Desjardins caisse members are once again invited to help strengthen their financial cooperative's capitalization
LÉVIS, QC, June 18, 2012 /CNW Telbec/ - To maintain its strong capitalization level, Desjardins Group is once again inviting caisse members to contribute to the capitalization of their financial services cooperative by acquiring capital shares in the Fédération des caisses Desjardins du Québec (the Federation). Today, Desjardins will be launching a capital share issue worth up to $1.2 billion. These shares are offered by the Federation and sold province-wide through the Desjardins caisse network.
The capital shares, which will only be issued to caisse members, have a par value of $10, and the minimum amount for each subscription is $100. The interest rate will be calculated annually and may not exceed the greater of the following rates: a) the average annual yield for 5-year Government of Canada bonds and b) 4.25%. For caisse members, acquiring these shares represents a long-term investment with good return potential. This type of investment is also a great way to achieve healthy portfolio diversification. Any members interested in acquiring these shares are invited to speak to their caisse advisor and refer to the prospectus which contains detailed information about the securities offered.
According to Monique F. Leroux, Chair of the Board, President and CEO of Desjardins Group, "As a cooperative financial group, Desjardins is once again appealing to members' sense of solidarity to meet the capitalization needs of the caisses and network components, while respecting the new regulatory capital requirements. The Federation's capital shares will help maintain a strong capital base, thereby providing members with a high level of security."
Since 1989, Desjardins members have subscribed for $2.1 billion in shares to help their financial institution meet its capitalization needs.
About Desjardins Group
Desjardins Group www.desjardins.com is the leading cooperative financial group in Canada with assets of $196.4 billion. Drawing on the strength of its caisse network in Quebec and Ontario and its subsidiaries across Canada, it offers a full range of financial products and services to its 5.6 million members and clients. Desjardins specializes in Wealth Management and Life and Health Insurance, in Property and Casualty Insurance, in Personal Services, in Business and Institutional Services. Ranked 18th among the World's 50 Safest Banks 2012 by Global Finance Magazine, Desjardins is supported by the skills of its 44,645 employees and the commitment of nearly 5,400 elected officers. A new education and cooperation program is now available to Desjardins members and the general public. For more information, visit www.desjardins.com/co-opme.
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