FAQ – Personal financial products and services – Member dividends

Over the last few years, most of the caisses paid out member dividends.

The money paid out in member dividends comes from caisse surplus earnings over a given fiscal year. This means that is a caisse does not have surplus earnings, it will be unable to pay out member dividends.

For more information, contact an advisor at your caisse.

Contact an advisor at a caisse.

Member dividends are calculated by adding up the product dividend and volume dividend amounts.

Product dividend calculation

The maximum amount for the product dividend is $50. The product dividend is based on the number of months over which you had eligible products from all 4 product lines. For example, if you qualified for the product dividend only during the last 6 months of the year, you'll receive half the maximum amount, which, in this case, is $25.

Volume dividend calculation

The volume dividend is calculated based on your business volume in each product line.

We apply a certain rate per $1,000 for every eligible product in each product line. For jointly held products, we split the volume evenly between the product holders.

If you were a caisse member during the last fiscal year, you're eligible for member dividends. You'll automatically receive them if you're eligible.

Product dividend

The product dividend is an amount of up to $50 paid by your caisse to reward your engagement and use of our products. You qualify if you're a personal member who had at least 1 eligible Desjardins product in each of the 4 following product lines last year:

  • Accounts
  • Loans, lines of credit and credit cards
  • Savings and investments
  • Insurance

If you're 30 or under, you need a product in only 3 of the 4 product lines.

Volume dividend

The volume dividend is based on your average balance in each product line throughout the last year. For insurance products, it's based on your premium. For credit cards, it's based on the total purchases made with your credit card over the year. You get a certain amount for every $1,000 you have in volume. This amount is based on the rate voted on by the members of your caisse at the general meeting.

All members are eligible for volume dividends.

If you're a member of only one caisse:

Volume and product dividends are deposited into your everyday account. The amounts for both categories are paid out together.

If you're a member of multiples caisses:

Product dividends are deposited into the everyday account at the caisse where you do most of your business. Volume dividends are deposited into the everyday account at the caisses that pay out the volume dividends.

If you have a registered plan:

Volume dividends are deposited into the registered account where you hold the products for which you're receiving dividends. If you don't have a registered account, the volume dividends are deposited into your everyday account and become taxable.

Yes. At your caisse's annual general meeting, all members are invited to vote on how much of the surplus earnings will be distributed as member dividends.

We changed the way they're calculated to make them easier to understand. Dividends used to be calculated mainly based on interest paid or received. Now that they're based on balances and premiums, they're more transparent because you have access to this information.

We want to give all products in a product line the same weight and thereby treat all members equally, no matter what product they choose to meet their needs.

You received a T5 slip and an RL-3 slip because you earned $50 or more from a single caisse in:

  • Product dividends
  • Volume dividends on:
    • Accounts
    • Non-registered savings
    • Funds

No, the product dividend is not cumulative. You'll receive up to $50, as long as you had at least 1 eligible Desjardins product in each of the 4 product lines during the last fiscal year. It doesn't matter how many products you had in total or how many caisses you do business with. Members age 30 and under must have eligible products in 3 of the 4 product lines.

If these are the only products you have, then no. You need at least 1 eligible Desjardins product in 4 different product lines—not just 4 products. Members age 30 and under need a product in only 3 of the 4 product lines. The RRSP, RESP and TFSA are all from the same product line (Savings and investments), while the basic savings account is from the Accounts product line. That makes only 2 different product lines.

The product dividend is based on the number of months over which you had eligible products from all 4 product lines. For example, if you qualified for the product dividend only during the last 6 months of the year, you'll receive half the maximum amount, which, in this case, is $25.

Your volume dividend is calculated using your average monthly balance or insurance premium, pro-rated for the number of months you held these products. For credits cards, the amount is calculated based on the net purchases made with your card during the year.

Dividends aren't taxable if they're paid into a registered account under the same plan. However, if you no longer have an account associated with that plan, the dividends become taxable if they're deposited into your everyday account or paid by cheque.

We may send you tax slips for the following dividends and products:

  • Product dividends
  • Volume dividends for:
    • Accounts
    • Non-registered savings
    • Funds
    • Credit cards
    • Any product for which you receive a tax slip

For more information about taxes, we recommend contacting an accountant or tax specialist.

Yes. If you don't receive your dividend, contact your former caisse to see if any amounts are owed to you.

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