Alphonse Desjardins founds the first Caisse Populaire

March 25, 2017

Alphonse Desjardins, Topley Studio. Library and Archives Canada, PA-027753

1900

In the 1800s, it was difficult for the working poor to gain access to financial services such as banking and credit. Alphonse Desjardins, a journalist and the stenographer for the House of Commons, organized a cooperative savings and loan society in Lévis, Quebec, named the Caisse Populaire de Lévis. It was owned and operated by its clients, who were able to have a voice in its operation and share in the profits. With the support of the Catholic Church in Quebec and numerous politicians, more Caisse Populaire were established. At the time of Desjardins’ death in 1920, there were 140 in existence.

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