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Email this12:19 pm
March 17, 2018
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I just got a letter in the mail that all 11 Ontario caisses populaires will merge together to form the new "Desjarins Ontario Credit Union " on Jan 1,2020. The union will have 130,000 members, 50 branches, 60 ATM, over 7B in assets and over 14.6B in business volume.
Owners of Class A preferred shares will have their shares redeemed and deposited to their personal chequing account at that time.
It will be interesting to see if the new credit union will have any good offers. Right now the most interesting thing are their credit cards which offer good travel insurance.
More information can be found at:
https://www.desjardins.com/ca/landing-page/merger-caisses-ontario-fcpo/index.jsp
12:37 pm
December 12, 2009
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Hi Briguy,
I think you might've missed this discussion, so I'll include a link below where it has already been discussed in a more fulsome way, and is still being discussed. 
Also here:
And here:
Cheers,
Doug
1:40 pm
March 17, 2018
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@Doug I didn't see too much discussion about the impact of the amalgamation, ie. speculation if Desjardins will become more competitive ? When I first joined Desjardins to ultimately get one of its credit cards, I did it online, and didn't notice that I was joining an Ontario caisse rather than Desjardins Quebec. I just have a minimal dollar amount there since their interest rates aren't too competitive. And I regret joining since my identity has now been compromised, albeit I haven't seen any new credit applications yet.
4:52 pm
October 21, 2013
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I find it interesting that the specify how many members and how many branches. This would enable you to guesstimate appro how many members per branch.
I was curious about how many members it takes to make a branch viable, so asked a Meridian manger about this recently but was told it was confidential. I didn't appreciate the answer, as a "member owner".
.
5:06 pm
December 12, 2009
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Briguy said
@Doug I didn't see too much discussion about the impact of the amalgamation, ie. speculation if Desjardins will become more competitive ? When I first joined Desjardins to ultimately get one of its credit cards, I did it online, and didn't notice that I was joining an Ontario caisse rather than Desjardins Quebec. I just have a minimal dollar amount there since their interest rates aren't too competitive. And I regret joining since my identity has now been compromised, albeit I haven't seen any new credit applications yet.
Oh okay, that's fine. Regardless, I wouldn't worry about the data breach, @Briguy, for the following two reasons:
(1) it was an employee-related data breach. These are exceptionally rare and very hard to prevent; and,
(2) the fact that Desjardins has undergone this data breach actually works in your favour in that they will likely be hyper-vigilant in terms of improving their internal risk control processes versus, say, a comparable bank or credit union that hasn't undergone such a breach
At any rate, I remember you are in Ontario, right? Thus, the fact that you were able to join Desjardins CP online is good news for me who is interested in changing the provincial website to a province in which Desjardins accepts non-credit card members in order to buy Desjardins capital shares (paying 4.25% p.a.).
Cheers,
Doug
6:07 pm
March 17, 2018
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Doug said
Oh okay, that's fine. Regardless, I wouldn't worry about the data breach, @Briguy, for the following two reasons:
(1) it was an employee-related data breach. These are exceptionally rare and very hard to prevent; and,
(2) the fact that Desjardins has undergone this data breach actually works in your favour in that they will likely be hyper-vigilant in terms of improving their internal risk control processes versus, say, a comparable bank or credit union that hasn't undergone such a breachAt any rate, I remember you are in Ontario, right? Thus, the fact that you were able to join Desjardins CP online is good news for me who is interested in changing the provincial website to a province in which Desjardins accepts non-credit card members in order to buy Desjardins capital shares (paying 4.25% p.a.).
Cheers,
Doug
@Doug Desjardins has promised to pay any expenses related to the breech incurred by any of their members, even at any time in the future. So although I don't have much money there I probably will stay a member forever. I still don't have any of their credit cards, but may get one in the future. I have quite a few already, but am considering adding on Desjardins World Elite Mastercard and Scotiabank Passport Visa Infinite (Scotia credit card should be free now since I have the Scotiabank Ultimate package chequing account. By the way I don't understand why Scotiabank even offers the Preferred package chequing account since it has a lot less perks and the only difference is it requires a minimum of 4000 in account vs 5000 for the Ultimate )
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