QUEBEC CITY, June 11, 2014 /CNW Telbec/ - The year 2014 marks the 50th anniversary of Universitas and the achievement of an important milestone: the crossing of the threshold of $1 billion in assets under management. The organization has assumed a pioneering role by being the first and only Quebec-based foundation promoting education savings in Quebec.
As an industry leader in the field of registered education savings plans (RESPs), Universitas enjoyed significant growth over the past decade. In 2014, assets under management amounted to $259 million; since then, the organization's business volume has more than tripled.
This increase was strengthened, in particular, by the introduction of the Quebec Education Savings incentive (QESI) in 2007. This government grant results in part from numerous representations made to the government by Universitas. However, much of this progress can be attributed to the organization's product development, which has focused on improving and constantly broadening access to post-secondary education.
"This is an important accomplishment; it is all the more significant that it is the result of the organization catering to the needs of a market niche relatively small in scope through the distribution of RESPs," says Gaston Roy, President and CEO of Universitas. "The organization is proud to have crossed this major threshold as this success is directly linked to the trust placed in us by thousands of subscribers" he added. Universitas has almost 150,000 active subscribers across Quebec and New Brunswick.
The progress achieved is such that a much-needed relocation is being planned for 2014 to support this growth. To this end, Universitas has already proceeded with the sale of its current office building (located on Maricourt Avenue in Quebec City) and is set to move to a newly-built office space at 1035 Wilfrid-Pelletier Street, next to the Henri IV highway.
Universitas aims to pursue its growth through various initiatives intended to further enhance the customers' (subscribers and beneficiaries alike) experience, including through steady investments in its technology platform.
Since its inception in 1964, Universitas has become a leader in the RESP industry across Quebec and New Brunswick. It is the only foundation specialized in the field to hold its place of business in Quebec. The mission of the organization is to promote accessibility to post-secondary studies through savings and educational assistance payments. Universitas has over $500 million paid out in EAPs and returned savings, as well as more than 208,000 current beneficiaries. For more information, please go to universitas.ca.
Image with caption: "The year 2014 marks the 50th anniversary of Universitas and the achievement of an important milestone: the crossing of the threshold of $1 billion in assets under management. The board of directors and employees were gathered in front of the head office this week to celebrate this historic moment. (CNW Group/Gestion Universitas inc.)". Image available at: http://photos.newswire.ca/images/download/20140611_C2704_PHOTO_EN_3591.jpg
SOURCE: Gestion Universitas inc.
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