Ethics - FAQ

1. What are ethics?
2. Why have a Code of Ethics and Professional Conduct?
3. Who is subject to the Code of Ethics and Professional Conduct at Desjardins?
4. How long has Desjardins been concerned with ethics?
5. What are the Desjardins values?
6. Who verifies that the Code of Ethics and Professional Conduct rules are applied?
7. How does the Code of Ethics and Professional Conduct protect members and clients?
8. Does the Code of Ethics and Professional Conduct protect the information Desjardins has about me?
9. What can I do if I think I know of a violation of the Code of Ethics and Professional Conduct?

What are ethics?

Ethics are a set of values that serve to regulate behaviour to ensure harmony between people.

Ethics appeal to a person's sense of duty. A code of ethics is a group of rules adopted by an organization. They provide guidelines for the conduct of officers, employees and components and they draw the line between what is and isn't permitted. Violation of the code may engender sanctions.

A code of ethics appeals to personal values rather than duty. In a given situation, a decision is made after reflecting on the positive or negative consequences of an action for yourself, for another person and for your environment. This is done in consideration of the organizational values and is a matter of making the best choice under the circumstances. The objective is for people to develop their ability to make responsible decisions.

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Why have a code of ethics?

The Desjardins Group Code of Ethics and Professional Conduct provides its officers, employees and components with guidelines for proper and improper conduct with a view to:

• integrating consideration for organizational values in their daily behaviour and decisions, which also contributes to Desjardins Group's mission and its commitment to social responsibility;
• protecting the interests of Desjardins stakeholders¹, that is, its members and clients, partners, suppliers, the general population and governments. To this end, the Code is based on three principles: respect for persons, respect for the common good, and respect for the organization.

1. A stakeholder is any physical or moral person who can influence an organization's activities or be affected by the positive or negative consequences of an organization's decisions.

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Who is subject to the Code of Ethics and Professional Conduct at Desjardins?

All Desjardins Group affiliates have adopted the Code of Ethics and Professional Conduct. All officers, employees and components are expected to obey its values, principles and rules. In addition, each component has adopted rules pertaining to its own sector of activities.

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How long has Desjardins been concerned with ethics?

Since the first caisses were established in 1900, their founder, Alphonse Desjardins, set the tone by instituting a board of supervision responsible for ensuring that officers and employees did their work in an appropriate and honest fashion.

In 1989, the caisse network put in place an explicit code of ethics. Thereafter, most of the other Group components adopted their own code of ethics. Over the course of 2004, all components adopted the Desjardins Group Code of Ethics and Professional Conduct whose rules apply to all components.

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What are the Desjardins values?

Desjardins has adopted the values of the International Co-operative Alliance:

• Self-help, self-responsibility and responsibility for others;
• Democracy;
• Equality;
• Equity;
• Solidarity;
• Ethical values of honesty, openness, social responsibility and caring for others.

Moreover, Desjardins has adopted permanent organizational values:

• Money at the service of human development;
• Personal commitment;
• Democratic action;
• Integrity and rigour;
• Solidarity with the community.

Based on these cooperative and permanent values, Desjardins has issued fundamental principles to frame its Code of Ethics and Professional Conduct:

• respect for people (including respect for their diversity);
• respect for the common good;
• respect for the organization.

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Who verifies if the Code of Ethics and Professional Conduct rules are applied?

Each Desjardins Group component is responsible for ensuring respect for the Code of Ethics and Professional Conduct. In some subsidiaries, for example, it's the Board of Supervision or the Audit Committee. At the Fédération des caisses Desjardins du Québec, it's the Board of Supervision.

The responsible body evaluates situations that are brought to its attention with respect to values, principles or the rules of the Code. Any violation, as well as any hindrance to the the Board's activities, may result in sanctions or disciplinary measures, depending on the seriousness of the situation and the resulting consequences.

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How does the Code of Ethics and Professional Conduct protect members and clients?

The Desjardins Group Code of Ethics and Professional Conduct contains rules to guide the conduct of officers and employees. These rules deal with, among other things, privacy, protection of information, conflicts of interest and respect for the law. Any breach may result in sanctions or disciplinary measures, depending on the seriousness of the situation and the resulting consequences.

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Does the Code of Ethics and Professional Conduct protect the personal information Desjardins has about me?

Yes. The Desjardins Group Code of Ethics and Professional Conduct includes strict rules on the way confidential information and data is protected, in accordance with the rules protecting personal information.

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What can I do if I think I know of a violation of the Code of Ethics and Professional Conduct?

Report any violation of the Code of Ethics and Professional Conduct to the appropriate component. You may obtain the component's address on its Web site, if applicable, or by calling its general information number. You can also click on Contact us at the top of each page on this site. All reports will be treated with care and confidentiality by the components.

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