Exchange Capital régional et coopératif Desjardins (CRCD) shares

Exchange Capital régional et coopératif Desjardins (CRCD) shares

The registration period for the 2020 share exchange has closed. A random selection among all interested shareholders is planned for mid-January.

Share exchange in 2020

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

You're eligible if:

  • You are a CRCD shareholder
  • You hold shares eligible for exchange by February 28, 2021 (i.e., shares that have been held for at least 7 years)
  • You have never redeemed CRCD shares
  • You are willing to hold your exchanged shares for an additional 7-year period
  • You have received your personal transaction code by regular mail

Exchange process

Like in 2018 and 2019, CRCD is authorized to exchange $100 million in 2020.

The deadline to submit an exchange request online was January 8, 2021. If you're selected, your transaction will be processed automatically at the end of January 2021.

Random selection process

Since demand for exchange exceeds the authorized $100 million, there will be a random selection among all shareholders who showed interest. Shareholders will be notified whether they've been selected or not.

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

Ineligibility for plans

Not eligible for RRSPs, RRIFs or any other deferred tax plan (LIRA, LIF)

Tax credit

Non-refundable Quebec tax credit worth 10% of the value of the exchanged shares which cannot be carried forward year to year, but may be transferred to spouses


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

CRCD shares are not guaranteed investments. Their value fluctuates frequently and their past performance is not indicative of 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 following these dates.

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

Total or partial redemption

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

Mandatory holding period

  • At least 7 years
  • In some cases, shares may be redeemed before the 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 so you don't lose the tax credit you get for subscribing to new shares.

You get a tax credit up to $2,550:

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

Read the prospectus before investing (PDF, 353 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 CRCD - External link. This link will open in a new window.

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