{"id":12113,"date":"2021-03-31T11:55:15","date_gmt":"2021-03-31T15:55:15","guid":{"rendered":"https:\/\/www.caissealliance.com\/?p=12113"},"modified":"2021-03-30T14:50:33","modified_gmt":"2021-03-30T18:50:33","slug":"announcement-profit-distribution-2021","status":"publish","type":"post","link":"https:\/\/www.caissealliance.com\/en\/personal\/announcement-profit-distribution-2021\/","title":{"rendered":"Announcement: Profit Distribution"},"content":{"rendered":"

MEDIA RELEASE
\nFOR IMMEDIATE RELEASE<\/strong><\/p>\n

 <\/p>\n

Caisse Alliance pays out $5,000,000 in profit distribution to its members<\/h3>\n

NORTH BAY, ON \u2013 March 31, 2021:<\/strong> Caisse Alliance announces that 5 million dollars will be paid out to its eligible members in the week of April 5, 2021.<\/p>\n

Once again this year, cooperation is of great importance in order to overcome this difficult time. Members eligible for the 2020 refund will receive a letter in the mail in the coming days.<\/p>\n

\u201cFor the third year in a row, we are returning 5 million dollars to our members\u2019 pockets and into the Northern Ontario economy,\u201d explains Pierre Dorval, President and Chief Executive Officer at Caisse Alliance. The pandemic has affected us all, and we are proud to offer financial support to our members and to remain an important economic driver for our regions in these uncertain times. \u201c<\/p>\n

Mr. Dorval also wishes to thank all employees for their vigilance regarding regulatory measures. \u201cThanks to the commitment and collective effort of our team, we have been able to keep everyone safe and serve our members and our communities well.\u201d<\/p>\n

Mr. Philippe Boissonneault, Chair of the Board of Directors of Caisse Alliance, adds \u201cthat a wellanchored mission and shared values within our organization allow the Caisse to generate excess revenue in order to contribute to the success of our members and to the development of our communities despite the current global situation.\u201d<\/p>\n

How profit is distributed<\/strong><\/p>\n

After a third year of operations, the Caisse\u2019s financial results for the fiscal year ended December 31, 2020 allow us to distribute 5 million dollars to our members and communities again this year. This represents 15 million dollars in profit distribution in three years.<\/p>\n

\u201cAs requested by the members of the Caisse, the profit is distributed equitably in all the branches, said Mr. Boissonneault. We invite our members to consider investing or spending their refund in the local economy to help small and medium-sized business owners get through these difficult times.\u201d<\/p>\n

The Caisse pays a portion of its surplus earnings to its members: 4 million dollars to our members, $600,000 to our communities and $400,000 to our preferred shareholders. The profit is distributed according to the members\u2019 use of selected financial services at the Caisse and allocated as follows: 10% of the interest paid on personal residential mortgages and interest paid on residential mortgage-secured lines of credit (*up to $750 per account), 0.20% on term deposits and 0.10% on High Interest Savings Accounts.<\/p>\n

AGM<\/strong><\/p>\n

The Annual General Meeting (AGM) will be held in virtual format on April 27, 2021, in order to meet regulatory requirements related to COVID-19. This year, members will be invited to join the Caisse\u2019s board of directors and management team at the AGM. An invitation will be sent to all members during the week of April 12th, and they will need to register in advance if they wish to attend the AGM.<\/p>\n

\u201cWe would like to thank our members for their confidence and loyalty regarding their financial needs,\u201d says Mr. Dorval. We are proud to accompany and support you. We are Human, Available and Connected \u201c.<\/p>\n

 <\/p>\n

Highlights:<\/h3>\n
    \n
  • Caisse populaire Alliance limit\u00e9e was established on January 1, 2018, following the merger of the 12 caisses of L\u2019Alliance des caisses populaires de l\u2019Ontario.<\/li>\n
  • Caisse Alliance employs over 300 employees.<\/li>\n
  • Caisse Alliance has 30 branches in 24 Northern Ontario communities.<\/li>\n
  • Caisse Alliance has in excess of $1.9 billion dollars in assets.<\/li>\n
  • Caisse Alliance offers quality financial services to approximately 50,000 members.<\/li>\n<\/ul>\n

    – 30 –<\/p>\n

     <\/p>\n

    Media contact
    \n<\/b>Membres of the media, for interview, please contact:<\/p>\n

    Manon Aubin
    \nInternal Communications & Social Media Advisor
    \nCaisse Alliance
    \nEmail: manon.aubin@acpol.com<\/p>\n

     <\/p>\n","protected":false},"excerpt":{"rendered":"

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