Exchange Capital régional et coopératif Desjardins (CRCD) shares

Exchange Capital régional et coopératif Desjardins (CRCD) shares

Did you know that when you exchange eligible shares, you help accelerate investments to support Quebec companies and receive a tax credit?

2022 share exchange

The registration period for the next share exchange will run from 9 AM on November 28, 2022, to 5 PM on January 6, 2023.

Eligible investors will receive a personal transaction code in the mail at the start of the registration period.

You're eligible if you:

  • Are a CRCD shareholder
  • Hold shares eligible for redemption by February 28, 2023 (that is, shares that have been held for at least 7 years)
  • Have never redeemed CRCD shares
  • Are willing to hold your exchanged shares for an additional 7-year period

Tax credit

Receive a Quebec tax credit of 10% of the value of exchanged shares ($1,500 max.).

This credit may be transferred to spouses but is non-refundable and cannot be carried forward from year to year.

Exchanging shares is not considered a redemption. So you can receive a tax credit of up to $2,400 each year:

  • $1,500 for exchanging shares valued at $15,000
  • $900 for buying $3,000 worth of new shares

How to exchange your shares

There are 3 steps to the exchange process.

  1. 1. Eligible investors are sent a personal transaction code

    If you hold shares eligible for exchange, we send you a personal transaction code by mail in the fall, at the start of the registration period.

  2. 2. Registration period for exchanging eligible shares

    You can exchange up to $15,000 in eligible shares per year.

    • Minimum exchange value: $500
    • Maximum exchange value: $15,000
    • No capital outlay required and no tax impact upon exchange

    The registration period for the 2022 exchange will run from 9 AM on November 28, 2022, to 5 PM on January 6, 2023.

    During this period, use the personal transaction code you received in the mail to fill out the secure form available here.

  3. 3. Shares are allocated and requests are recorded

    CRCD is authorized by the Quebec government to exchange $50 million annually in 2021 and 2022.

    If demand for exchange shares is less than $50 million, all eligible exchange requests will be accepted.

    If demand for exchange shares exceeds the authorized limit of $50 million, the shares will be allocated on a pro rata basis among all shareholders who have expressed interest. Shareholders will be advised of the exchange amount allocated to them.

    Once an exchange request has been accepted, we will automatically record the transaction.

What you need to know about CRCD shares

Mandatory holding period and redemption

  • The minimum holding period is 7 years.
  • In some cases, shares may be redeemed before the end of this period.
  • Shares are not transferable to another person, by sale or otherwise.
  • A redemption of exchanged shares may trigger capital gains or losses.
  • After a redemption, you can no longer claim a tax credit for the current tax year or any subsequent tax year on any new subscription or exchange.

Learn more about redeeming shares

Returns and share price

  • Returns are not guaranteed.
  • There are no interest or dividend payments.
  • The price of exchanged shares is always the same as the price of other shares. Share price is established twice a year, on June 30 and December 31, and announced within 90 days following these dates.
  • Transaction notices and semi-annual statements are sent to shareholders.

See current share price - – External link.

Contact us

CRCD shares are not guaranteed; their value fluctuates frequently and their past performance is not indicative of future returns. Investment fees may apply. See prospectus (PDF, 477 KB)