What is a caisse populaire?
Caisses populaires offer an alternative to banks. We explain what they are and how they benefit their members.
Why are mortgages so expensive in Canada?
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A caisse populaire is a type of Canadian financial services cooperative offering loans, deposits and other financial services. Caisses populaires work much like credit unions—they are owned and operated by their members, providing an alternative to banks, which are owned by and managed for the benefit of their shareholders. Currently there are more than 1,400 branches of caisses populaires in Quebec and Ontario.
Example:“Canada’s first caisse populaire was founded in 1901 by Alphonse Desjardins in Lévis, Quebec. His goal was to provide affordable credit to the province’s farmers and workers, through a member-owned model based on European people’s banks and rural credit unions.”
Read more about caisses populaires:
- When a bank’s not a bank: How fintechs are transforming banking in Canada
Neobanks are giving Canadians alternatives to big, traditional banking institutions. We break down what neobanks are, how they got here and what they’ll change about the future outlook of banking. - The ultimate treasure hunt
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