Do you know the differences?
|The Caisse populaire||The bank|
|Nature||Financial services cooperative||Private establishment|
|Owners||Caisse populaire members (you, your parents, your neighbours, etc.).||A few shareholders|
|Objective||The economic and social well-being of all its members and economic development of its community by, for example:
||Works to enrich shareholders.|
|Management||Each Caisse populaire is managed locally by elected officials and members.||Managed by the head office that is often located away from its clients’ community.|
|Participation in the annual general meeting and vote||
All members can take part in their Caisse populaire’s Annual General Meeting, vote and run for the position of elected officer.
1 member=1 vote
Only shareholders can attend the bank’s Annual General Meeting.
1 share=1 vote
|Distribution of surplus earnings||A portion of their surplus earnings is given back to their members and community through member dividends, when possible.||A portion of the profits is given to a small group of shareholders through dividends.|