FAQ – Personal financial products and services – Member dividends

Lower RRIF minimum withdrawals

If you want to know more about the government’s announcement to lower RRIF minimum withdrawals, speak to your caisse advisor or go to the Government of Canada website - External link. This link will open in a new window..

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.

Individual member dividends are calculated by adding the product dividend and volume dividend amounts.

In 2020, the maximum amount for the product dividend is $50.

Volume dividend calculation

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

For example, if you had 2 products from the Savings and investments product line:

  • An RRSP – Desjardins Funds with an average monthly balance of $30,000
  • A TFSA – Term Savings with an average monthly balance $20,000

The total volume for this product line would be $50,000.

Product 1 volume + Product 2 volume = Total volume
$30,000 + $20,000 = $50,000

For every $1,000 of your total volume, we apply the rate voted on by members of your caisse.
Let's say the rate is $0.61.
Here's how your dividend would be calculated:
Rate x [total volume for the product line / $1,000]
$0.61 x [$50,000 / $1,000] = $30.50

Note: For jointly held products, we split the volume evenly between the product holders.
For example, let's say you have a joint mortgage with an average monthly balance of $200,000.

Here's how your dividend would be calculated:
$200,000 divided by 2 = $100,000
$0.61 x [$100,000 / $1,000] = $61

For the Insurance product line, the rate is applied to your total annual premium amount. For example, let's say you have joint auto insurance with a $300 premium and joint home insurance with a $500 premium, and the rate is $23.

Here's how your dividend would be calculated:
[$300 + $500] / 2 = $400
$23 x [$400 / $1,000] = $9.20

If you had all these products, your total volume dividend amount would be $100.70.

$30.50 (Savings and investments) + $61 (Loans and credit) + $9.20 (Insurance) = $100.70

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 a flat amount paid by your caisse to reward your engagement and use of our products. In 2020, the maximum amount is $50. You qualify if you're a personal member who had at least 1 eligible Desjardins product in each of the 4 following product lines in 2019:

  • Accounts
  • Cards, loans and credit
  • 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 over the past year for each product line. For insurance products, it's based on your premium. 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. The Insurance product line does not apply for business members. Conditions may apply.

Yes. At your caisse's 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 2019 T5 slip and an RL-3 slip if you live in Quebec because you earned $50 or more from a single caisse in:

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

No. As every taxpayer's situation is different, so is their tax return, regardless of the tax slips they get. If you're not sure about tax rates, we suggest you talk to a tax specialist.

No; the product dividend is not cumulative. You'll receive 1 flat amount, 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.

Your product dividend is prorated based on the number of months you had eligible products from all 4 product lines. For example, if you only qualified for the product dividend during the last 6 months of the year, you'll receive half the flat amount.

Your volume dividend is calculated using your average monthly balance or insurance premium, pro-rated for the number of months you held these products.

Each caisse is responsible for paying its members dividends. Our goal is for you to get a single payment from each caisse you do business with. But due to certain regulations, we're required to deposit each dividend directly into the account linked to the product (such as an RRSP). To find out your total dividend amount, you'll have to wait until all dividends are paid out.

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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