Despite Financial Crisis, Caisse Populaire Orléans Shows Impressive Performance

The president of Caisse Populaire Orléans opened its 65^th annual meeting, attended by more than 200 people, by thanking directors, elected officers and employees who have contributed to the Caisse’s success over the years. He also thanked members for their continuing trust and loyalty, noting that it is thanks to the contribution of all its partners that the Caisse is today a dynamic caisse populaire with more than $215 million in assets.

For the fiscal year ending on December 31, 2008, the Caisse declared net earnings of $1,742 945.

"We are very pleased with the results posted by the Caisse in 2008. This solid performance will ensure we are better prepared to face the challenges that await us in 2009, as Canada’s economy passes through a difficult and uncertain period. Our caisse populaire, whose capital base has just been strengthened, has all the assets it needs to continue effectively supporting and assisting its members and the community in these difficult times. This year, as part of a shared approach by all local Caisses Populaires, we felt it appropriate to allocate surpluses more conservatively between capital reserves and dividends", stated Mr. Pierre Benoit, president of Caisse populaire Orléans.

On December 31, 2008 the Caisse’s business volume, which includes all credit, savings and investment activities, amounted to $454,348,200.

Elections

Marcelle Bélec, Steven Dupont and Germain Souligny were elected to the Board of Directors for three-year terms, while Serge Martel was elected for a two-year term. The other Board members are Johanne Lacombe, Gisèle Savage, Annie Rémillard, Pierre Benoit and Jean-Guy Doyon.

Academic Scholarship Winners

The Caisse also took the opportunity to announce the winners of its academic scholarship program, under which it awarded $2,000 in scholarships to four young members between the ages of 15 and 30. The recipients are Anne-Marie Talbot, Tamar Alien, Isabelle Savage and André Killeen.

Exercise your democratic member privileges

At the Caisse populaire Orléans, each member’s rights are exercised in a democratic and equitable manner. Regardless of your volume of business the guiding principle is “one member one vote”.

As a member owner, the annual general assembly is your opportunity to :

• Review annual results;
• Elect the board of directors ;
• Ask questions and express your valuable opinions regarding business direction and orientation.

Please see the Caisse's annual financial report (PDF) for more information about the 2008 fiscal year.