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The Desjardins Group (French: Mouvement Desjardins) is a Canadian financial service cooperative and the largest federation of credit unions (French: caisses populaires) in North America. It was founded in 1900 in Lévis , Quebec by Alphonse Desjardins . [ 2 ]
Desjardins Insurance is an insurance unit of the Desjardins Group, an association of credit unions operating in Canada. Desjardins Insurance has two principal subsidiaries: Desjardins Financial Security and Desjardins General Insurance .
Desjardins Financial Security (DFS) is the life and health insurance arm of Desjardins Group, the leading financial institution in Quebec and the largest cooperative financial group in Canada. DFS registered a record-breaking revenue data in 2016, with a year-over-year increase of 12.5%. [ 3 ]
Canada has a strong co-operative financial services sector, which consists of credit unions (caisses populaires in Quebec and other French speaking regions). At the end of 2001, Canada's credit union sector consisted of 681 credit unions and 914 caisses populaires, with more than 3,600 locations and 4,100 automated teller machines. [45]
The top insurance providers in Canada are Manulife, Canada Life (subsidiary of Great-West Lifeco), Sun Life Financial, Desjardins, and IA Financial Group (aka Industrial Alliance). [1] [2] Smaller insurers include those operating as subsidiaries of banks, such as CIBC Insurance and TD Insurance. [2]
Desjardins Group and ATB Financial are major regional financial institutions. Desjardins, a federation of 313 autonomous credit unions (French: caisses populaires), is one of the largest financial institutions in Quebec and also operates in some regions of Ontario with substantial Franco-Ontarian populations.
Desjardins General Insurance (DGI) is the P&C insurance subsidiary of Desjardins General Insurance Group, itself a subsidiary of Desjardins Group.The brand is sister with Desjardins Financial Security, and both of them regroup under the banner of Desjardins Insurance.They now serve customers in three provinces of Canada: Quebec, Alberta and Ontario. [1]
Zag Bank was a Canadian direct bank owned by Desjardins Group. Zag was founded as Bank West in High River, Alberta in 2002 and acquired by Desjardins in 2011 along with the other Western Financial Group companies. Desjardins announced on November 5, 2018 the winding down of operations for Zag Bank effective 2019. [1]