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Here's what you need to know about the discount

Here’s what you need to know about the discount

Every year, Desjardins gives out a cash amount to its members, whether they are individuals or companies. This is part of the financial surpluses produced by the Kaisers and the Desjardins Group redistributed in the form of Discount.

If you are a member of Desjardins, you may have already taken advantage of this discount. After all, 97% of the members of this financial cooperative will be able to benefit from it this year.

However, if the process of operating the Desjardins feature still needs clarification and you want to better understand how it works, here are answers to the most frequently asked questions about the discount.

How does the Desjardins discount work?

The discount aims to get acquainted with the overall working relationship between Desjardins and its members. The principle is simple: part of the surplus funds generated by this financial cooperative is redistributed to the members once a year if conditions permit.

The return is a symbolic return to thank the members for their participation in the cooperative. This is one of the things that distinguishes Desjardins from other financial institutions.

How can I take advantage of discounts?

As a member of the fund, you can get the earnings. The amount of cash you have or the value of your products does not affect your eligibility, but it may affect your discount amount. This year, thanks to the changes made by Desjardins, an additional 72,000 members will receive earnings.

How do you calculate the individual discount?

A single discount consists of two parts: volume discount and product discount.

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First, the volume discount is calculated according to your financial participation in your fund. An allowance is issued based on a calculation based on premiums and average balances in each of these four product groups during the year:

  • accounts
  • Loans, lines and credit cards
  • appointments and investment
  • insurance

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

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.

As for the product discount, if you own at least one eligible product from each of the four product groups listed above, you can get up to an additional $50. A total of $387 million in individual sponsorship earnings will be provided in 2022 for 2021.

What is the community return?

This discount aims to support local initiatives that improve the quality of life for communities. This year, $53 million will be awarded in community dividends.

Trusts across Quebec donate sums of money through the Community Development Fund to help communities launch new projects.

What kind of projects does this amount support?

For example, in 2021, Fonds d’aide au développement du milieu de la caisse in Drummondville participated in the local buying campaign Would be nice to buy in Drummondville By donating $50,000. A sum of money that made it possible to support retail businesses, fitness centers and recreational businesses in the MRC with enhanced vouchers. This initiative strengthened 107 participating merchants thanks to the commitment of the partners.

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When will the discount be paid?

This year, dividends will be distributed from May 30 to June 10, 2022 and should most members see an increase, an additional $54 million total will be paid out.

Find out more about Desjardins discount By referring to the website of the financial institution.