Desjardins Financial Security

So long, Retirement (December 16, 2009)
Desjardins Financial Security's Group Retirement Savings serves local Calgary market (December 16, 2009)
Is the credit madness over? (December 14, 2009)
Have Canadians kicked the saving habit? (December 11, 2009)
Retirees were hit hard by the recession (December 9, 2009)
What's life like for today's retirees? (December 8, 2009)
Who did the recession hurt more: workers or retirees? (December 3, 2009)
Desjardins Financial Security posts net income of $150.9M and continues to make its mark on the Canadian market (November 30, 2009)
Desjardins Financial Security makes someone a lucky winner with its national contest (September 30, 2009)
Ready, set, aim with On Target Retirement! (September 11, 2009)
Desjardins Financial Security wins 12 prizes in the 2009 IFCA contest (September 9, 2009)
Financial Assistance to Help Fight Against Cancer (September 3, 2009)
Desjardins Financial Security reports net income of $83.3M and asserts its financial strength (September 2, 2009)
Employees, employers living different recession realities according to health survey (July 16, 2009)
Seven out of ten Canadians plan to travel for their summer vacations
Many will remain within Canada and even within their own province (July 16, 2009)
Desjardins Financial Security posts net income of $30.5M, maintaining solid financial footing (May 27, 2009)
SFL Partner of Desjardins Financial Security opens a new financial centre in Montréal's West Island (May 21, 2009)
Desjardins Financial Security opens new Vancouver-based Group Retirement Savings Sales office (May 20, 2009)
Recession-Stressed Workers Need Employers’ Support (May 4, 2009)
Desjardins Financial Security Launches Foresight, Group Retirement Savings Solution, Selects Morningstar as Independent Provider of Research, Data, and Portfolio Construction (April 30, 2009)
Self-employed Canadians managing recession, but not managing risk (April 1, 2009)
Group RRSPs holding strong in the face of economic turmoil (February 25, 2009)
Saving is the new black (January 26, 2009)

Montreal, December 16, 2009 -- The mass exodus of Canadian baby boomers may not be as dramatic as originally expected. In fact, more than three in ten people (31%) between the ages of 53 and 62 who responded to Desjardins Financial Security's 8th annual Rethink Retirement™ survey said they were more than five years away from retirement, and only 23% hope to stop working completely once they retire.

A risky approach

Although it's true that today's retirees remain active longer than previous generations, gradual retirement may not be the answer for everyone. On the one hand, close to half (47%) of the Canadian workers surveyed in the 2009 study indicated they hope to transition to retirement by gradually reducing their hours. On the other hand, only one in five current retirees retired gradually, while close to three quarters of them (72%) made a clean break. Is this due to different expectations or the changing times? Only time will tell. Nevertheless, with the 414,000 job losses that have occurred in Canada since November 2008¹, the question may be whether employers will be able to retain all of these retirees interested in transitioning out of the workplace.

What about those who want to work but can't?

Another consideration is whether employees will actually be able to continue working. According to Statistics Canada, four in ten Canadians over the age of 65 (1.7 million people) suffer from some sort of disability² that makes performing daily activities difficult or reduces the quality or type of activities they can participate in because of an impaired physical or mental state, or from some other health problems.

"The unfortunate thing is that people who can't afford to retire at age 65 are unlikely to ever be financially ready, and that's not good news for employers. Older workers are generally better paid than their younger counterparts, so employers are fully justified in expecting their employees to come to work in full possession of their faculties and because they want to be there, not out of financial necessity," adds Karrina Dusablon, Director, Education Centre and Global Management at Desjardins Financial Security.

Do you want to find out more?

Visit the Rethink Retirement section in our newsroom or the Meet the Experts section for interviews with health and retirement experts.

About the Rethink Retirement Survey
Desjardins Financial Security wants to find out what Canadians are thinking about saving and retirement planning, and how it can better assist them by promoting awareness and developing products and services that are well-suited to their needs. This is our eight annual survey exploring how prepared people are for their retirement. This year, SOM conducted web survey on our behalf in August 2009. In total, 1,524 interviews were conducted with a representative sample of Canadian adults. The data was statistically weighted to accurately reflect the composition of Canadians by region, gender, age and language (mother tongue) based on 2006 Census information.

About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest cooperative financial group in Canada, specializes in life insurance, health insurance and retirement savings products for individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. The Company employs 3,800 people and administers over $21.9 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.

¹Statistics Canada, Persons with disabilities, according to age group and sex, 2006.
² Desjardins economic studies, Economic and Financial Forecasts, October 2009

Desjardins Financial Security's Group Retirement Savings serves local Calgary market

Calgary (December 16, 2009) -- Desjardins Financial Security is proud to announce that its Group Retirement Savings sales office is now open for business in Calgary.

"We are very excited about this new venture because we can now provide hands-on, face-to-face service that our clients have come to expect," said Margo Fairburn, Desjardins Financial Security vice president of operations. "We're also proud to offer client's flexible, customised retirement solutions that will help make their group retirement programs more efficient for their employees."

This new sales office represents Desjardins' ongoing commitment to growing their business across Canada and follows closely on the heels of a recent office launch in Vancouver, British Columbia.

For more information and to inquire about Desjardins Financial Security group retirement products, please contact:

Desjardins Financial Security
Group Retirement Savings Division
Bow Valley Square 1
202, 6th Avenue S. W. Suite 570
Calgary, AB T2P 2R9
Phone: 403-216-5740, 1 877 532-6029
Fax: 403-532-6036

Is the credit madness over?

Montreal, December 14, 2009 -- Although 21% of Canadian workers and retirees say they’ve taken steps in the past year to improve their financial situation, including paying off their debts (18%), many Canadians are facing a new challenge. More than one in four (27%) respondents to Desjardins Financial Security’s 8th annual Rethink RetirementTM survey saw their debt increase during this same period.

More workers (31%) than retirees (19%) reported increased debt. If one in two retirees (48%) had less than $1,000 in debt, more than one in two (51%) workers had more than $10,000 in debt, compared to one in three (34%) retirees.

Among workers, it was couples with children (20%) who were most likely to have the highest level of debt – more than $50,000 – and late boomers between the ages of 43 and 52 (20%).

“Since most workers are in the most expensive period of their life, especially the 88% who still have children living at home, this high level of debt probably isn’t a real cause for concern,” says Jean-Rémy Deschênes, Business Coordinator, Wealth Management Services, Desjardins Group. Their challenge will be to make sure that they achieve a good balance between spending and saving once this period is over.”

Have Canadians kicked the saving habit?

Montreal, December 11, 2009 -- Much to the disappointment of financial institutions, Canadian household savings took a tumble during the years of economic growth. Did last year's recession teach us anything? It seems so: one third of Canadian workers and retirees (33%) claim to have altered their saving habits over the past year, according to Desjardins Financial Security's 2009 Rethink Retirement™ survey.

More workers (36%) than retirees (25%) said they changed their saving habits in the past twelve months, even though more than half of all retirees (53%) saw their savings and investments shrink, compared to close to four workers out of ten (36%). When asked how their habits changed, more than a quarter (27%) of the respondents said they had less money to save, while 23% indicated they put more money aside.

Is a bird in the hand really worth the compromise?

How did some Canadians manage to improve or maintain their financial situation? The answer is compromise. 55% of respondents ate out at restaurants less, 43% postponed an important purchase to avoid using credit, and 42% spent less on recreational activities. Finally, almost two in five respondents (39%) said they lowered their basic expenses.

Are these good habits here to stay? "That's not an easy question to answer. We've been through a number of recessions in the past, but when it comes to bad news, people have a short-term memory. Will they continue to save? Who knows? I really hope they start to realize they're going to live longer and their retirement savings need to last longer, but only time will tell," says Michael Aziz, Regional Vice-President, Individual Savings Products at Desjardins Financial Security.

Retirees were hit hard by the recession

Lévis, December 9, 2009 – Canadian retirees who participated in Desjardins Financial Security's 2009 Rethink Retirement survey were three times more likely to see their income shrink this past year. This is in sharp opposition to the last Canadian Business 2009 Top 100 Richest Canadians list.

According to the Rethink Retirement survey, 35 per cent of retirees reported a drop in their personal income compared to 12 per cent who indicated an increase. By contrast, Canadian Business stated that the majority of Canada's wealthy became richer this year, reaching an average net worth of $1.7 billion.

However, only 6 per cent of the Rethink Retirement survey respondents enjoyed an income of $70,000 in 2009 compared to 44 per cent who managed an income of $30,000 or less. For many, this amount only covered basic living expenses.

Retirees also saw a drop in their savings and investments in 2009. Only 20 per cent recorded increases compared to 39 per cent whose savings dwindled in the past year.

But, unlike many Canadians, retirees carry the least amount of debt with only 46 per cent reporting debts of $1,000 or less. A quarter (27%) was able to reduce their financial obligations this year while 21 per cent went further into debt.

Retirees didn't increase their wealth this year

Percentage of retirees who reported:

a drop in:

an increase in:

Personal income

35%

12%

Savings and investments

39%

20%

Debt

27%

21%

About the Rethink Retirement™ survey
SOM conducted the eighth annual Rethink Retirement survey on behalf of Desjardins Financial Security in September 2009. A total of 1,524 questionnaires were completed by a representative sampling of Canadian workers and retirees who were randomly selected from Canadian internet panels. Data was weighted to reflect the distribution of the Canadian population in terms of the country's main regions (Atlantic Provinces, Quebec, Ontario, the Prairies and British Columbia), as well as by age, sex, and first language (mother tongue) based on Statistics Canada data.

About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest cooperative financial group in Canada, specializes in group and individual life and health insurance, and savings products and services. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. The Company, which employs 3,800 people and manages more than $21.9 billion in assets, has offices in a number of cities nation-wide, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Quebec City, Lévis, Halifax and St. John's.

What's life like for today's retirees?

Montreal, December 8, 2009 -- Despite all the emphasis that's been placed on retirement planning, there are very few studies that look at retirees today. However, these people are a wealth of information for future retirees, both from a financial and a social standpoint. Desjardins Financial Security's 2009 Rethink Retirement™ survey asked more than 400 retired Canadians about life in 2009.

Not always the golden age…

More than half of full-time retirees (55%) can afford to cover their basic needs plus a few extras, such as presents for their kids and grandkids, hobbies or travel. On the other hand, amongst the 27% of full-time retirees who say that they only manage to pay for basic expenses, we see that close to two-thirds (62%) earn less than $20,000 a year and more than 2 in five (44%) went further into debt in the past year.

Taking care of business

Many employers seem to be turning to retirees to fill positions left empty by the mass retirement of baby boomers. Close to one in six retirees (16%) continue to work. Some have gone back to work because they need money for personal projects (46%) and others because the economy has decimated their retirement income (29%). Young retirees, aged 55 to 64, are the most likely to continue working (25%), whereas only one in ten retirees over 65 works (11%).

Who did the recession hurt more: workers or retirees?

Montreal, December 3, 2009 -- Canadian workers and retirees experienced last year's recession very differently. According to the results of Desjardins Financial Security's 2009 Rethink Retirement™ survey, two in five retirees (40%) say their financial situation deteriorated in 2009, compared to three in ten workers (30%). Even more striking is the fact that more than one in four workers (26%) said that things improved, compared to one in ten retirees (8%).

What caused Canadian workers and retirees' financial situation to deteriorate? One in five respondents (20%) cited stock market losses and a higher cost of living respectively, but the explanations given by retirees and workers differ. First, retirees are more likely than workers to mention investment losses (28% vs. 16% respectively), increases in the cost of living with compared to a stable revenue (28% vs. 14%) and a decrease in revenue (19% vs. 8%). On the other hand, workers are more likely to blame job losses or a decrease in hours worked (23% vs. 3% for retirees), and the fact that a spouse works less or not at all (7% vs. 1% respectively) to explain the deterioration of their financial situation.

Close to one in two (46%) retirees whose financial situation has deteriorated in the last year states that they are just barely covering their expenses.

Despite the recession, one in five workers (20%) surveyed reported that their income went up (raise, overtime, better job), while more than one in four (26%) retirees could claim the same.

Is paying off debts the key to staying afloat?

When asked what the main reason was for the improvement in their financial situation, a significant number of workers aged 40 and over (26%) paid off their debts, while this number was 18% for all workers.

Do you want to find out more?

Visit the Rethink Retirement section in our newsroom or the Meet the Experts section for interviews with health and retirement experts.

2009 Third-Quarter Financial Results

Desjardins Financial Security posts net income of $150.9M and continues to make its mark on the Canadian market

Individual savings sales up 202.3% ($485.4 million)
44.9% increase in group retirement sales
Group insurance sales growth of 8.5%
Record level of insurance premium volume—$2 billion for the period
Net income of $150.9 million
Return on shareholder's equity of 26.3%

Lévis, November 30, 2009 – Desjardins Financial Security recorded a net income of $150.9 million for the period ending September 30, 2009, compared to $112 million for the same period in 2008. The Company, a subsidiary of Desjardins Group, specializing in life and health insurance and retirement savings, once again posted growth in insurance premium income which stood at a record level of $2.0 billion ($2,027.3 million) after only three quarters, an increase of $40.3 million (2.0%) compared to the same period in 2008. In Quebec, insurance premiums grew by $18.0 million (1.4%) while growth in the other provinces was higher at $22.3 million (3.4%).

Insurance sales totalled $159.9 million, up $12.2 million over the same period in 2008. Savings sales stood at $1,260.3 million, up $415.5 million compared to 2008. This growth is the result of strong sales of segregated funds and group retirement savings products.

The share of net income attributable to the shareholder, the Desjardins caisses, stood at $146.5 million, up $36.7 million. Return on shareholder’s equity was 26.3% and is one of the best in the financial services industry. Assets under management and administration stood at $21.9 billion.

Desjardins Financial Security remains very financially strong and has an excellent capitalization ratio.

Third-Quarter Results

For the period from July 1 to September 30, 2009, net income totalled $67.6 million compared to $16.4 million for the same period a year ago. Insurance sales stood at $43.6 million, up from $31.3 million in 2008. Gross insurance premiums were $682.4 million. Savings sales totalled $460.8 million, up $15.9 million compared to the second quarter of 2009.

Commenting on these results, Ms. Monique F. Leroux, President and CEO of Desjardins Group, also CEO of Desjardins Financial Security, was pleased to note the Company’s continued contribution to the overall performance of Canada’s largest cooperative financial group. “These results demonstrate Desjardins Financial Security’s ability to achieve an increasingly prominent position among the leading Canadian life and health insurance companies. As a result, the Company is contributing not only to Desjardins Group’s profitability but also to its development across the country.”

Desjardins Financial Security’s Chief Operating Officer, Mr. Richard Fortier, reminds us that this growth is the result of the Company’s commitment to its action plan and firm management style. “Our results show how effective we’ve been in working to achieve the objectives of our accelerated growth plan. The management approach we've adopted has also continued to pay off.”

Results by sector

In group insurance, gross premium volume from groups, businesses and plans offered through financial institutions, including the Desjardins caisses, stood at $1,650.5 million as of September 30, 2009, for an increase of $26.6 million over the same period a year earlier. Sales volume for group and business insurance was $126.7 million, up $9.9 million.

In individual insurance, total sales recorded by the financial security representatives assigned to the Desjardins caisses and by the Desjardins Financial Security Independent Network and SFL financial centre network stood at $33.2 million, compared to $30.9 million in 2008, an increase of 7.4%. Gross premiums were $376.8 million, $13.7 million higher than in 2008.

Sales of group retirement savings products totalled $309.4 million, up 44.9% compared to September 30, 2008, while individual savings sales were $725.4 million, a volume three times higher than that of 2008. Sales of guaranteed investment funds stood at a record level of $640.6 million, while mutual fund sales totalled $225.5 million, down 42.4% compared to September 30, 2008.

Desjardins Financial Security makes someone a lucky winner with its national contest

Levis, September 30, 2009 – Mr. John Crawley, from St. Catharines, Ontario, is the lucky winner of Desjardins Financial Security’s Six Times the Magic of Cirque du Soleil® contest, which drew 16,526 online entries across Canada.

Mr. Crawley will be in for an experience he won’t soon forget because he won a trip for two worth $6,500, including six pairs of tickets to see the six permanent Cirque du Soleil shows in Las Vegas and $2,000 in cash.

Desjardins Financial Security launched the contest on July 3, 2009 as part of the festivities marking Cirque du Soleil’s stop in Quebec City. The contest, which was advertized in the Desjardins shuttle bus for tourists that ran along the shore of the St. Lawrence from June 1 to September 7, was a huge success among visitors to Quebec.

About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial well-being. Desjardins Financial Security employs some 3,800 people and administers over $20.4 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.

In the photo: The winner of the Six Times the Magic of Cirque du Soleil contest, Mr. John Crawley, résident of St. Catharines, Ontario, with Mr. Daniel Roussel, Vice-President, Public Affairs and Communications, Desjardins Financial Security

Ready, set, aim with On Target Retirement!

Sixty-four percent of Canadian employers say their employees prefer not to think about retirement savings until they're much closer to retirement

Toronto, September 11, 2009 – Desjardins Financial Security is pleased to launch On Target Retirement, a personalized financial planning tool for members of its group retirement savings plans.

On Target Retirement is a simulator that combines online solutions with more traditional communication tools so that plan members can take stock of their finances and set their retirement goals using customized information based on their own personal situation. Members will now be able to determine whether or not they can achieve the target they have set for themselves and identify any changes that may need to be made to their investment strategy. On Target Retirement is part of the Setting Sail for the Future education program available on the secure site for members of Desjardins Financial Security group retirement savings plans.

According to the 2009 Health is Cool! survey, 71% of employers feel that their employees don't know enough about their group savings or retirement plan as they should. "On Target Retirement lets plan sponsors emphasize how important it is for members to have a sound retirement savings strategy. It also helps plan sponsors meet stringent governance requirements thanks to built-in reports, developed using best practices, that proactively monitor what plan members are doing in terms of their retirement goals," stated Éric Filion, Senior Director, Product Development and Marketing, Group Retirement Savings.

Effective immediately, On Target Retirement is available under all Desjardins Financial Security group retirement savings plans.

About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial well-being. Desjardins Financial Security employs some 3,800 people and administers over $20.4 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.

Desjardins Financial Security wins 12 prizes in the 2009 IFCA contest

Lévis, September 9, 2009 – Desjardins Financial Security (DFS) had a record year in terms of the number of awards it won in the 2009 Insurance & Financial Communicators Association (IFCA) contest. IFCA has approximately 700 members from more than 225 life and health insurance and financial services companies across Canada and the U.S. The Company earned no fewer than twelve distinctions, including two Best of Show awards, eight Awards of Excellence and two Honourable Mentions. This is the sixth consecutive year that IFCA has recognized the quality of DFS communications and advertising initiatives.

"As communicators, we face a number of challenges in our work. That's why it means so much to be recognized in such a positive way by our peers. We owe this recognition to our communications, marketing and advertising teams who go above and beyond to develop projects designed to promote the Desjardins brand and image across Canada year after year," said Daniel Roussel, Vice-President, Public Affairs and Communications.

The winning projects

Two Best of Show awards

Through the magic of fibre optics, DFS was able to bring together some 4,000 employees from three work sites (Toronto, Montréal and Québec) for its "Much higher! Much further!" employee meeting. This simulcast earned a Best of Show award in the "Special or Different Projects – Developed Internally" category.
The "Rethink Retirement" brochure, inspired by the results of the annual retirement survey of Canadians coast to coast, also won a Best of Show award in the "Internally Developed Communications – Print" category.

Eight Awards of Excellence

The "Meet the experts" advertorial series featuring interviews with various leading Canadian retirement and health experts, including David K. Foot, earned an Award of Excellence in the "Consumer Publication Advertising" category.
The Be Well site, which was developed in partnership with The Globe & Mail and covers a variety of Canadian health topics, stood out in the "Special or Different Projects – Electronic" category.
The "Buy Direct, Save Big" for the Desjardins travel insurance campaign earned an Award of Excellence in the "Internet Advertisements" category.
The "Your RRSP, your TFSA, your Projects" guide, which provides Canadians with basic savings information, was rewarded with an Award of Excellence in the "Prospect/Customer Promotion – Print" category.
The campaign to help recruit new SFL financial advisors earned an Award of Excellence in the "Recruiting Materials" category.
The "Are you one of those people who leaves their future to chance?" campaign designed to promote the services of financial security advisors assigned to Desjardins caisses during RRSP season received an Award of Excellence in the "Magazine Inserts" category.
The video prepared by AssurFinance for Individuals for the Desjardins Group partners' 2009 investment savings roadshow earned an Award of Excellence in the "General Interest Video" category.
The "Harmony" critical illness insurance brochure won an Award of Excellence in the "Sales Promotion – End Customer" category.

Two Honourable Mentions

The "Les petits plaisirs de la vie" life annuity series earned an Honourable Mention in the "Consumer Publication Advertising" category.
The "I know my clients well" campaign designed to promote the Desjardins Financial Security Independent Network (DFSIN) brand to English-speaking clients on the web received an Honourable Mention in the "Internet Advertisements" category.

About the IFCA contest
IFCA is dedicated to the ongoing professional development of its members. This association's annual contest covers twelve categories related mainly to advertising, public relations, corporate communications and sales promotion in the field of insurance and financial services.

About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs nearly 3,800 people and administers over $20.4 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.

Financial Assistance to Help Fight Against Cancer

Lévis, September 3, 2009 – Because of the ever-increasing number of cases of all types of cancer, the Canadian Cancer Society (CCS) and Desjardins Financial Security have joined forces to minimize the financial hardships of people suffering from cancer and their families. Desjardins Financial Security started by making a $25,000 donation to the CCS's Financial Assistance Program, and will continue to support the CCS by donating a portion of the annual premiums for every new GetWell Insurance contract issued over the next two years. GetWell Insurance is a brand new product that offers coverage against the financial consequences of cancer. The CCS will use these funds to offer financial assistance to people affected by this disease, based on certain eligibility criteria.

"Our partnership with Desjardins Financial Security will make it easier for us to support cancer patients so they can focus on getting better," says Jean Pierre Laurin, Assistant Executive Director of the Canadian Cancer Society, Quebec Division.

"In 2008, our material and financial assistance program paid out more than $900,000 in allowances and refunds for parking and transportation expenses, plus other essential supplies," indicates Mr. Laurin. The average five-year survival rate following a diagnosis is 62%. It is estimated that 171,000 Canadians (44,200 in Quebec) will be diagnosed with cancer in 2009, which will no doubt entail financial repercussions for many of them. "All too often during cancer treatment, income drops and expenses add up because of the costs related to care and services that are not covered. As a result, the CCS will see an increase in the number of requests for financial assistance," concludes Mr. Laurin.

One-of-a-kind insurance

After diagnosis, life goes on. Desjardins Financial Security's GetWell Insurance helps lighten the financial burden caused by cancer treatment. This insurance pays a tax-free, lump-sum benefit on the first diagnosis of cancer. Insureds are free to use this amount as they see fit, so they can focus their efforts on getting better or helping an insured family member recover. The insurance also includes convalescence and psychological assistance services to help get through this difficult period.

"We know that cancer strikes regardless of a person's age, gender or situation. We also know that the treatment-related expenses have an impact on those affected by cancer. In designing GetWell Insurance, we made sure that it is easy to buy, and offers broader eligibility criteria and very affordable premiums so that as many people as possible can protect themselves against the financial consequences of cancer," says François Morel, an AssurDirect advisor at Desjardins Financial Security.

To learn more about GetWell Insurance, go to: http://www.getwellinsurance.ca

Desjardins Financial Security reports net income of $83.3M and asserts its financial strength

2009 Second Quarter Financial Results

Individual savings sales up 178.7%
Group retirement savings sales up 161.1%
Insurance premium volume up 3.3%
Net income of $83.3M
Return on shareholder equity of 22.9%

Lévis, September 2, 2009 -- Despite the sustained impact of the worldwide financial crisis, Desjardins Financial Security maintained its profitability at the end of the first six months of 2009 with a net income of $83.3 million. The Desjardins Group subsidiary, specializing in life and health insurance and retirement savings, also reported continued growth in insurance premium income, which stood at $1,344.9 million for a 3.3% improvement over the first half of 2008. Quebec posted an increase of $14.1 million (1.6%) and the other provinces a significantly higher increase of $28.4 million for a 6.7% improvement. Insurance sales were $116.3 million and similar to those in the first half of 2008. Retirement savings sales were also up, standing at $799.5 million compared to $527.4 million in the same period a year earlier.

The share of the company’s net income attributable to the shareholder, the Desjardins caisses, stood at $82.1 million. Return on shareholder equity was 22.9%, one of the best in the financial services industry. Assets under management and administration totalled $20.4 billion.

Despite the financial and economic crises, and turmoil on the global financial markets, the company has maintained its financial strength and continues to benefit from excellent capitalization. Fundamental insurance operations also remain very profitable.

Second Quarter Financial Results

For the period of April 1 to June 30, 2009, net income totalled $52.8 million compared to $59.3 million in 2008. Insurance sales amounted to $51.2 million versus $57.5 million for the same period last year. Gross insurance premiums were $675.7 million, up $21.6 million over the second quarter of 2008, with Quebec recording a 1.5% increase and a 7.0% increase in the other provinces. Savings sales totalled $444.9 million, up $90.3 million over the first quarter of 2009. This increase is primarily due to major group retirement savings contracts signed in the second quarter.

Commenting on these results, Ms. Monique F. Leroux, President and Chief Executive Officer of Desjardins Group and also Chief Executive Officer of Desjardins Financial Security said, “Our life and health insurance subsidiary is recording good business growth and substantial profitability in economic conditions that remain challenging and call for prudence and vigilance. The company’s contribution to the overall performance of Desjardins Group remains significant.”

Mr. Richard Fortier, Chief Operating Officer of Desjardins Financial Security, expressed his pride in the Company’s efforts since the beginning of the year and the benefits they have generated. “All our efforts to maintain premium income and insurance sales growth are paying off. We continue to take the necessary steps to keep the Company financially healthy and remain confident in our ability to successfully deal with the consequences of the financial crisis.”

Sector by sector results

In group insurance, the volume of gross premiums from groups and businesses, and those associated with plans offered in financial institutions including the Desjardins caisses, stood at $1,095.7 million as at June 30, 2009, up $33.0 million over the same period last year. Sales, which totalled $94.3 million, were similar to those recorded at the same time in 2008.

In individual insurance, total sales recorded in the first half of 2009 by the financial security advisors assigned to the Desjardins caisses and by the network of SFL and Desjardins Financial Security Independent Network financial centres stood at $22.0 million, up slightly from June 30, 2008 ($20.5 million). Gross premiums totalled $249.2 million, for a 3.9% improvement over the same time last year.

In savings, overall sales stood at $799.5 million. Group retirement savings sales totalled $175.8 million, up 161.1% over the first half of 2008, while individual savings sales amounted to $465.6 million, more than double the figure from the same period last year. Guaranteed investment fund sales were $406.9 million compared to $98.3 million in the same period in 2008. Mutual fund sales totalled $158.1 million, down from June 30, 2008.

Employees, employers living different recession realities according to health survey

Toronto, July 16, 2009 – Canadian employees and employers have completely different perceptions and opinions about the effects of the current recession on their work and personal lives, according to the 2009 Desjardins Financial Security Health Survey. The purpose of this year's health survey, which took place earlier this spring, was to measure the effects of the recession on employees and employers across Canada.

Expected recession duration: employees are more pessimistic
One key difference between the two is their opinion of the recession duration. Employees are more pessimistic, saying that the recession will last 21 months (an average of 1.78 years). Employers on the other hand are more optimistic with 53.1 per cent saying that the recession will last one year or less (an average of 1.49 years).

"Actually, the worst part of the Canadian recession occurred in the first quarter of 2009. In January, people were talking about a potential world-wide depression when the country posted the biggest employment decline in since 1976," said Yves St-Maurice, Deputy Chief Economist with Desjardins Group. "However, the eye of the storm is now behind us and the Canadian economy will bottom out this fall when the recovery will begin. However, it won't be until the fall of 2010 when we'll see the start of a true expansion phase when production will return to pre-recession levels. The recession will then have lasted about one year."

Employees worried about losing their jobs
Employers were asked what further improvements they would consider, 19.3 per cent would increase sales, 9 per cent would provide job stability and 7 per cent would ensure the business' economic recovery. When asked the same question, employees' want job security, increased business and management support. In fact, 43 per cent of employees are worried about losing their jobs and many believe that employers are using the recession as an excuse to cut staff. Ironically, 70 per cent of employers are increasing their workforces. Also, 70 per cent of employers have improved benefits (a priority for only 5 per cent of employees), 64 per cent have communicated the business implications of the recession to staff and 29 per cent have supported employees who were dramatically impacted by the recession (a priority for only 5 per cent of employees).

Employers concerned about the recession's affect on employees' health
When asked whether the recession has negatively affected workers' work/life balance, both groups agreed. One quarter of employees and 37 per cent of employers also agreed that the recession has negatively affected employees' physical health. When asked if the recession has had an affect on staff's mental health, 35 per cent of employees and 63 per cent of employers said yes. Employees' stress levels was found to be another factor in their declining health, as 35 per cent said they are experiencing higher stress this year compared to last.

Work environment: opposite views
When it comes to the current work environment since the start of the recession, employees and employers have completely different perceptions. Close to a quarter of employees said that their environments have become more negative while 73 per cent of employers said that theirs have become more positive.

"What's evident in these results is that a clear and open dialogue is urgently needed between employers and their staff, but not just during difficult times," said Dr. Taylor Alexander, CEO of the Canadian Mental Health Association, National Office. "Of course, we believe that both groups are responsible for managing their own mental and physical health. But, employers must also help create a mentally-healthy workplace for their staff. Leadership on this issue starts at the top. For example, we encourage bosses to keep the lines of communication open with tools like employee surveys and bi-monthly staff meetings. These are inexpensive aids that will help keep employees engaged, empowered and supported."

About the 2009 Health Survey
SOM Surveys, Opinion Polls and Marketing conducted the survey on behalf of Desjardins Financial Security. The web-based employee survey was conducted between March 30 and April 15, 2009. In total, 1,062 interviews were completed with a sample of Canadian workers who work for a company or organization with at least 10 employees. The telephone-based employer survey was conducted between May 5 and May 22, 2009. In all, 381 interviews were tabulated with a sample of Canadian private companies or organizations with at least 10 employees and that offer group benefits (group insurance and/or group retirement or savings plans) to their employees. The data was weighted to reflect the distribution of the Canadian organizations with a staff of at least 10 in terms of the country’s main regions (Atlantic Provinces, Quebec, Ontario, the Prairies, and British Columbia), while taking into account the number of non-eligible respondents.

About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs 3,800 people and administers $19.7 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.

About the Canadian Mental Health Association
The Canadian Mental Health Association, National Office is a leading national voluntary organization within the mental health sector. For more than 90 years, it has existed to promote the mental health of all people in Canada and to serve mental health consumers, their families and friends through education, public awareness, research, advocacy and direct services. In addition to its National office, the CMHA has 11 provincial and territorial Divisions and some 135 Branches and Regions in communities across Canada. To find more information about mental health, visit www.cmha.ca.

Seven out of ten Canadians plan to travel for their summer vacations
Many will remain within Canada and even within their own province

Lévis, July 16, 2009 – The recession won't prevent Canadians from taking their vacations this summer. According to an Ipsos Descarie survey conducted on behalf of Desjardins Financial Security, 70% of Canadians plan to travel this summer. But all indications are that the difficult economic climate is encouraging them to stay closer to home, with 81% opting to travel in Canada for at least part of their vacations. A large number of Canadians (45%) will even remain within their province of residence.

Proportion of Canadian travellers who will choose a travel destination within their own province this summer for vacations

Province of residence

%

Travel destination for vacations

New Brunswick

49

Atlantic Canada

Nova Scotia

43

Prince Edward Island

39

Newfoundland and Labrador

15

Québec

68

Québec

Ontario

74

Ontario

Manitoba

22

Midwestern Canada

Saskatchewan

25

Alberta

50

British Columbia

81

British Columbia

Perhaps because of the new requirement to hold a passport to cross the border, only 29% of travellers plan to vacation in the United States this year.

Only 1 in 2 travellers in Canada has travel insurance while travelling throughout Canada
While they may not know exactly how much their provincial health insurance plans will pay, three-quarters of Canadians (76%) say they do know that health care expenses resulting from an accident or illness that occurs while travelling outside their province of residence are not fully reimbursed by their province’s health plan. In spite of this, the survey shows that half of Canadian travellers lack travel insurance at the present time. “The provincial health insurance plan reimburses only part of the cost of emergency care received in another Canadian province or in another country, up to a maximum amount, which varies from one province to another,” says François Morel, Travel Insurance Advisor, Desjardins Financial Security.

Important to check carefully travel insurance provided by group insurance or credit card
Many Canadians with travel insurance have it through their group insurance plans (71%) and 4 out of 10 have coverage through their credit cards. However, François Morel reminds us that it's better to be safe than sorry, “Even with travel insurance that’s part of a group insurance plan or credit card privileges, it’s important to check whether enough coverage is offered before going away. For example, coverage for lost baggage is not always included. In this case, the traveller could enjoy better protection by purchasing additional travel insurance.”

“To ensure a peaceful trip, whether you’re travelling abroad or just outside your province of residence, travel insurance always provides you with the coverage you need, for emergency health care as an example. It will help you avoid expensive health care bills that can cost thousands of dollars, while offering you the peace of mind you need to enjoy your vacation,” concludes François Morel.

About the survey
Ipsos Descarie conducted this web survey on behalf of Desjardins Financial Security between June 17 and June 21, 2009. In all, 1,051 questionnaires were completed by a representative sampling of Canadian residents who were randomly selected from the Ipsos Canadian internet panel. Data was weighted to reflect the distribution of the Canadian population in terms of the country’s main regions (Atlantic Provinces, Quebec, Ontario, the Prairies, and British Columbia), and by age and gender.

About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs 3,800 people and administers $19.5 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.

François Morel, Travel Insurance Advisor, Desjardins Financial Security

Desjardins Financial Security posts net income of $30.5M, maintaining solid financial footing

2009 First Quarter Financial Results

Individual savings sales up $127.5M
Insurance premium volume up 3.2%
10.5% increase in insurance sales
$30.5 million in net income
Return on shareholder equity of 17.5%

Lévis, May 27, 2009 – For the period ending March 31, 2009, Desjardins Financial Security, a Desjardins Group subsidiary specializing in life insurance, health insurance and retirement savings products and services, once again recorded growth in insurance premium income, which stood at $669.2 million, up 3.2 per cent as compared to the same period last year. Insurance sales totalled $65.1 million, up 10.5 per cent from March 31, 2008. Despite the ongoing worldwide financial crisis, Desjardins Financial Security has maintained its profitability with a net income of $30.5 million as compared to $36.3 million for the same period in 2008.

For the first quarter of 2009, the net income share attributable to the shareholder—the Desjardins caisses—totalled $30.3 million. Return on shareholder's equity was 17.5 per cent and assets under management and under administration totalled $19.5 billion.

Desjardins Financial Security's financial strength has not been affected by the continued economic crisis. The company still has an excellent capitalization ratio and the fundamental insurance operations also remain very profitable.

Ms. Monique F. Leroux, President and CEO of Desjardins Group, and also CEO of Desjardins Financial Security, acknowledged the Company's contribution to Desjardins Group. "Despite the effects of the financial crisis, our life and health insurance subsidiary achieved significant growth in terms of business volume and remains a financially sound and strong company. Desjardins Financial Security continues to contribute significantly to Desjardins Group's results."

Mr. Richard Fortier, Chief Operating Officer of Desjardins Financial Security, said that he was satisfied with the results, drawing attention to the growth achieved in the areas of insurance premiums and sales. "This growth clearly shows that our products and services stand out in the Canadian market and that they are meeting the needs and expectations of our clients. Given these results, we are confident that going forward we will continue to strengthen and grow our business across Canada."

Results by business segment

In group insurance, the volume of premiums generated by groups and businesses totalled $402.6 million as compared to $392.8 million during the last quarter of 2008. Group and business insurance sales grew by $5.2 million for a total of $54.3 million.

In individual insurance, sales grew by 10.2 per cent and stood at $10.8 million for the first quarter. Sales by Desjardins Financial Security's financial centre network rose by 6.0 per cent in Quebec and 4.1 per cent in the rest of Canada. Sales by financial security advisors assigned to Desjardins caisses stood at $4.7 million, up 16.5 per cent. Gross premium volume totalled $125.8 million, up $5.6 million over the same period in 2008 for the individual insurance segment.

In savings, aggregate sales were $354.6 million, representing a $41.7 million increase over the previous year. In individual savings, aggregate sales were $221.6 million, up $127.5 million since the first quarter of 2008. Group retirement savings sales were $44.4 million, down $11.0 million.

About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products and services to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs 3,800 people and administers $19.5 billion in assets from offices in several cities across the country including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.

SFL Partner of Desjardins Financial Security opens a new financial centre in Montréal's West Island

Serving Montréal's cultural mosaic!

Montréal, May 21, 2009 – SFL Partner of Desjardins Financial Security continues to expand in Quebec. We are pleased to announce the opening of the SFL St-Laurent West Island financial centre—the eighth financial centre in the Greater Montréal area and the fifteenth in Quebec.

This new financial centre, located at 110-555 boul. Dr-Frédérik-Philips, in Ville St-Laurent, is at the heart of Montréal's cultural communities, and will offer services geared specifically toward a multicultural client base through its financial advisors.

Martin Poirier isthe managing director of the SFL St-Laurent West Island financial centre. Mr. Poirier has more than 20 years of experience in the financial services industry. Over the past decade, he has held a variety of high-level positions. "My number one goal will be to develop relationships in this area, which is home to a wide range of cultural communities. Fourteen different cultural communities are currently represented on our team, which is composed of dynamic and attentive individuals, and this number will soon be rising to sixteen. Our plan is not only to offer these clients insurance and savings products adapted to their unique needs, but also to build close relationships with them and the local business people," said Mr. Poirier.

"This new centre fits in perfectly with Desjardins Financial Security’s strategy of strengthening its financial product and service distribution networks, not only in Quebec, but across Canada. More Quebecers and Canadians will now have better access to the products we are developing for them and to the expertise of advisors dedicated to ensuring the financial security of their clients and their loved ones," explained Alain Bédard, Senior Vice-President, Individual Insurance and Savings, Desjardins Financial Security.

The SFL St-Laurent West Island financial centre is part of a financial products and services distribution network with 55 service locations in Canada. The national network has some 1,100 associates, $6.3 billion in assets under management and over half a million clients. Through this network, clients have access to a wide range of innovative products and advisory services designed to meet all their financial security needs.

The new financial centre’s team of advisors can be reached at 514-748-0878.

About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs 3,800 people and administers $19.5 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.

Desjardins Financial Security opens new Vancouver-based Group Retirement Savings Sales office

Vancouver (May 20, 2009) – Desjardins Financial Security announces today the opening of a new Group Retirement Savings sales office in Vancouver. The new branch represents Desjardins' ongoing commitment to growing their business across Canada, particularly in the west.

Dorothy Chin, education advisor and sales support, will be the first to work from this new location. A full compliment of sales and support staff is expect to join Ms. Chin in the following months to provide a full range of financial products and services to clients and business partners.

The new office located at:
Desjardins Financial Security
Group Retirement Savings Division
401 West Georgia St., Suite 1010
Vancouver, BC V6B 5A1
Telephone: 604-658-2550 or toll free 1-877-251-5569
Fax: 604-251-5132

About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest financial cooperative group in Canada, specializes in providing life insurance, health insurance and retirement savings products and services to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. The company employs over 3,800 people and administers more than $19,6 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.

Recession-Stressed Workers Need Employers’ Support

New study shows increased anxiety in the workplace

Toronto (May 4, 2009) -- They’re stressed, anxious, worried about their jobs. They’re losing sleep and they’re losing confidence in the economy. Many Canadian employees are showing these and other signs of mental distress.

According to the first results of the Desjardins Financial Security National Health Survey released today for National Mental Health Week (May 4-10), during which Canadians are encouraged to "Invest in yourself", a significant number of workers in Canada feel they have lost control of their lives as the economic recession grinds on, unemployment numbers rise and financial security appears to be evaporating.

The study found that one-third of those surveyed say they are more stressed now than a year ago. About 30 per cent of employees across Canada are experiencing anxiety, losing sleep, and/or suffering from headaches, muscle aches and other physical tension—symptoms which often precede more serious problems.

Among their worries, three of the most stressful aspects of their lives are associated with their employment—money, workload and job security. The vast majority (83 per cent) agree that they pay more attention to their personal finances and spending habits now than prior to the recession.

Employees appear to be working longer hours as 54 per cent feel the current recession is having an impact on their work/life balance. As well, 43 per cent are now concerned about losing their jobs.

Another sign that employees may be increasingly worried is their belief that the recession will last much longer than most economists are predicting. The survey found that 34 per cent believe the recession will last less than one year, while 47 per cent believe it will go on longer than a year.

“Clearly, many employees have lost confidence and this is showing up in all kinds of ways that could lead to more serious mental health problems down the road,” said Dr. Taylor Alexander, CEO of the CMHA’s National office.

In response to this deteriorating situation, the Canadian Mental Health Association (CMHA) is calling on all employers, in both the public and private sectors, to broaden access to and funding for mental health programs in the workplace.

“We’re currently reaching tens of thousands of people across the country through our programs, which give employers and employees alike the tools to deal effectively with stress, anxiety and depression. But, we could do so much more,” said Dr. Alexander.

Michele Nowski, Director, Disability Claims and Disability Management with Desjardins Financial Security, noted that a stressed-out workplace translates into increased presenteeism and absenteeism. This equates to increased short term disability claims for both physical and mental health issues. Mental health claims are the fastest growing category for days lost to disability in Canada.

“By investing in their workers, companies are investing in themselves. A mentally healthy workplace typically has fewer disability claims, lower absenteeism and better productivity,” said Nowski. "It really becomes a partnership between employees and employers because employees also have a responsibility to manage their health and stress levels."

This means giving their employees the tools to gain more control over their lives—such as engaging them in open communications, working in teams to find solutions, being supportive of those who are not coping well, offering flex hours and promoting a healthy work/life balance.

To tackle the rising incidence of workplace stress, employees need to take responsibility as well. For example, they should be talking with their employers when they see potential problems arising, maintaining their health, and focusing on their accomplishments and goals. Or they could be proactively exploring other career paths and networking to identify new job prospects.

About the Survey
SOM Surveys, Opinion Polls and Marketing conducted this web survey on behalf of Desjardins Financial Security between March 30 and April 15, 2009. In total, 1,062 interviews were conducted with a sample of Canadian workers who work for a company or organization with at least 10 employees. The data was weighted to reflect the distribution of the Canadian population in terms of the country’s main regions (Atlantic Provinces, Quebec, Ontario, the Prairies, British-Columbia), and by the joint age-gender population distribution in Quebec, Ontario and elsewhere in Canada. The data was also weighted to reflect the population distribution in terms of mother tongue and the proportion of adults who live alone in each of these same three regions.

About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs 3,800 people and administers $19.7 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.

About the Canadian Mental Health Association
The Canadian Mental Health Association National Office is a leading national voluntary organization within the mental health sector. For more than 90 years, it has existed to promote the mental health of all people in Canada and to serve mental health consumers, their families and friends through education, public awareness, research, advocacy and direct services. In addition to its National office, the CMHA has 11 provincial and territorial Divisions and some 135 Branches and Regions in communities across Canada.

To find more information about mental health, visit www.cmha.ca. To view Desjardins Financial Security’s survey, visit www.healthiscool.ca.

Desjardins Financial Security Launches Foresight, Group Retirement Savings Solution, Selects Morningstar as Independent Provider of Research, Data, and Portfolio Construction

Toronto (April 30, 2009) -- Desjardins Financial Security today announced the launch of ForesightTM, a unique group retirement savings/investment solution that combines the flexible and tailored group retirement savings solutions of Desjardins Financial Security with Morningstar's independent expertise in investment research and analysis. Each fund in a Foresight portfolio is carefully researched, selected and monitored by Morningstar Research Inc., the Canadian subsidiary of Morningstar, Inc. This is the first program of its kind in Canada and is truly a turnkey solution for small- to medium-sized businesses.

“Foresight is ideal for retirement plan sponsors and their employee participants because it provides accurate research and information about their funds. In this market, this type of investor information is empowering and reassuring,” said Gil McGowan, regional vice president of group retirement sales and development for Desjardins Financial Security. “Foresight is also well-suited for small- to medium-sized businesses because it takes the thinking out of retirement plan management. Instead of concentrating on their employees' retirement portfolios, they're able to concentrate on their businesses."

Morningstar has performed extensive research and due diligence on each of the funds on the Foresight platform, and the portfolios have been carefully constructed to ensure diversification and appropriate risk management. In total, plan participants can choose from 12 funds, six lifecycle portfolios, and three retirement paths.

“We’re pleased that Desjardins Financial Security has selected Morningstar for our independent research and analysis,” said Scott Mackenzie, president and chief executive officer of Morningstar Research Inc. “Our goal is to help investors make informed decisions, and plan participants will have peace of mind knowing they have clear investment choices based on Morningstar’s research and portfolio construction.”

Another key advantage of the Foresight solution is that it meets with Capital Accumulation Plan (CAP) guidelines. Desjardins Financial Security will assume responsibility for the entire plan implementation process and employee support, which includes training, communications, information, transaction tools, statements and reports. Morningstar is responsible for ongoing monitoring of the Foresight portfolios as well as the individual funds in the portfolios.

For more information, please visit www.foresightsolution.com.

About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs 3,800 people and administers $19.7 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's. For more information, please visit http://www.desjardinsfinancialsecurity.ca.

About Morningstar
Morningstar Research Inc. is the Canadian subsidiary of Chicago-based Morningstar, Inc., a leading provider of independent investment research. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar provides data on more than 300,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. The company has operations in 19 countries and minority ownership positions in companies based in three other countries.

Desjardins Financial Security ("Desjardins") has retained Morningstar Research Inc. ("Morningstar"), a wholly owned subsidiary of Morningstar, Inc., to provide fund research, analytical, data compilation, and portfolio construction services for Desjardins' "Foresight Group Retirement Solution" program. Morningstar is providing consulting services only to Desjardins, and is not acting in the capacity as an advisor to investor clients of Desjardins.

Self-employed Canadians managing recession, but not managing risk

(Toronto) April 1, 2009 – Self-employed Canadians tend to have more debt and risk to manage than the average Canadian employee, but that is having limited effect on their stress and work levels during this recession, according to a survey conducted by Desjardins Financial Security.

Desjardins research indicates that self-employed Canadians are carrying more personal debt, excluding mortgages on their primary residence, than the average Canadian. Despite their heavier debt loads and the additional risk that it brings, a survey of self-employed Canadians, conducted the first week of March, found that self-employed Canadians remain split on the impact of the recession on their stress levels. Just more than half (56 per cent) feel their stress level is higher now compared to a year ago and fewer (44 per cent) feel it is harder to be competitive now compared to the start of the recession. However, 72 per cent of self-employed Canadians said they are not working significantly more hours since the start of the recession.

"It is encouraging that Canada’s self-employed are getting through the recession, however, the survey results also show that many are not doing enough to mitigate the risks particular to small businesses,” said Nathalie Tremblay, Health Products Manager, Individual Insurance, at Desjardins Financial Security. “People who start their own companies often tend to think like an employee with a benefits package, where most of the risk is covered by the company. When you run your own business, you are responsible for everything: your livelihood, employees, creditors, vendors and ultimately your family, so self-employed Canadians need to use different tools to protect their interests."

Risky Business

While 85 per cent of Canadians carry a debt load of $25K or less, just over half of self-employed workers claimed their debt was in this bottom category. At the top end of debt levels, only five per cent of Canadians at large have more than $50k of debt, compared to 21 per cent of self-employed Canadians who have more than $50k of debt.

According to the survey, the majority of self-employed Canadians said they own health insurance, like most Canadian employees. However, fifty-four per cent of respondents said they didn't have enough disability coverage and 80 per cent said they were not familiar with business expense insurance.

This spring, DFS launched a new suite of insurance products specially designed for self-employed Canadians. The Solo portfolio offers four customized products allowing almost all small business owners to ensure their businesses remain solvent in case of illness, accident or personal injury. Coverage includes disability income, business expense, living expenses and accident disability income.

"We found that a common misconception among small business owners is about the coverage in case of disability from the spousal group plan. In fact, it is the case for health care expenses not covered under the provincial health program but personal disability cannot be provided by the spousal group plan," said Tremblay. "Small business owners should consider a disability insurance coverage to replace their income in case of disability and business expense insurance to keep businesses solvent in case of unforeseen circumstances.” The new Solo suite provides both.

For more information about Desjardins Financial Security’s products for small business owners and self-employed Canadians, including disability insurance and business expense insurance, visit: www.dfs.ca/solo.

About the Survey
The Desjardins Financial Security Survey on Self-Employed – Small Business Owners: 2009 edition was conducted by Ipsos Reid Public Affairs on behalf of Desjardins Financial Security between March 3 and 9, 2009. In total, 1,010 interviews were conducted with a representative sample of Canadian adults that are self-employed or owners of a small business. The margin of error on a sample size of 1,010 respondents is ±3.1%,19 times out of 20, of what they would have been had the entire population been polled. Data for the Ipsos Reid Online Omnibus are collected through a random sampling of the 241,000+ member national Ipsos Reid online panel.

Both the survey invitation list and the returned data are weighted to reflect the composition of the general Canadian population. Data was also weighted to reflect the self-employed and the small business owners' population. The comparative data about average Canadian employees came from the 2008 DFS retirement and Health is Cool! Surveys.

About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs 3,800 people and administers $19.7 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.

Group RRSPs holding strong in the face of economic turmoil

Montréal, February 25, 2009 – The 2009 RRSP season is almost over and many group retirement savings plan members are getting ready to make their final contribution for the 2008 taxation year. Despite the hard economic times, Desjardins Financial Security's January 2009 RRSP campaign indicators show that Desjardins Financial Security plan members contributed slightly more to their RRSPs than a year earlier and that the anticipated rush toward safer investment vehicles, like guaranteed investment certificates (GICs), is not going to happen.

A panic averted

In spite of the significant number of lay-offs announced at the beginning of the year and the fact that many major employers were not able to pay bonuses to their employees for the first time in many years, the percentage of RRSP contributions as compared to total contributions, which was 36 per cent in January 2008, rose to 44 per cent in January 2009.

"Since the markets were performing so poorly at the end of 2008, we were expecting more calls in the first few months of 2009 from unhappy or disappointed clients, but this wasn't the case. Most of the people who contact us want to be reassured about their investment choices," said François M. Desjardins, a team lead in Desjardins Financial Security's Group Retirement Savings Customer Contact Centre. "This year, we're more educators than service providers to members. Our clients are more interested in knowing our take on the current situation."

Is a GIC in hand better than two funds in the bush?

In 2007, the percentage of deposits invested in Guaranteed Investment Certificates (GIC) divided by total deposits invested in RRSPs was 7.4 per cent. In 2008, it was 8 per cent. In January 2008, of the total deposits made, 8.1 per cent were invested in GICs, whereas in January 2009, it was 7.5 per cent.

"Even though 48 per cent of Canadians told us last fall in our 2008 Rethink Retirement survey that capital guarantees would now be a very important factor when they choose savings and investment products, the members I see every day have adopted a more rational approach," indicated Karrina Dusablon, Director, Education Centre and Global Management Group Retirement Savings. "They aren't necessarily ready to trade higher performance potential for a bit less risk. For many of them, retirement is still very far off and they're prepared to wait until economic conditions improve."

About Desjardins Financial Security
Desjardins Financial Security is a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, and specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial well-being. Desjardins Financial Security employs nearly 3,900 people and administers over $22 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.

Saving is the new black

Canadian women determined to make the most of what they have in 2009

Toronto, January 26, 2009 – As the current economic situation continues to take its toll on everyone's pocketbook, Canadian women have more incentive this year to take charge of their financial future. While the recent Rethink Retirement survey by Desjardins Financial Security reveals that half of Canadian women are considering postponing retirement by an average of six years due to market conditions, it also shows that women aren't simply accepting these setbacks. In fact, women are adopting a more take-charge, can-do attitude towards their finances while making the most of what they have.

Debunking the myths about women and money

While more men than women have traditionally been involved in financial matters, the picture is changing: 20 per cent of women admitted having little or no interest in preparing for retirement, compared to 27 per cent of men; 55 per cent said they hate being told that they are not saving enough for retirement, compared to 62 per cent of men; and only 31 per cent said they would rather not know how much they need to save, compared to 37 per cent of men.

"Women may be getting over what you could call the Sex and the City money mentality, where the main characters did not give much thought to saving for a rainy day," said Karrina Dusablon, Director, Education Centre and Global Management at Desjardins Financial Security. "Budgeting and putting money aside for retirement are hardly sexy plot themes, but many smart and successful women are becoming more financially-savvy, and that's good."

More action, less guilt

Thirty-six per cent of women admit to feeling guilty that they are not saving enough for retirement and 38 per cent believe they will never be able to accumulate enough retirement savings. These two results are likely contributing to why money is still the most often cited source of stress among men and women. However, many Canadian women have said they are prepared to make the following changes to save more for retirement:

84 per cent would postpone a major purchase to avoid relying on financing or credit;
79 per cent would take less expensive vacations;
69 per cent would bring lunch from home rather than eating at a restaurant;
66 per cent would significantly reduce the use of their car;
61 per cent would reduce spending on sports or cultural activities; and
56 per cent would consider getting rid of the household's second car.

The only compromise that six out of ten women seemed reluctant to make in the name of financial improvement was reducing spending on children's activities, compared to 68 per cent of men.

What next?

Budgeting seems to be on many women's minds with 28 per cent of respondents mentioning it as their number one financial priority in 2009, while 24 per cent said they would make it a priority five years from now. Paying off the mortgage and other debts were mentioned second as a priority this year among 14 per cent of respondents respectively. Almost 20 per cent of women said they would focus on saving for retirement and 12 per cent on paying off their mortgages five years from now.

"Every new year, women tend to make resolutions about improving their health and wellness,” said Ms. Dusablon. “We'd suggest that women pay special attention to their financial health by making one simple financial improvement in 2009. For example, always pay for food, including restaurant meals, in cash. Also, if you are already contributing the maximum amount to your RRSP, consider opening a Tax-Free Savings Account (TFSA) with what you have saved as the result of your cost-cutting measures. The best thing about financial fitness is that you get immediate gain with very little pain."

For more information on simple strategies to improve your financial well-being in 2009, please visit: rethinkretirement.ca.

About the Survey
SOM Surveys, Opinion Polls and Marketing conducted the survey on behalf of Desjardins Financial Security between June 26 and August 12, 2008. In total, 2,217 interviews were conducted with a representative sample of Canadian adults. The sampling plan provides proportional estimates with a maximum margin of error of plus or minus 2.4 per cent at a 95 per cent confidence level (19 times out of 20). The data was statistically weighted to accurately reflect the composition of Canadians by region, gender and age based on Statistics Canada's 2006 Census information.

SOM Surveys, Opinion Polls and Marketing conducted another survey on behalf of Desjardins Financial Security between October 21 and 23, 2008. In total, 1,150 interviews were conducted with a representative sample of Canadian adults. The sampling plan provides proportional estimates with a maximum margin of error of plus or minus 1.4 per cent at a 95 per cent confidence level (19 times out of 20). The data was statistically weighted to accurately reflect the composition of Canadians by region, gender and age based on Statistics Canada's 2006 Census information.