Special to members of the Desjardines, Discount Symbolic amount intended to reward your commitment to your financial contribution – And this year, the money you will be given will probably be more than usual!
If you are a member of the Desjardines, you will receive a sum of money from your Kaisse each spring. That little extra will probably make you smile years later, but where does it actually come from? Follow the guide to learn more about the discount!
How much is the discount?
As a financial cooperative, Deszardins returns a portion of its financial surplus to members who own products and accounts. Once a year1Under certain conditions, the financial institution pays a pre-determined amount in the pockets of approximately 97% of eligible members in its pool.
This purpose is intended to thank them for being members of a cooperative: this is called a personal rebate. Individuals and businesses can benefit from it.
Since Desjardines members have their say in the development of their community, the organization responds as best they can to their needs and requests, by modifying the conditions that qualify for a rebate, or by holding regular meetings, for example.
In addition, over the past three years, many changes have been made to make rebates more accessible, more personalized, and more affordable from one case to another.
Calculation of discount
How to calculate personal discount? It has two components, namely volume rebate and production reduction.
According to your premium for insurance products, the volume reduction is calculated according to the average balance maintained in each product household for the year.2 And the amount of purchases made with credit cards per year. The voting rate for every $ 1,000 applied to your total.
The maximum amount you can receive as a personal discount for a product discount (individual members) is $ 50. Every family should have at least one product if you want to benefit from it.
Members aged 30 and under are eligible if they have at least one in three products in four families, such as a checking account, credit card and tenant home insurance (or investment).
Dividend paid back to society
Community Dividend Supports local programs that improve the quality of life of communities. Using their Community Development Assistance Fund, various community cases donate to selected projects in support of Quebec’s socio – economic development.
For 2021, $ 53 million will be donated to a number of projects that will have a specific impact on their community.
The 2021 rebate will be paid from May 30 to June 10, 2022. Learn more about the benefits of these Desjardins by visiting Financial Institution Website.
1 For Kaise to pay the discount, there are 2 conditions:
1) The Movement must have the financial capacity to pay dividends.
2) Kaisse members must decide to give a discount. The members meet at the annual general meeting in accordance with the applicable legal requirements for the payment of dividends and the payment of a portion of the surplus to the Community Development Assistance Fund.
2 For businesses, the volume rebate only applies to loss insurance in Quebec and personal general insurance is not provided to policyholders.
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