Desjardins is Canada’s largest cooperative financial group and the dominant financial institution in Quebec. Founded on December 6, 1900 by Alphonse Desjardins in Lévis, Quebec — the first savings and credit cooperative in North America — it has grown to more than $520 billion in assets (Desjardins reported $524.3 billion in assets as at March 31, 2026) and serves 10 million+ members and clients across 189 caisses and branches in Quebec and Ontario (Desjardins’ own figures, as of December 31, 2025).
Unlike a bank, Desjardins is owned by its members. Surplus earnings are returned annually as member dividends rather than paid to shareholders. This cooperative structure, combined with Desjardins’ deep Quebec roots and bundled insurance offering, makes it the bank of choice for a majority of Quebec households.
Who Is Desjardins For?
Desjardins works best for:
- Quebec residents who want full-service cooperative banking and prefer a local institution with deep provincial roots
- Members who value profit-sharing — member dividends return a portion of fees and other activity annually, at a rate voted on by each caisse’s members
- Bundled banking and insurance buyers — Desjardins is a major P&C insurer, and bundling home and auto insurance can lower premiums
- Francophones — French-first service throughout, with full English available
Desjardins is less practical for:
- Canadians outside Quebec and Ontario, where Desjardins has no caisse branches
- Depositors who require CDIC protection specifically (Desjardins uses AMF/FSRA)
- Digital-only users who can get better savings rates from EQ Bank or other online-only banks
Chequing Accounts
Source: Desjardins “Service Fees for Individual Members,” effective March 12, 2026.
| Account | Monthly Fee | Fee Waiver (Min Balance) | Transactions |
|---|---|---|---|
| Desjardins Basic transaction plan | $3.95 | $1,500 | 12/month |
| Desjardins Intermediate transaction plan | $10.95 | $3,000 | 30/month |
| Desjardins Unlimited transaction plan | $15.95 | $4,000 | Unlimited |
| Desjardins Unlimited Plus transaction plan | $23.95 | $5,000 | Unlimited, plus drafts, certified cheques, a safety deposit box discount, monthly cheque images, and non-Desjardins ATM withdrawals included |
Desjardins now publishes one national fee schedule across its four transaction plans — Basic, Intermediate, Unlimited, and Unlimited Plus — rather than pricing that varies caisse by caisse.
Savings and GICs
Rates verified live on desjardins.com, 2026-09-15 — rates change frequently and are not locked in until purchase.
| Product | Rate | Notes |
|---|---|---|
| Regular (non-registered) savings account | 0.55% | Desjardins’ standard everyday savings rate |
| TFSA savings | 0.35% | Tax-free growth |
| FHSA savings | 2.00% | Tax-deferred growth |
| GIC — 1 year, non-redeemable | 2.70% (in-branch) / 2.85% (AccèsD Online Term S@vings) | |
| GIC — 5 year, non-redeemable | 3.25% (in-branch) / 3.40% (AccèsD Online Term S@vings) |
Desjardins’ everyday savings account rates are modest — well below the promotional rates commonly advertised by digital-only banks such as EQ Bank. GICs and term savings pay meaningfully more than the regular savings account, and the AccèsD-only online term savings rate is consistently higher than the equivalent in-branch rate.
Deposit Insurance
Desjardins deposits are NOT covered by CDIC.
| Province | Insurer | Limit |
|---|---|---|
| Quebec | AMF (Autorité des marchés financiers) | $100,000 per eligible category |
| Ontario | FSRA (Financial Services Regulatory Authority of Ontario) | $250,000 |
Eligible categories include deposits, TFSAs, RRSPs, RRIFs, and RESPs — each insured separately. For most retail depositors, AMF and FSRA protections are functionally comparable to CDIC. Ontario’s $250,000 FSRA limit is more generous than CDIC’s $100,000 per category.
Member Dividends
Each Desjardins member dividend combines two components (source: desjardins.com, “All about member dividends”):
- A product dividend — up to $75/year, based on how many of Desjardins’ product lines (accounts, credit cards, loans, insurance, wealth management) you held during the year
- A volume dividend — calculated using a rate applied per $1,000 of your average account/loan balances, net credit card purchases, or insurance premiums, depending on the product line
The volume dividend rate is voted on by members at each caisse’s annual general meeting, so it varies by caisse and by year and is not guaranteed. The amounts are modest individually but reflect the cooperative model: the institution exists for members, not shareholders.
Credit Cards
Source: desjardins.com credit card pages, verified 2026-09-15.
| Card | Annual Fee | Earn Rate |
|---|---|---|
| Cash Back Visa | $0 | Up to 2% on restaurants, entertainment, and alternative transportation (annual caps apply); 0.5% on other purchases |
| Cash Back World Elite Mastercard | $100 | Up to 4% on groceries (capped at $10,000/year); up to 3% on restaurants (capped at $6,000/year); 1% on other purchases |
| Odyssey Gold Visa | $110 | Up to 2% on restaurants and travel (capped); Bonusdollars rewards |
| Odyssey World Elite Mastercard | $130 | Up to 3% on groceries/restaurants (capped), up to 2% on travel (capped); Bonusdollars rewards plus travel insurance |
| Odyssey Visa Infinite Privilege | $295 (members) / $395 (non-members) | Premium Bonusdollars rewards; comprehensive travel insurance |
Desjardins credit cards are particularly competitive for Quebec residents who combine them with Desjardins banking and insurance relationships.
Insurance
Desjardins is the second-largest property and casualty insurer in Canada (after Intact), and is particularly dominant in Quebec. Products include:
- Auto insurance
- Home insurance
- Life insurance
- Travel insurance
- Disability insurance
Bundling Desjardins home and auto insurance (the “Double Contract” discount) can save up to $1,000 combined, per Desjardins’ own bundle-savings estimate.
ATM and Branch Access
| Network | ATMs |
|---|---|
| ACCULINK (fee-free partner network) | ~1,800 across Canada |
| Desjardins-owned | 1,559 as of a 2024 baseline; Desjardins has announced plans to cut its own ATM and branch count by ~30% by the end of 2026 |
Branch coverage (189 caisses and branches in total, as of December 31, 2025) is concentrated in Quebec, with a smaller Ontario presence through the separately incorporated Desjardins Ontario Credit Union (roughly 50 branches, including Ottawa, Sudbury, and Toronto locations), and no caisse branches in Western or Atlantic Canada. The ACCULINK network provides fee-free ATM access nationally at participating credit unions.