In 2015, La caisse populaire de Timmins is celebrating its 75-year anniversary. In order to celebrate this great milestone, the Timmins Chamber asked La caisse's Emilie Deschênes a few questions about this achievement.
Q: Provide a brief description of your business.
This year, we are celebrating our 75th anniversary, having opened our doors to the community in 1940! This represents three quarters of a century of growth, success and friendships. Over the years, our financial institution has helped to achieve goals and make dreams come true while maintaining a strong connection with our members and our community.
In the past year, La caisse populaire de Timmins’ assets have grown by 9.12%. These assets now total $233 million. Moreover, our lending portfolio has grown by 4.3%. Our current portfolio consists of $60 million in commercial lending, $102.6 million in mortgage lending, $31.5 million in personal lending and $182.8 million in deposits.
As a cooperative, it is one of the Caisse’s missions to contribute to the betterment of what matters the most: our local communities, our citizens, our families and our children.
Q: How many employees do you have?
Our team consists of 37 full- and part-time employees in Timmins, Iroquois Falls and Val Gagné.
Q: What factors have helped you to successfully reach this particular milestone?
Our excellent service, our friendly and devoted staff, our exemplary board of directors, our involvement in the community, our expertise and our competitive rates are some of the elements that make us a strong and successful financial institution. Moreover, the dividends that we return to our members make us unique! In 2014, La caisse populaire de Timmins granted $600,000 to its members. That means a total of $3.2 million has been distributed locally within the last seven years!
We are responsive to our members’ needs, and we always strive to offer the services and products that best suit their needs.
Financial decisions are made locally, and therefore the process is simple, the response time for approval is prompt and our members are satisfied.
Q: What has been your most memorable moment in business?
The construction of our new building at 45 Mountjoy Street North in 1998 was a memorable moment. As we moved into our new office in November 1998, growth accelerated, new members joined, a new point of service was added on Riverside Drive, and two branches were acquired in Iroquois Falls and Val Gagné.
Q: What’s one interesting thing about your business that people might not be aware of?
All of our services are offered both in French and in English.
Our service is personalized, all requests are considered on an individual basis, and all calls are answered locally and returned within 24 hours.
Our head office at 45 Mountjoy Street North is open on Saturdays (from September to May) with extended hours on Thursdays (9:30 a.m. to 8 p.m.) and Fridays (9:30 a.m. to 6 p.m.)
When you join the Caisse, you become an owner. We are a cooperative organization which means that we are owned by our members and it is our mandate to fully meet their needs and ensure their complete satisfaction.
Financial investments may entitle our members to potential dividends each year. Not only do we offer the best rates in town, but we always work towards the enhancement of our members’ investment returns. For example, under the new rules outlined in the federal budget, you can invest up to $10,000 in a Tax-Free Savings Account this year. We are helping you get the most out of your money by offering a 2.25% interest rate plus dividends, which could represent an extra 0.25%.
We offer free parking, and drive-thru ATMs are available at two different locations (45 Mountjoy Street North and 1465 Riverside Drive in Timmins).
Q: What is the biggest challenge you have overcome as a business to reach this milestone?
The local economy is a challenge for businesses and it is no different for La caisse populaire de Timmins. However, we have always tried our best to remain competitive at every level. We are a strong financial institution thanks to our loyal members.
Q: What has your experience doing business in Timmins been like thus far?
Doing business in Timmins is like serving family. The close relationship we have with our members and the community at large makes this experience a special one for us. In return, we are pleased to give back and support a variety of local organizations each year.
Q: Describe how your business started, and how it’s changed over the years.
Our journey began in 1940 on Wilson Avenue. Throughout the years, our team has grown significantly and the Caisse has evolved to become what it is today. A modern and spacious facility was built on Mountjoy Street North in 1998. Offering a wide range of services, we are the only financial institution in Timmins with drive-thru ATMs. Our slogan says it all: “75 years and growing”.
Q: What can we expect from your business in the future? Are there any plans on the horizon you would like people to know about?
La caisse populaire de Timmins is in constant evolution and we owe our success to our valued members. Contributing to our community has always been part of our philosophy, it has always been expressed in respect towards our members, the members of the community, local organizations and institutions, and we will remain fully engaged. We will not only continue to grow as a financial institution, but we will continue to grow with our community.