PRESS RELEASE
FOR IMMEDIATE RELEASE
During its past five years of operation, Caisse Alliance has returned over $23 million to its members and communities
NORTH BAY, ON – March 31, 2023: After five years of operation, Caisse Alliance is pleased to announce that it continues to display good results and enviable financial strength. To honour our members’ commitment, we are once again distributing a surplus, which represents $3,025,000 for this past year.
Of this amount, $1,885,000 is returned to members, $600,000 is attributed to special projects within our communities, and $540,000 is distributed to preferred shareholders.
“In addition to this sum of more than $3 million, we add a little more than $1 million was provided to our communities in the form of donations and sponsorships during this same period. Today, we are even stronger, more resilient, and above all, more present as a partner for our members and our communities,” explains Mr. Grégoire Lefebvre, Chair of the Board of Directors.
This distribution varies according to the member’s use of financial services. The calculation is made by allocating 4% of the interest paid on personal residential mortgages and on lines of credit secured by residential mortgages (up to a maximum of $375 per account) and 0.075% on term deposits. Members eligible for the 2022-member dividend have already received a letter in the mail or will receive one in the next few days. The payment will be made between April 3 and 7, 2023.
Pierre Dorval, President and Chief Executive Officer of the Caisse Alliance, expresses his gratitude. “None of this would be possible without the trust and participation of our members. We also have the largest and best team of approximately 350 employees who are committed to the quality of service and success of our cooperative. We are truly a NORTHERN Ontario financial institution that works FOR the people of NORTHERN Ontario.”
Since merging in 2018, Caisse Alliance has redistributed more than $23 million to its members and communities. The Caisse invites its members to consider investing or spending their member dividends locally to support our local businesses. Choosing local is important!
Annual General Meeting
The Annual General Meeting (AGM) will be held on April 25, 2023, at 7:00 p.m. The meeting will be held in a hybrid mode. Members can attend in person at the Centre régional de Loisirs culturels, located at 7 Aurora Avenue in Kapuskasing, or virtually on the Zoom platform. An invitation will be issued during the week of April 3. Virtual participation must be confirmed in advance through our website: caissealliance.com/en/2023agm.
“The Caisse’s board of directors and management team look forward to sharing its financial results, its achievements in 2022 and future initiatives,” says Mr. Lefebvre.
It is important to note that the meeting will be held in French only.
Highlights:
Caisse populaire Alliance Limitée was established on January 1, 2018, following the merger of the 12 caisses of L’Alliance des caisses populaires du Nord de l’Ontario.
Caisse Alliance employs 350 employees.
Caisse Alliance has 27 branches in 24 communities in Northern Ontario.
Caisse Alliance has assets in excess of $2.34 billion.
Caisse Alliance provides quality financial services to approximately 50,000 members.
Media Contact
Members of the media, to coordinate an interview, please contact:
Manon Isabelle
Communications Advisor
Caisse Alliance
manon.isabelle@acpol.com