Media Release
FOR IMMEDIATE RELEASE
A COOPERATIVE THAT BUILDS A BETTER WORLD
A year that surpassed expectations and generous dividends totalling nearly $30 million in 7 years
NORTH BAY, April 30, 2025 — As part of its 7th Annual General Meeting (AGM), held yesterday, April 29, in person at the West Nipissing Community and Recreation Centre in Sturgeon Falls and broadcast simultaneously in virtual mode, Caisse Alliance’s management team presented its members with an enviable report for the fiscal year ending December 31, 2024.
Business Growth
Caisse Alliance’s Board Chair, Grégoire Lefebvre, confirms that 2024 far exceeded expectations, with business growth of over 6% and an increase in retained earnings of more than $9 million. “Member deposits exceeded $2.10 billion. Our assets total nearly $2.58 billion, an increase of almost $153 million in one year. The Caisse has added $8.691 million to its reserves despite the current economic climate,” states Mr. Lefebvre. “These results are not just numbers, but concrete proof that trust in Caisse Alliance is stronger than ever.”
This performance is partly attributable to business loans. “The Caisse remains the financial institution of choice for most of our small and medium-sized businesses,” adds Caisse Alliance’s President & Chief Executive Officer, Pierre Dorval. “These results are made possible thanks to our employees’ hard work, our members’ trust, and our close relationship with them.”
Member Dividends and Community Contributions
The 2024 results allowed for the distribution of individual and community dividends totalling $3.36 million, translating into just under $30 million in seven consecutive years.
A total of $911,317 was disbursed at the community level through bursaries, donations, sponsorships, and through three funds, helping bring some 500 projects to fruition in our communities. “We are proud to see our members benefit from our collective success. The Caisse demonstrates that combining financial performance with social impact is possible,” says Mr. Dorval.
Revolutionary Projects
As a driving force for positive change and development, the Caisse has rolled out several projects that go far beyond the role of a financial institution, including a new buy local program and a community assistance program. Also noteworthy is a new opportunity for member share investment and an evolving youth program.
The Power to Act
“Following our major IT conversion project in October 2023, our teams have delivered excellence and efficiency,” reiterates Mr. Dorval. We make countless efforts on an ongoing basis to make our tools even more effective and ensure satisfaction.”
Caisse Alliance is growing and more in control of its destiny than ever. Our autonomy allows us to implement initiatives and solutions tailored to our members’ needs and in keeping with our cooperative values,” he adds. “We succeeded in doing this in 2024, with groundbreaking projects demonstrating how our Caisse stands out from all the other financial institutions in our region.”
Board of Directors and Corporate Governance
Despite economic and political instability, the Board of Directors remains resolutely optimistic. “We have a highly qualified administrative team ready and willing to respond to and meet today’s challenges,” concludes Mr. Lefebvre. “In a climate conducive to constructive discussion, divergent ideas are transformed into bold, innovative solutions, which sets us apart and gives us an undeniable competitive edge.”
Four directors were elected by acclamation at the AGM. Re-elected were Grégoire Lefebvre (Nipissing-East region), Paul Levesque (Nipissing-Central region), André Lefebvre (Nipissing-West region), and Sonia T. Gravel (North-Central region).
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Caisse Alliance is a financial cooperative with 26 service centers in 24 Northern Ontario communities. It has some 55,000 members, nearly 400 employees, a Board of Directors consisting of 12 directors and 35 members, and eight volunteers on six regional cooperative committees.
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Media Contact
Emilie Deschênes, Communications Advisor
E-mail: emilie.deschenes@caisse.coop
Watch our 2025 AGM (summaries in English):