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Desjardins continues to support members and clients and posts remarkable performance for fiscal 2021

February 23, 2022

AN ACTIVE AND INVOLVED GROUP. Desjardins continues to support young people and enhances its commitment to nearly $80 million.

Lévis, February 23, 2022 At the end of the fiscal year at December 31, 2021, Desjardins Group, North America’s leading financial cooperative group, recorded surplus earnings before member dividends of $2,942 million, up $523 million or 21.6%, compared to fiscal 2020. The growth in surplus earnings was mainly due to a lower loss experience in the Property and Casualty Insurance segment, a decrease in the provision for credit losses, and growth in both net interest income and other operating income[1]. The increase was offset by a higher non-interest expense mainly due to larger amounts invested in Desjardins-wide strategic projects.

For fiscal 2021, the provision for member dividends was $387 million, up $57 million or 17.3% from fiscal 2020. Sponsorships, donations and scholarships come to $110 million, including $41 million from caisse Community Development Funds, while $17 million was paid out through the Desjardins Member Advantages program. This amounted to a total of $514 million returned to members and the community[2], up $69 million or 15.5% from fiscal 2020. In 2021, Desjardins also announced $24 million in commitments related to the GoodSpark Fund which seeks in particular to provide social and economic support to the region.

For the fourth quarter ended December 31, 2021, surplus earnings before member dividends were $393 million, down $483 million or 55.1% from the same period in 2020. This decrease was primarily due to an increase in non-interest expense mainly because of larger amounts invested in Desjardins-wide strategic projects as well as changes in actuarial assumptions related to life and health insurance operations. This decrease was partly offset by a decline in the provision for credit losses compared to the same quarter of 2020.

"For fiscal 2021, I'm especially proud of how hard our teams worked together across Desjardins Group, the caisse network's strong performance and our ongoing efforts to ensure a green and inclusive socio-economic recovery. I'm also proud of how our employees continued to support our members and clients, whether individuals or businesses. Thanks to all of these efforts, Desjardins Group generated nearly $3 billion in surpluses before member dividends, gave back more than $500 million to the community and achieved nearly $400 billion in net growth in total assets," said Desjardins President and CEO Guy Cormier.

See our full financial results

COVID-19: Desjardins Group supports its members and clients and takes part in the vaccination effort

Desjardins rolled out many relief measures to support members and clients during the COVID-19 pandemic.

Several of the relief measures implemented since March 16, 2020 are still in place and have been further developed to offer solutions for members and clients in financial difficulty at any time, regardless of their circumstances. Desjardins seeks to support members and clients experiencing financial hardship by offering them the solutions that best meet their needs at the times they need them most.

Desjardins is also proud to actively took part in the vaccination effort, with more than 10,000 doses administered at the Cité de la coopération in Lévis.

Support for economic and social recovery

Desjardins is contributing to regional development and economic recovery through the GoodSpark Fund, which has set aside $250 million to stimulate social and economic activities in communities, and the Momentum Fund to support businesses.

Since the creation the GoodSpark Fund, Desjardins has committed a total of $147 million to 652 projects. Meanwhile, the Momentum Fund has supported 1,158 businesses for a total of $7 million.

The pandemic continues to have a significant impact on young people. According to a Desjardins-Academos survey, most are anxious about choosing a career, a concern that directly impacts their motivation at school. As a result, in February 2022, Desjardins announced its commitment to do even more for youth.

In order to respond to critical needs that have only been amplified by the pandemic, Desjardins committed by nearly $80 million in 2021 to support youth programs through more than 3,000 initiatives, including Alloprof, EVOL, Altergo, la Fondation Autiste & majeur, Fitspirit and Lab 22.

Giving back to the community

During this pandemic, Desjardins has been more involved than ever in people’s lives and continues to support initiatives on diversity, inclusion and cooperation. Here are some of the ways that Desjardins has been making a positive difference in people's lives since the third quarter :

  • Signed, along with 27 other international financial institutions, the United Nation’s Commitment to Financial Health and Inclusion to accelerate action on universal health and financial inclusion as a way to reduce social inequalities.
  • Teamed up with Naomi Leanage, an Ontarian who creates content on TikTok, as part of our second annual #FinTalks campaign to help young people become financially literate.
  • Provided support through the Goodspark Fund for Shelter Movers and Vide ta sacoche, two organizations making a difference for women in need.
  • Ranking in Glassdoor's Top 10 (in French Only) best employers in Canada to be reconized at MediaCorp's top employers for young people in Canada.


Desjardins is constantly innovating to meet the needs of its members and clients. Here are a few examples since the third quarter of 2021:

[1] For more information on non-GAAP financial measures and supplemental financial measures, see "Non-GAAP financial measures and other financial measures" on pages 13 to 18.

[2] For more information on non-GAAP financial measures and supplemental financial measures, see "Non-GAAP financial measures and other financial measures" on pages 13 to 18.

For journalists only: Chantal Corbeil
Public relations, Desjardins Group
514 281-7229 or 1 866 866-7000, ext. 5557229