Cash registers and banks are the two main types of financial institutions that provide retail banking services.
It is basically the cooperative model that distinguishes a caisse from a bank. While a bank is owned and administered by a few shareholders, a caisse belongs to its members.
As a member of a caisse, you can participate in its management and receive a portion of its financial surpluses in the form of dividends when the results allow it.
|Its nature||Financial Services Cooperative||Private institution|
|Its owners||Members of the Caisse||Some shareholders|
|Its objective||The economic and social well-being of all its members and the economic development of its community, for example by:
||Enriching its shareholders|
|Its management||Each caisse populaire is administered by community leaders who are elected by the members||The bank is managed by the head office, which is often located outside the city of its clients|
|Participation in the Annual General Meeting and Vote||
All members may participate in the annual general meeting of their credit union, vote and nominate themselves for election as officers.
One member = one vote
Only shareholders attend the bank’s annual general meeting
One share = one vote
|Distribution of surplus cash||Returns a portion of its surplus earnings to members and the community in the form of dividends, when the results allow it||Distributes a portion of its profits to a small group of shareholders in the form of dividends|