7 things to know about the discount

If you’re a member of Desjardins, you’ve definitely heard about the earnings. You may have seen it on their website when paying your bills or at regular checkouts.

principle Discount It’s simple: as a cooperative, Desjardins returns a portion of the financial surpluses of the Cases and Desjardins group to its members. In short, it is an amount of money that you can get once a year, under certain conditions.

The discount is redistributed to members in two parts: the individual discount and the community discount, which is transferred through the Community Development Assistance Fund.

Here is the basic information to remember about the discount:

As a cooperative, Desjardins stands out from other financial institutions in Quebec by contributing to the economic well-being of individuals and societies.

Its members contribute to its activities in different ways: of course, through the use of certain financial products, but also through participation in public meetings and participation in various levels of decision-making processes.

By choosing Desjardins for your financial needs, you contribute to its activities and profitability. In turn, Desjardins redistributes part of its surplus in the form of an individual dividend once a year, if conditions permit.

Wondering how to take advantage of the discount? Note that if you are a Caisse member and the terms allow it, you qualify. The purpose of this token amount is to reward your commitment to your financial cooperative, no matter how much money you keep in your accounts.

Both individuals and businesses benefit from the discount. A total of 97% of the total members will get a discount this year.

A single discount has two components: volume discount and product discount. Volume discount is an amount allocated based on the quantities you have in the four product groups:

– accounts

Loans, lines and credit cards

Appointments and investments

– insurance

It is adjusted according to your financial participation in your fund. Here’s how this discount is calculated: An allowance amount is issued according to a calculation based on premiums and average balances in each of the above four product groups during the year.

For every $1000, an amount is added to your discount volume. For credit cards, the calculation is based on the net purchases made on your card during the year.

On the other hand, product discount is related to the number of products you own in the four categories. Members age 30 or younger are eligible if they have at least one product in three of the four families, such as a checking account, credit card, and home (or investment) insurance.

Members who own at least one product in each major family during the year are paid a maximum of $50.

The Community Dividend helps support local initiatives that improve the quality of life for communities. Through the Community Development Assistance Fund, Al Qaisioun donates funds to organizations in their community to support the social and economic development of the communities.

For example, the community benefit has enabled the Notre-Dame-de-Liesse school in St-Georges-de-Malbaie, in Gaspésie, to benefit from an exceptional park school including an outdoor classroom, socializing area, outdoor course, Slide hills, container gardens, and more.

The single discount has evolved over the past three years to become more accessible, more transparent and above all fairer from one coin to another.

In doing so, he responds more to the needs and requests of the members, who convey their wishes to their dismissal. This year, an additional 72,000 members will receive the earnings.

This year, an additional $54 million will be paid out in dividends, which should have an impact on how much the vast majority of members will receive. In addition, all members (except companies) will benefit from the addition of credit card volumes and therefore can get larger amounts.

Specifically, the individual deduction goes from $333 million to $387 million, and the community deduction goes from $47 million to $53 million.

Payment dates vary each year. For the 2021 discount, paid in 2022, members will be able to receive the amount between May 30 and June 10, 2022.

The winnings are your advantage for being a member of Desjardins. Find out about the discount by visiting Desjardins website.