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((Short description|Canadian association of credit unions))
((Multiple issues|
((more footnotes|date=January 2018))
((Expand French|Caisses Desjardins|date=January 2018))
((more citations needed|date=January 2018))
))
((Infobox company
| name          = Desjardins Group
| logo          = Desjardins Group logo.svg
| logo_size     = 200px
| image         = Complexe Desjardins, Aug 31 2022.jpg
| image_caption = The [[Complexe Desjardins]] in [[Montreal]]
| type          = [[Cooperative]]
| hq_location   = [[Lévis, Quebec|Lévis]], [[Quebec]], Canada
| foundation    = ((start date|6 December 1900)) in Lévis, Quebec
| key_people    = Guy Cormier, President & chief executive officer
| industry      = [[Financial services]]
| products      = [[checking accounts|Checking Accounts]]<br />[[Insurance]]<br />[[Brokerage firm|Stock brokerage]]<br />[[Investment Bank]]<br />[[Asset-based lending]]<br />[[Consumer finance]] |
| revenue = ((decrease)) [[Canadian dollar|Can$]]20.32 billion (2021)<ref name="Financials">((cite web |title=2021 Annual Report Desjardins Group |url=https://www.desjardins.com/ca/about-us/investor-relations/annual-quarterly-reports/index.jsp |website=Investor Relations|publisher=Fédération des caisses Desjardins du Québec |access-date=13 March 2022))</ref>
| net_income = ((increase)) Can$3.53 billion (2021)<ref name="Financials"/>
| assets = ((increase)) Can$397.09 billion (2021)<ref name="Financials"/>
| equity = ((increase)) Can$33.53 billion (2021)<ref name="Financials"/>
| aum = ((increase)) Can$91.26 billion (2021)<ref name="Financials"/>
| num_employees = ((increase)) 53,783 (FTE, 2021)<ref name="Financials"/>
| homepage      = ((URL|desjardins.com))
))

The '''Desjardins Group''' (((lang-fr|'''Mouvement Desjardins'''))) is a Canadian financial service [[cooperative]] and the largest federation of [[credit union]]s (((lang-fr|caisses populaires))) in North America. It was founded in 1900 in [[Lévis, Quebec|Lévis]], [[Quebec]] by [[Alphonse Desjardins (co-operator)|Alphonse Desjardins]].<ref name="martin">((cite journal|last1=Martin|first1=Joseph E.|title=Titans|journal=Canada's History|date=Oct–Nov 2017|volume=97|issue=5|pages=47–53|issn=1920-9894))</ref> While its legal headquarters remains in Lévis, most of the executive management, including the [[Chief executive officer|CEO]], is based in [[Montreal]].<ref>((cite web |last1=Couture |first1=Pierre |title=Desjardins dirigé de Montréal |url=https://www.journaldequebec.com/2016/05/10/desjardins-dirige-de-montreal |publisher=Le Journal de Québec |date=2016))</ref>

As of 2017, Desjardins Group consists of 293 local credit unions operating 1,032 points of service and serving more than seven million members and clients, mostly in the provinces of [[Quebec]] and [[Ontario]].<ref>((cite web |title=Desjardins en chiffres |url=https://www.desjardins.com/a-propos/desjardins/qui-nous-sommes/en-chiffres/index.jsp |ref=Mouvement dESJARDINS |date=2017))</ref>

In addition to [[retail banking]], the Group has over twenty subsidiaries offering products and services related to [[insurance]] ([[Desjardins Financial Security]], [[Desjardins General Insurance]]), [[real estate]] (with its [[Complexe Desjardins]] offices in Montreal and Quebec online estate agent ((interlanguage link|DuProprio|fr))), venture capital funds (Desjardins Venture Capital), and [[Brokerage firm|brokerage]] (Desjardins Securities). The Desjardins Group, through subsidiary Développement international Desjardins, is also active in over 30 developing countries through technical assistance programs and various investments. In October 2020, Desjardins launched a social impact fund, Aequitas, which could grow to 115 millions dollars and help women and youth in developing countries.<ref>((cite web| url = https://www.lapresse.ca/affaires/entreprises/2020-10-16/desjardins-lance-un-fonds-d-investissement-d-impact-social.php| title = Desjardins lance un fonds d'investissement d'«impact social» ((!)) La Presse| date = 16 October 2020)) </ref>

==History==
((more citations needed|section|date=February 2018))
After studying European credit institutions established in the 19th century, [[Alphonse Desjardins (co-operator)|Alphonse Desjardins]] in 1901 came up with an original solution adapted to North America.<ref name="martin" />

In the late 1990s, the number of ''caisses'' was reduced from 1275 to 800.<ref>((cite web |last1=Bérubé |first1=Gérard |title=L'âme de Desjardins
|url=https://www.ledevoir.com/opinion/chroniques/440009/perspectives-l-ame-de-desjardins |publisher=[[Le Devoir]] |language=fr |date=2015))</ref>

Between 2008 and 2010, total assets at Desjardins Group grew over 15% from [[Canadian dollar|Can$]]151.9&nbsp;billion (when it ranked sixth in Canada and first in Quebec among [[financial institution]]s ahead of the [[National Bank of Canada]]) to over $175&nbsp;billion in 2010.  In 2006, it had 6,500 elected and volunteer officers and employed over 40,000 people and gave its members $483&nbsp;million in patronage allocations and $64&nbsp;million in donations, sponsorships and academic scholarships.<ref name="leroux">((cite press release| url=http://www.newswire.ca/en/releases/archive/March2008/15/c4460.html| title=Monique F. Leroux Becomes First Woman Elected as President and CEO of Desjardins Group| publisher=[[CNW Group|Canada NewsWire]]| date=15 March 2008| access-date=2013-03-15))</ref> Most of the latter sum was used on regional economic development and health programs as well. In that same year, in March 2008, the election of Monique Leroux at the head of the group marked the history of Canada by becoming "Canada's largest company headed by a woman".<ref>((Cite news|url=https://www.theglobeandmail.com/report-on-business/rob-magazine/desjardins-quiet-revolution/article597309/|title=Desjardins' quiet revolution|last=Jacquie|first=McNish|date=24 February 2011|work=The Globe and Mail|access-date=2018-06-22))</ref>

In December 2010, it acquired the 121 offices and 500,000 customers of [[Zag Bank|Western Financial]] for $443&nbsp;million, giving it a presence in British Columbia, Alberta, Saskatchewan, and Manitoba.<ref name="bloomberg">((cite news| title=Desjardins to Acquire Western Financial for $439 Million, Expand in Canada| url=https://www.bloomberg.com/news/2010-12-23/desjardins-to-acquire-western-financial-for-439-million-expand-in-canada.html| author=Noah Buhayar| publisher=bloomberg.com| work=[[Bloomberg Businessweek]]| date=24 December 2010| access-date=2013-03-15))</ref>

In 2003, Desjardins bought the former [[Province of Ontario Savings Office]], which it branded ''Desjardins Credit Union'' and operated until 2011. This institution was then merged into [[Meridian Credit Union]].<ref name="meridian">((Cite news|title=Meridian, Desjardins agree to merger|url=http://www.financialpost.com/news/financials/Meridian+Desjardins+agree+merger/4366357/story.html|author=Barbara Shecter and John Greenwood| date=1 March 2011| work=[[National Post]]| publisher=financialpost.com| access-date=2013-03-15))</ref> (The similarly-named [[Desjardins Ontario Credit Union]], formed 1 January 2020 with the merger of 11 Ontario Desjardins-affiliated credit unions and their federation into one, is not the same entity and continues as a going concern.)

In 2014, Desjardins Group acquired the Canadian operations of U.S.-based insurance giant [[State Farm]].<ref>((Cite news|url=http://www.cbc.ca/news/business/montreal-s-desjardins-group-takes-over-state-farm-canada-1.2497720|title=Montreal's Desjardins Group takes over State Farm Canada ((!)) CBC News|work=CBC|access-date=2018-10-19|language=en-US))</ref> The policies were transferred to be underwritten by [[Desjardins Insurance]] on January 1, 2015. The State Farm brand continued to be used for agents and marketing until 2018.<ref>((Cite news|url=https://www.statefarm.ca/about-us/change|title=Change ((!)) Desjardins Insurance|work=Desjardins Agents|access-date=2018-10-19|language=en|archive-date=2018-08-15|archive-url=https://web.archive.org/web/20180815170832/https://www.statefarm.ca/about-us/change|url-status=dead))</ref>

On January 3, 2017, Desjardins Group announced the closing of the sale of its pet health insurance company, Western Financial Insurance Company to Economical Mutual Insurance Company.<ref>((cite web|url=https://www.petsecure.com|title=Economical Insurance completes acquisition|website=www.petsecure.com))</ref>((citation needed|date=February 2018)) Western Financial Insurance Company and its flagship brand, Petsecure were purchased in 2011 as part of the Western Financial Group deal.

On July 5, 2017, Trimont Financial, a wholly owned subsidiary of the Wawanesa Mutual Insurance Company, announced the completion of its purchase of the remainder of Western Financial Group from Desjardins Group for $775&nbsp;million. Included in the sale were Western Financial Group's Brokerage Network, Western Financial Group Insurance Solutions, and Western Life Assurance.<ref>((cite web|url=https://westernfinancialgroup.ca/News?n=203|title=Western Financial Group - News|website=westernfinancialgroup.ca))</ref>

In 2018, State Farm Canada was officially rebranded to Desjardins Insurance through Desjardins Insurance Agents. The whole transition was to be completed by the end of 2019.<ref>((Cite web|url=https://www.newswire.ca/news-releases/state-farm-brand-in-canada-to-become-desjardins-insurance-659112793.html|title=State Farm brand in Canada to become Desjardins Insurance|website=www.newswire.ca|language=en|access-date=2018-10-19))</ref><ref>((Cite web|url=http://www.company-histories.com/Mouvement-des-Caisses-Desjardins-Company-History.html|title=Mouvement des Caisses Desjardins -- Company History|website=www.company-histories.com|access-date=2018-06-22))</ref>

===2019 data breach===
On June 20, 2019, Desjardins Group reported a [[data breach]] involving personal data of 4.3 million individual users and 173,000 businesses, more than 40% of Quebec-based credit union's clients and members. The security breach, detected in December 2018, was not linked to a direct cyberattack, but the result of a disgruntled corporate employee. The data leaked was assembled over a certain period of time after unauthorized access to banking systems and copied customer data. Police investigation is still ongoing.<ref>((Cite web|url=https://www.ctvnews.ca/canada/desjardins-says-info-for-2-9m-members-shared-outside-of-organization-1.4475253|title=Desjardins says info for 2.9M members shared outside of organization|website=www.ctvnews.ca|date=20 June 2019|language=en|access-date=2019-06-20))</ref><ref>((Cite web|url=https://www.cbc.ca/news/canada/montreal/desjardins-data-breach-1.5183297|title=Personal data of 2.7 million people leaked from Desjardins|website=www.cbc.ca|language=en|access-date=2019-06-20))</ref>

==Credit agency ratings==
As of December 2018, Desjardins long-term debt is rated Aa2 by [[Moody's]], A+ by [[Standard & Poor's|S&P]], AA by [[DBRS]], and AA− by [[Fitch Ratings|Fitch]]. S&P and Fitch considered the company's outlook "stable," while Moody's and DBRS rated it "negative."<ref>((Cite web |title=Credit ratings |url=https://www.desjardins.com/ca/about-us/investor-relations/fixed-income-investors/credit-ratings/index.jsp |website=Fédération des caisses Desjardins du Québec))</ref>((Update inline|date=September 2023))

==See also==
*[[Desjardins (disambiguation)]]
*[[UNI Financial Cooperation|''Mouvement des caisses populaires acadiennes'']], New Brunswick, is inspired by Desjardins
*[[List of banks and credit unions in Canada]]
((Portal|Banks))

==References==
((Reflist))
<!-- Please do not type footnotes here. Instead insert the footnote in its proper spot in the body of this article using the <ref> </ref> tags. See [[Wikipedia:Footnotes]] for an explanation of how to generate footnotes using the tags.-->

==External links==
((Commons category-inline|Caisses Desjardins))
*((Official website|http://www.desjardins.com))
* [https://www.desjardins.com/ca/about-us/desjardins/who-we-are/quick-facts/index.jsp Quick Facts about Desjardins]
* [https://www.desjardins.com/ca/locator/caisses-by-region/index.jsp Branch Locator]
* [http://www.did.qc.ca/en/  Développement international Desjardins (DID)]

((Canadian banks))

((Authority control))

[[Category:Desjardins Group| ]]
[[Category:Banks established in 1900]]
[[Category:Canadian companies established in 1900]]
[[Category:Companies based in Lévis, Quebec]]
[[Category:Cooperative federations]]
[[Category:Credit unions of Canada]]
[[Category:Canadian brands]]
[[Category:1900s establishments in Quebec]]
[[Category:Mortgage lenders of Canada]]

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