Desjardins Group ahead of the pack for its financial services offer
to the regions
Québec City, May 14, 2018 -- During the parliamentary hearing on May 14 to address accessibility to financial services in the regions of Quebec, Guy Cormier, Chair of the Board, President and CEO of Desjardins Group, reported that his financial institution operates close to 2,000 ATMs, only 7% of transactions with Desjardins are conducted through ATMs. "Despite the fact that our members and clients make 90% of their financial transactions online, Desjardins has maintained a physical presence in all regions of Quebec that is much greater than that of the banks," explained Mr. Cormier.
Desjardins Group's President stressed that regional development is a community responsibility that requires concrete and immediate action. "Education, recognition of skills acquired abroad and access to high-speed Internet are essential to regional development," he stated. I encourage our parliamentarians to consider this an urgent matter, because it's the economic vitality of our communities that helps us keep our points of service operational."
In his closing remarks, Mr. Cormier reminded those in attendance of the necessity of protecting member assets to ensure the longevity of the institution. He quoted the founder of Desjardins Group, Alphonse Desjardins, who witnessed the closing of more than a quarter of the 187 caisses that had been founded during his lifetime, "The more our capital reserves grow, the greater our members' confidence in the caisses' financial strength and permanence. [...] But the caisses must be able to gain the confidence of members by clearly demonstrating their unquestionable financial strength, and this strength can only be attained by amassing sufficient capital as quickly as possible," Mr. Desjardins wrote in 1918.