2021 Desjardins Group Annual Report

2021 Desjardins Group Annual Report

Download the Annual report (PDF, 26.4 MB)

Message from Guy Cormier, president and CEO

Building a prosperous, sustainable future together

At Desjardins, we're more committed than ever to shaping society and lighting the way for others as we pursue our cooperative financial group's mission for our members and clients and make a difference on key social and environmental issues.

In 2021, we relied on our team, our financial stability and our adaptability to provide proactive support during the COVID-19 pandemic. We're firmly committed to the socioeconomic recovery. That focus is clear in 2 of our amazing initiatives, the GoodSpark Fund and the Momentum Fund.

For us, it's not a question: the recovery needs to be green. That's why we took part in an online tour around Quebec to discuss the circular economy, and why we launched our ambitious climate strategy with strong commitments that we plan to achieve by 2040.

We pursued our digital shift by investing nearly $2 billion to continue to improve all our systems, uphold our commitment to security and implement our omnichannel transformation.

We also continued to focus on supporting young people. In 2021, our total commitment reached nearly $80 million. To help kids stay in school and succeed, we awarded 3,377 scholarships totalling $4.1 million.

All this was possible thanks to the commitment and extraordinary dedication of all Desjardins directors and employees to achieve our mission.

Speech by Guy Cormier

Saturday, March 26, 2022, at approximately 11:40 AM

Learn all about our biggest accomplishments from 2021 during the speech by our president and CEO.

Watch the speech

Social and cooperative responsibility

  • $514 million redistributed to members and the community
  • GoodSpark Fund $250 million for community development from 2016 through 2024
  • Climate ambition Zero carbon emissions by 2040
  • RI leader in Canada Approximately 50 responsible investment solutions

See the Social and Cooperative Responsibility Report

Financial results

  • Assets of $397.1 billion as at December 31, 2021
  • Surplus earnings of $2,942 million
  • Operating income of $20,405 million a 10.9% growth
  • Tier 1A capital ratio of21.1%

See the financial highlights

Our impact in 2021

Learn about our key projects and greatest achievements in 2021 and how they've impacted our members our clients and the communities we serve.


Governance of our cooperative

2021 was filled with big achievements. Here's the team that provided direction and inspiration to our 53,783 employees throughout the past year.

Guy Cormier
Chair of the Board, President and Chief Executive Officer of Desjardins Group

Réal Bellemare
Senior Executive Vice-President and Chief Operating Officer of Desjardins Group

Jean-Yves Bourgeois
Executive Vice-President, Business Services

Francine Champoux
Executive Vice-President, Risk Management

Marie-Huguette Cormier
Executive Vice-President, Human Resources and Communications

Denis Dubois
Executive Vice-President, Wealth Management and Life and Health Insurance, Desjardins Group President and Chief Operating Officer, Desjardins Financial Security

Johanne Duhaime
Executive Vice-President, Information Technology

Éric Lachaîne
Executive Vice-President, Caisse Network and Member and Client Services

Nathalie Larue
Executive Vice-President, Strategy, Marketing and Personal Services

Valérie Lavoie
Executive Vice-President, Property & Casualty Insurance, Desjardins Group
President and Chief Operating Officer, Desjardins General Insurance Group

Alain Leprohon
Executive Vice-President, Finance, Treasury and Administration and Chief Financial Officer

Guy Cormier
Chair of the Board, President and Chief Executive Officer, BBA, MBA
Desjardins Group

Louis Babineau
Professor, DBA, ASC
Caisse Desjardins de Sainte-Foy

Luc Bachand
Co-opted Director

Lisa Baillargeon
Professor, PhD, MBA, CPA, C.Adm., ICD.D
Caisse Desjardins Charles-LeMoyne

Jordan Baril-Furino
Engineer, MBA
Caisse Desjardins de l'Ouest-de-l'Île

Johanne Charbonneau
Accountant, FCPA, FCGA, MBA, C.Dir.
Co-opted Director

Stéphane Corbeil
Company President, CFA, MBA
Caisse Desjardins du Nord de Laval

Michel Doré
Strategic Planning Officer, BBA
Caisse Desjardins des militaires

André Grenier
Agro-Economist (AGR)
Caisse Desjardins de l'Érable

Nadine Groulx
Agricultural Entrepreneur
Caisse Desjardins des Verts-Sommets de l'Estrie

Dominique Jodoin
Company President and CEO, MBA, MSc
Co-opted Director

Marie-Josée Lamothe
Professor, BSc
Co-opted Director

Maryse Lapierre
Notary, LLB, DDN, ASC
Caisse populaire Desjardins des Ramées

Denis Latulippe
Actuary, FCIA, MBA, MSc, ASC
Co-opted Director

Michel Magnan
Professor, PhD, FCPA, FCA, ASC, C.Dir.
Co-opted Director

Paula Parhon
IT Consulting Company President, ASC, C.Adm.
Caisse Desjardins de Beauport

Serge Rousseau
Company Managing Director
Caisse Desjardins du Carrefour des lacs

Patricia-Ann Sarrazin-Sullivan
Architect, C.Adm.
Caisse Desjardins du Plateau-Mont-Royal

Marie-Eve Tremblay
Venture Capital Company Senior Executive, MSc, CHRP, ICD.D
Caisse Desjardins du Quartier-Latin de Montréal

Stéphane Trottier
Ergonomist, MErgS, ASC
Desjardins Ontario Credit Union

Yvon Vinet
Notary, LLB, DDN
Caisse Desjardins de Salaberry-de-Valleyfield

Kathleen Bilodeau
General Manager
Caisse Desjardins de Sillery—Saint-Louis-de-France

Neil Hawthorn
General Manager
Caisse Desjardins de Saint-Eustache-Deux-Montagnes

*There are currently 2 openings on the board of directors.

Michel Guénette
Caisse Desjardins de Brome-Missisquoi

Michel Yelle
Desjardins Ontario Credit Union

Katia Cyr
Caisse Desjardins du Nord de Sherbrooke

Ahmed Naciri
Caisse Desjardins du Plateau-Mont-Royal

Annie Vaillancourt
Caisse Desjardins du Plateau Montcalm


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  1. For more information on non generally accepted accounting principles (GAAP) financial measures and supplemental financial measures, see “Non-GAAP financial measures and other financial measures” section of Desjardins Group's 2021 annual MD&A which is available on the SEDAR website at www.sedar.com (under the Fédération des caisses Desjardins du Québec profile). Non-GAAP financial measures used by Desjardins Group, and which do not have a standardized definition, are not directly comparable to similar measures used by other companies, and may not be directly comparable to any GAAP measures.
  2. In accordance with the guideline on Capital Adequacy Guideline - Financial services cooperatives issued by the AMF.