financial assistance to individuals and micro-businesses that may not have access to traditional financing.
- Contribute financially to the socio-economic development of the community.
To find out more about the democracy of a caisse, the Young Intern Officer program, and member dividends, read more about How cooperatives work.
- Cooperative, economic and financial education
Desjardins Group works to provide people with the means to take their financial futures and quality of life into their own hands. As such, it contributes to the cooperative, economic and financial education of its members. To find out more, read Our educational role.
- An incomparable social commitment, a real contribution to the socio-economic development of communities.
The Desjardins caisses have been serving members for over 100 years. Faithful to the Group's mission, they have always provided financial support to their community and they still do, whether through a community development help fund, or through bursaries, sponsorships or donations. Here are just a few examples:
- Products and services for people who don't have access to traditional forms of financing.
- Meeting social and community needs like the building of homes for seniors or young people.
- Partnerships with various community development organizations.
- The Créavenir program provides training and support to young people who want to create their own business.
- The Road to Employment program aims to encourage access to qualified jobs for young graduates, particularly in regional areas and supporting the development of local small and medium-sized businesses.
To find out more, read Social responsibility and sustainable development.
- Sustainable development and the environment
Desjardins Group has always been an advocate of long-term development. With a view to helping to protect the environment, Desjardins adopted a sustainable development policy in 2005 that resulted in new environmental measures and programs in all components.
- Investment products that are friendly to the environment and to communities: the Desjardins Environment Fund and the SocieTerra Portfolios.
- The Eco-friendly Statement Challenge: printed statements are replaced by online statements.
- Fondation Desjardins scholarship programs, research awards and grants.
- VISA Desjardins affinity cards in support of the environment (Fondation de la faune du Québec, Fondation québécoise en environnement) and humanitarian causes (Amnesty International, OXFAM-Québec).
- Reduced insurance premiums for hybrid vehicle owners (Desjardins General Insurance)
To find out more, read Social responsibility and sustainable development.
- International solidarity, a long-standing commitment
Développement international Desjardins (DID), a Desjardins Group subsidiary, has been working in international development for over 35 years. This long-standing commitment to under-privileged communities around the world illustrates Desjardins's desire to contribute to a more equitable and prosperous world. Find out more about DID
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