Serge Morel
P.O. Box 17222 Sarasota, FL 34276-0222
Fax: (941) 378- 8008 e-mail: serg@gte.net
9/20/2000
Page 440 of 579
Surprised and fascinated by the importance, the size, and the innovative character of the Mouvement,
Quebecers came aboard with massive support, rapidly increasing the number of members. At the same
time, the Mouvement was asked to become more actively involved in developing Québec's economy.
In 1971, special legislation enabled the creation of the Société d'investissement Desjardins which would
be soon joined by Crédit industriel Desjardins (Desjardins Industrial Credit).
Growth and Innovations
While its assets soared, also due to the effects of inflation, Desjardins continued to innovate,
implementing services like Inter-Caisses, direct deposit, and automated tellers. At the same time, it
created new support organizations such as the caisse centrale, a securities brokerage firm, a securities
transportation corporation, etc.
Its participation in launching the Canadian Payments Association confirmed it nationwide as a major
financial institution.
Unifying the Cooperative forces
During this period, there was more unification of cooperative forces in the area of savings and credit. For
example, the Credit Union Federation joined the Mouvement in 1979, and was soon followed by the
Québec Credit Union League.
By the
end of the
1980's,
the Mouvement was joined by francophone federations
located in Ontario,
Manitoba and Acadia.
(In
1980 was related at the CTRSM and in1984 with the FTQ with
the ACILR-CDRIL project
Total assets for the Mouvement,
which were at $2.5 billion in 1971, reached $44 billion by the beginning
of the 1990's.
It is not surprising that in 1988 there was a complete overhaul of the legislative framework that was
starting to seem outdated in view of the Mouvement's expansion. Under the new law, which was better
adapted to the size and diversity of its activities, the Mouvement gained the latitude to group subsidiaries
under holding companies.
Copyright © 2000 Confédération des Caisses Populaires et d'Économie Desjardins du Québec.
All rights reserved.
