Relief measures for personal members and clients


Relief measures for personal members and clients

In light of the COVID-19 pandemic, we've implemented special measures to help you meet your financial obligations.

We're offering solutions for the following products and services:

  • Consumer loans and lines of credit
  • Contactless payment
  • Credit cards
  • Emergency loans
  • Insurance
  • Mortgages
  • Registered retirement income funds (RRIFs)

Members and clients who are eligible for relief measures

If you're in one of the following situations, we can help you:

  • You have contracted COVID-19 and are unable to work due to the virus.
  • You're in quarantine because you have symptoms and are awaiting test results.
  • You're unable to go to work because of travel restrictions.
  • You lost your job or are temporarily laid off.
  • You're facing other issues closely related to COVID-19.

Requests are assessed on a case-by-case basis. If your request is accepted, any unpaid regular payments scheduled during the deferral period won't be deemed late and any information sent to Equifax and TransUnion will state that a payment deferral has been granted in the current context of the pandemic1.

However, if you had any late payments outstanding before you made your deferral request or if you’re unable to make payments at the end of the deferral period, your credit score may be affected. If this is the case, it’s very important to contact your caisse or call 1-800-CAISSES (1-800-224-7737), long before your payments resume to discuss your options.

Tips for easing financial stress

Here are some tips for managing your finances during this time:

  • Draw up a budget based on your current situation. Scale back on non-essential expenses.
  • Adjust any pre-authorized payments in AccèsD.
  • Use credit with caution. Avoid taking out cash advances on your credit card.

Payment deferrals for loans, lines of credit and credit cards

If you're unable to make your payments, you can defer your next payment for up to 3 months.

Products eligible for payment deferral

  • Credit cards
  • Conventional mortgages
  • Versatile Lines of Credit (home equity lines of credit)
  • Accord D financing
  • Automobile and durable goods financing
  • Consumer loans and lines of credit
Learn more about payment deferrals

Resuming payments

When your deferral period ends, your payments will be due again. See the terms for resuming payments on your financing products.

Learn more about resuming payments

Other measures in place to help you

Minimum withdrawal rate for registered retirement income funds (RRIFs) reduced by 25% for 2020

This measure from the federal government allows you to save more money tax-free. To learn more, contact your advisor.

Reduced interest rate on your credit card

If you obtain a payment deferral for one of our financing products, we'll temporarily lower the interest rate on your credit card to 10.9% for the payment deferral period.

Home and auto insurance relief measures

If you're using your vehicle to make deliveries2, we're offering free temporary auto insurance coverage.

If you're working from home, we're temporarily increasing the insurance limit for losses affecting home-based business property to $10,000, at no extra cost.

Contactless payment limit increased to $250

We increased the tap limit on our credit and debit cards from $100 to $250 at all retailers with Desjardins payment terminals.

Emergency loans for members hit hardest by COVID-19

We're offering members significantly impacted by COVID-19 a loan of up to $3,000 to be repaid over a maximum of 18 months with the option of deferring payments for 6 months.

The loan has a special interest rate of 4.97%.

Request financial assistance

Contact us

We're here to answer all your questions.

Call us toll-free, from anywhere in Canada or the U.S.:

Or have us call you at the time of your choice.

Please note that our teams are experiencing a high volume of calls. We'll do our best to answer you as soon as possible.

1. We have no control over the credit score determined by Equifax and TransUnion as these are independent agencies. You may have a different score with each agency, as they each have their own assessment criteria. Your credit score is calculated based on information Equifax and TransUnion receive from various lenders and service providers. To learn more, visit the Equifax or TransUnion website, both updated regularly.

2. Except for deliveries made via third-party services like Uber Eats, SkipTheDishes, Instacart and Amazon Flex.