Montreal, January 21, 2020 - Desjardins Group announced today that it is acquiring the mortgage portfolio of La Capitale. The transaction, which will see 6,376 mortgages transferred to Desjardins, will close on February 1.
"I'm proud of this acquisition, which solidifies Desjardins's position as a leader in the residential mortgage market," said Guy Cormier, President and CEO of Desjardins Group. "It's a high-quality portfolio from La Capitale that fits perfectly with Desjardins's expansion objectives, which include seeking out acquisitions to maximize synergies within our organization. We'll continue to pursue attractive growth opportunities in our primary markets."
La Capitale mortgage holders can expect to receive a letter after February 3 notifying them of the transfer and welcoming them to Desjardins. They won't need to do anything: their loans will be transferred automatically and their financing conditions will remain the same.
Desjardins always strives to do what's best for its members and clients. The financial cooperative is committed to delivering an excellent customer experience and will provide personalized support to new members and clients. A dedicated support centre will open on February 3 to answer mortgage holders' questions. They can call 1-844-875-3102.
What information did La Capitale transfer to Desjardins when they transferred my mortgage?
La Capitale transferred only information that's needed to administer your loan:
- Personal information such as your first and last name, address and phone number--Desjardins needs this information to meet various legal requirements.
- Banking information such as loan balance, monthly payment amounts, loan rate and what account you use for the automatic debit--Desjardins needs this information to maintain the same terms and conditions La Capitale established for your mortgage.
Your social insurance number wasn't transferred, because Desjardins doesn't need this information to administer your loan.
My mortgage was transferred to Desjardins. Am I covered by Desjardins Identity Protection?
Yes, you're covered by Desjardins Identity Protection. The protection includes the following components:
- Protection : Accounts and assets at Desjardins are protected
- Support: If a member's identity is stolen, Desjardins will provide individual support
- Reimbursement: Members may be reimbursed up to $50,000 for expenses they incur to restore their identity
As soon as your mortgage has been transferred to Desjardins, you can also sign up for the Equifax credit monitoring service by filling out this form.
How does Desjardins's mortgage offer compare to the competition?
Desjardins is Quebec's leader in residential mortgages. We offer more competitive rates for mortgage products than other major Canadian financial institutions.
When will I see information about my mortgage on AccèsD?
You'll see all the information about your mortgage on AccèsD as soon as your mortgage is associated with a caisse folio.
Before we make your loan information available on AccèsD, we'd like to meet with you to go over your file and make sure everything's in order.
My mortgage is up for renewal this year. What do I need to do?
For now, you don't need to do anything. Your peace of mind is our top priority--an advisor will get in touch with you before your renewal.
What if I have any other questions about the transfer?
A team is available to answer your questions and make sure this is a positive experience for you. Feel free to call them at 1-844-875-3102, Monday to Friday, from 8:30 a.m. to 8:00 p.m.