Desjardins buys out Le Capitale portfolio

Desjardins Group has announced that they are buying the portfolio of Le Capitale, moving 6376 mortgages transferred over to the company. The transaction will be in early February according to a recent press release.

“I’m proud of this acquisition, which solidifies Desjardins’s position as a leader in the residential mortgage market,” said Guy Cormier, President and CEO of Desjardins Group. “It’s a high-quality portfolio from La Capitale that fits perfectly with Desjardins’s expansion objectives, which include seeking out acquisitions to maximize synergies within our organization. We’ll continue to pursue attractive growth opportunities in our primary markets.”

Mortgage holders currently with Le Capitale will receive a letter after February 3 to make them aware of the transfer and welcome them aboard with Desjardins. The transfer requires no action on the part of the holder and their loans will be moved automatically with no change to the conditions of their financing.

Desjardins is opening a new support centre dedicated to the questions of their mortgage holders. The financial cooperative is committed to delivering excellent customer service and provides personalized support for new members.

Desjardins Group has assets of $312.5 billion, making them the fifth largest cooperative financial group in the world and the leading group in Canada. It’s good for Canadian employment as well, rated one of Canada’s Top 100 Employers according to Mediacorp. Offering a full range of products and services, it has been highly ranked among the strongest banks in the world by The Banker Magazine.