Topic: Personal finance How to talk to your teen about money
Youth dividends
We encourage and reward members ages 5 to 17
A reflection of our values
The youth dividend introduces the concepts of sharing and dividends, both a part of our cooperative culture. We motivate kids to grow their savings by helping them reach goals that are important to them. It’s our way of supporting them on their journey toward financial independence and good saving habits.
What are youth dividends?
Eligible members ages 5 to 17 can receive the youth dividend. It’s an annual $15 lump sum.
Young members who have an eligible savings account or product with us may also receive an additional $15 for a total of $30.
Eligibility criteria for the youth dividend
To be eligible for the $15 youth dividend, kids must:
- Be at least 5 years old on January 1 and no older than 17 years old on December 31 of the reference year
2 - Have an eligible and active everyday account on December 31 of the reference year and when the youth dividend is paid out
- Make at least 7 deposits during the reference year, no minimum amount required
Eligible everyday accounts
- School Caisse account
- Youth Profit Account
- Everyday Transaction Account
- Student Caisse account
3
Eligibility criteria for the additional dividend
To be eligible for an additional $15 dividend, young members must:
- Meet the youth dividend requirements
- Have an eligible and active savings account or product during the reference year
Eligible savings accounts and products4
- Savings accounts
- Regular savings account
- Market-linked guaranteed investments
- Guaranteed fixed-rate investments, such as the Enhanced Savings Plan
Good to know
Desjardins money transfers count as eligible deposits, so friends and family can help kids reach their savings goals.
When are youth dividends paid out?
Youth dividends are paid in June following the reference year.
FAQ
Do youth dividends replace member dividends?
No. Youth dividends are designed for members ages 5-17 and don’t replace individual member dividends. If they meet all the requirements, young people are also eligible for individual dividends.
Do I need to apply for a youth dividend?
No. If all the criteria are met, the youth dividend is automatically paid to the member’s eligible everyday account.
Can the youth dividend amount vary?
No. The youth dividend is a fixed $15 amount. If all the conditions are met, members are eligible for an additional $15 for a total potential payout of $30. One lump sum will be deposited into the member’s eligible everyday account.
Where do I find the youth dividend on my account statement?
Both youth and member dividend payments are indicated by the letters REB on your account statement. Youth dividends are paid in June following the reference year.
Is there a minimum deposit requirement to be eligible for the youth dividend?
No. There are no minimum deposit or minimum balance requirements.
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