Caisse posts positive results
Courtesy Google Maps
Caisse Desjardins Kahnawake members can expect a boost to their accounts in early June niá:wen to dividends from 2024, which are up year over year on the strength of increased surplus earnings.
In total, $673,258 is being distributed, with $628,258 going to members – over $65,000 more than last year – and $45,000 going to the Community Development Fund that sponsors a number of community causes.
This ratio was determined at the branch’s annual general meeting, which was held April 24, where Linda Deer, Nelva Diabo, and Hayley Morris joined the board, which was done by acclamation as there were only three nominations for the three available seats.
The Caisse posted $13.31 million in surplus earnings for the financial institution’s 2024 fiscal year, which ended in December. That’s an increase of over eight percent.
“Every year is different. It’s based on the budget, it’s based on the economy, it’s based on interest rates,” said Mandie Montour, general manager of the Caisse, noting the significance of countrywide and global economic forces.
A maximum of $50 will be allotted to members based on how many types of products they have with the branch.
There is also a volume dividend. According to Montour, savings and investments as well as loans and lines of credit will garner 65 cents this year per $1,000. Credit cards earn 58 cents per $1,000 in net purchases. There will also be $23 per $1,000 in premium for insurance.
“Overall, I can say last year was a good year again. We’ve been doing extremely well,” Montour said.
“What could happen this year, we don’t know. It all depends what’s happening out in the world, really.”
In 2024, the Caisse donated $41,729 to local causes in addition to $257,310 through the Community Development Fund.
The biggest ticket item by far was a contribution of $250,000 to the Kahnawake Cultural Arts Center (KCAC). The Desjardins federation kicked in $500,000 as well to that project, for a total of $750,000.
Other beneficiaries in 2024 included the Kateri Food Basket, K1037 Radio, and the Kahnawake Figure Skating Club, among others.
The Caisse Populaire Kahnawake has more than 6,000 members, most of them from the community, and a total of $776.14 million in overall assets.
“Looking at our community, we’re very proud of the growth that we’ve had over the last 37 years,” said Montour, noting the Caisse’s importance in supporting investment and on-reserve housing.
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Marcus Bankuti, Local Journalism Initiative Reporter
