February 16, 2010
Développement international Desjardins will increase its support to the Le Levier federation tohelp relaunch its network of financial cooperatives
Développement international Desjardins will increase its support to the Le Levier federation to help relaunch its network of financial cooperatives
Lévis (Québec), February 16, 2010 – Drawing inspiration from its values of solidarity and mutual assistance, Desjardins Group wishes to contribute in tangible terms to the relaunch of the economic system in Haiti and has announced that it will lend extra support to the Le Levier federation of Haitian financial cooperatives.
"Le Levier financial cooperatives play a key role in Haitian communities, and thanks to the expertise of Développement international Desjardins, we'll be able to help them not only to rebuild their infrastructure but also to actively breathe new life into local economic activity,"stated the Chair of the Board, President and CEO of Desjardins Group, Monique F. Leroux.
Through Développement international Desjardins (DID), which has been in Haiti for the past 15 years, Desjardins will offer its support to these Haitian financial cooperatives.
Support to be provided by DID to the Le Levier federation will take several forms, such as reconstruction of the Haitian cooperatives' infrastructures, reconstitution of data bases and relaunching of computer systems. Other examples of support include determining the status of portfolios and implementing a strategy for contacting members, helping community-based
mutual aid groups and also assisting the cooperatives to help restart economic
activities in the areas of retail business, hardware, general mechanics, building tradespersons, and sale of foodstuffs.
In addition to financial support, Desjardins will offer specialized staff to help at the Le Levier
federation. Desjardins is also encouraging its 42,000 employees and 6,300 elected officers, as
well as its caisses and various components to show their solidarity through an institutional
fundraising drive to help DID complete this project.
The Le Levier federation
The Le Levier federation comprises 50 cooperatives and 23 points of service that, throughout
the entire country, supply savings and credit services to their 340,000 members and clients,
representing 20% of the Haitian population. After the earthquake, four deaths have been
counted from among the federation employees and two from among the officers. The Le Levier
federation is now estimating the scope of the damage brought about by the earthquake on the
infrastructures of the cooperatives, six of which were destroyed and a half-dozen damaged, and
on the ability of its staff to gradually return to their usual activities. The federation is currently
planning its intervention priorities in providing support to its cooperative network.
About Développement international Desjardins
Développement international Desjardins (DID) is a component of Desjardins Group. For 40
years now it has supported the creation, development and strengthening of financial institutions
in over twenty countries in Africa, Latin America, the Caribbean, Asia and Central and Eastern
Europe. Specialized in providing technical support and investment for the community finance
sector, DID draws on the rich and diverse experience acquired through collaboration with
numerous partners, and on the 100 years of experience of Desjardins Group, the largest
cooperative financial group in Canada. DID works in partnership with the Canadian International
Development Agency, the World Bank and other multilateral organizations.
About Desjardins Group
Desjardins Group is the largest cooperative financial group in Canada, and the sixth largest in
the world, with overall assets of $163 billion. Drawing on the strength of its caisse network in
Québec and Ontario, as well as its subsidiaries, several of which are active throughout Canada,
Desjardins offers a full range of financial products and services to its 5.8 million individual and
business members and clients. Desjardins Group is also home to a wealth of expertise in
property and casualty insurance, life and health insurance, wealth management, services for
businesses of all sizes, securities brokerage, venture capital, asset management and secure
leading-edge virtual access methods, all part of an integrated offer that is the only one of its kind
in Canada. One of the largest employers in the country, Desjardins is backed by the knowledge
and skills of its 42,000 employees and the commitment of its 6,300 elected officers. To find out
more, consult www.desjardins.com.
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Source (for journalists only):
Caroline Phémius
Advisor, Media Relations
Desjardins Group
(514) 281-7000 or 1 866 866-7000, ext. 7646
caroline.phemius@desjardins.com
