Exchange Capital régional et coopératif Desjardins (CRCD) shares

Exchange Capital régional et coopératif Desjardins (CRCD) shares

The exchange registration period for 2019 is over

A random selection among interested investors will take place by mid-July

Share exchange in 2019

  • Exchange your shares and receive a Quebec tax credit worth 10% of the value of the exchanged shares.
  • Opt to exchange up to $15,000 for shares held for at least 7 years.
  • New 7-year holding period required.
  • No new investment required and no tax impact upon exchange.

Is this option open to you?

In order to qualify for this offer and get the tax credit, you must:

  • be a shareholder of CRCD
  • hold shares eligible for exchange by February 29, 2020, that is, shares that have been held for at least 7 years
  • not have redeemed CRCD shares in the past
  • be willing to hold your exchanged shares for an additional 7-year period
  • have received by mail your unique personalized transaction code

Exchange process

  • CRCD is authorized to exchange $100 million annually for 2018, 2019 and 2020.
  • Eligible shareholders had to apply for exchange before 5:00 pm on June 7, 2019, by filling out the online form or the paper form received by mail.
  • If a shareholder is selected, the exchange will be processed in mid-July.

Random selection process

Since demand for exchange exceeded the authorized $100 million, there will be a random selection process among all shareholders who indicated their interest. Shareholders will be notified whether they've been selected or not in mid-July.

Eligible investors

  • Existing CRCD shareholders who have held shares for at least 7 years and have never requested redemption

Minimum and maximum

  • Minimum annual exchange of $500 to a maximum of $15,000 of the value of the exchanged shares at the time CRCD accepts

Eligibility for plans

CRCD shares not eligible for RRSPs, RRIFs or any other deferred tax plan (LIRA, LIF)

Tax credit

Quebec tax credit worth 10% of the value of the exchanged shares that is non-refundable and cannot be carried forward from year to year but is transferrable to spouses.


  • Development capital, return not guaranteed
  • No interest or dividend payments

CRCD shares are not guaranteed, their value fluctuates frequently and their past performance is not indicative of their future returns. Investment fees may apply.

Share price

The price of exchanged shares is always the same as the price of other shares.

Share price is established semi-annually on June 30 and December 31, and announced within 90 days after these dates.

See current share price - External link. This link will open in a new window.

Redemption terms

  • No tax impact upon exchange
  • Shares are not transferable to another person, by sale or otherwise
  • Possibility of capital gains or losses when redeeming exchanged shares
  • After redemption, loss of tax credit on any new subscription or exchange

Mandatory holding period

  • At least 7 years
  • In some cases, CRCD shares may be redeemed before end of the mandatory holding period

Notices and statements

Transaction notices and semi-annual statements sent to shareholders

Subscribe to new shares!

Exchanging shares is not considered a redemption of shares so you don't lose the tax credit you get for subscribing to new shares. You'll get a tax credit up to $2,550, that is:

  • $1,500 for exchanging $15,000 in shares
  • $1,050 for subscribing to $3,000 in new shares

Read the prospectus before exchanging (PDF, 485 KB) - This link will open in a new window..

Learn more about redeeming shares after 7 years - External link. This link will open in a new window.

Learn more about Capital régional et coopératif Desjardins - External link. This link will open in a new window.

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