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Within Quebec there are 204 caisses that are formally federated with Desjardins as of September 2024. [8] In 2024, the Desjardins caisses serve nearly 5.2 million members from 425 locations, with $371.4 billion in assets. [9]
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 similarly named Desjardins Ontario Credit Union, formed 1 January 2020 with the merger of 11 Ontario Desjardins-affiliated credit unions and their federation into one, is not the same entity and continues as a going concern.) In 2014, Desjardins Group acquired the Canadian operations of U.S.-based insurance giant State Farm. [11]
Meanwhile, credit unions/caisses populaires, securities dealers and mutual funds are largely regulated by provincial governments. [ 41 ] The main federal statute for the incorporation and regulation of banks, or chartered banks , is the Bank Act (S.C. 1991, c.46), where Schedules I, II and III of this Act list all banks permitted to operate in ...
The Desjardins Ontario Credit Union was formed 1 January 2020 with the merger of 11 Ontario Desjardins-affiliated credit unions, along with its federation, into one credit union [1] insured by the FRSAO. The credit union has 50 branches and 130,000 members.
A branch of the Coastal Federal Credit Union in Raleigh, North Carolina. A credit union is a member-owned nonprofit cooperative financial institution.They may offer financial services equivalent to those of commercial banks, such as share accounts (savings accounts), share draft accounts (cheque accounts), credit cards, credit, share term certificates (certificates of deposit), and online banking.
On December 6, 1900, Desjardins and his wife, Dorimène Roy Desjardins, co-founded the first Caisse d'épargne Desjardins in Lévis and opened for business the following month. Later renamed Caisses populaires Desjardins (and today Desjardins Group), the organization was a forerunner of current North American credit unions. [1]
The Desjardins Group, as well as its subsidiary Desjardins Financial Security, are headquartered in the city. The founder, Alphonse Desjardins, lived in Lévis and, with his wife, Dorimène Roy Desjardins, ran the first Caisse Populaire (similar to a credit union) from their home. The city is also a major agricultural business research and ...