“With a booklet, it’s easier, you see right away where you are in your finances,” says Pierrette Goyette, met Wednesday a few steps from a branch of Desjardins, in Montreal. Like thousands of other people, the 91-year-old lady will have to change her habits next fall, when the financial institution’s cashbooks disappear.
Some have never known bank books. Others have used them all their lives. And for the latter, the announcement on Wednesday of the imminent end of Desjardins Group cashbooks – after 120 years of existence – is a blow.
The deadline has been set for November 19. From that moment, people who were still using the bank book will no longer be able to do so, confirmed the spokesperson for the financial institution, Jean-Benoît Turcotti.
The decision was made after the supplier of the booklets informed Desjardins Group that it would cease production. There was a choice to be made. “We had to either find a new supplier or stop [l’utilisation] booklets, explains Mr. Turcotti on the phone. Faced with the decreasing number of people who used them, it was decided to put an end to it. »
Already, since 2021, it was no longer possible to obtain a bankbook when opening a new account with Desjardins.
About 6% of Desjardins Group customers still use passbooks, which represents about 300,000 members, according to Mr. Turcotti. These people are on average over 70 years old.
We went to meet them on Wednesday afternoon, in two branches in the metropolis.
“I would like it to continue”
On the eve of 1er June, it was time to pay his bills. Or simply to check their account balance. One thing is certain, people come and go to the Caisse Desjardins du Cœur-de-l’Île, located at the corner of rue Bélanger and avenue Christophe-Colomb, in Montreal.
PHOTO MARCO CAMPANOZZI, THE PRESS
Gilles Poulin, a former journalist from The Press who covered horse racing, is still attached to his cash book, he said Wednesday.
“I’m comfortable with the bank book, because I’m useless with everything related to parallel solutions”, confides Gilles Poulin, met on site. This 78-year-old man was unaware that his booklet would no longer be usable next fall.
A little further on, a septuagenarian uses the ATM. Every day, she comes to update her cash book, she says. It’s his way of keeping track of his finances. “I’m a bit of a spendthrift,” says the lady. I wish it would continue [le livret de caisse]. Because the account statement is just once a month. »
Another client of the Caisse du Cœur-de-l’Île is indignant at the decision of the Mouvement Desjardins. “These are penny-pinching savings! “, she denounces before leaving the premises.
At the Caisse Populaire in Hochelaga-Maisonneuve, rue Ontario, Pierrette Goyette is already trying to imagine her life without her cash book. According to her, there are too many papers in the account statements. Difficult to navigate, says the nonagenarian.
Desjardins promises support
“It’s a lack of sensitivity towards our senior citizens. It is a clientele that has been there for a very long time, which is very loyal, ”denounces Pierre Lynch, president of the Quebec Association for the Defense of the Rights of Retired and Pre-Retired Persons (AQDR).
According to Lynch, people who still use their passbooks are vulnerable. “They put all their money in the Caisses Populaires. For them, the issue of the booklet is like security, knowing that their money is there. »
Desjardins spokesperson, Mr. Turcotti, affirms that the Movement is aware that this decision will lead to “changes in habits”.
Letters will be sent to affected customers in the coming weeks, he said. For members who need more support, help in the Caisses populaires will be offered.
“Our Caisse employees will be able to explain to customers [leurs options], says Mr. Turcotti. They will be able to have their support at ATMs. »
PHOTO MARCO CAMPANOZZI, THE PRESS
Help will be offered in the branches to support users, assures Desjardins.
Receipts printed at ATMs will continue to provide account balances and latest transactions, for example, he adds.
Customers will also be able to receive their paper transaction statements by mail on a monthly basis. Moreover, one-third of passbook users already use Desjardins’ AccèsD online services, reports Mr. Turcotti.
“In all the technological changes putting an end to documents in paper version, companies must respect the rhythm of their customers”, reacted by email the network of organizations for seniors FADOQ.
According to Mr. Lynch, Desjardins must make sure to properly support the members affected by this decision: “They have to find a way to reassure them, and inform them of the specific reason why [ils mettent fin aux livrets]. »
And in other banks?
Royal Bank of Canada stopped using passbooks several years ago, opting for “greener digital options,” regional communications manager Jessica Assaf said in an email. At Scotiabank, the passbooks disappeared in March 2021, confirmed the director of communications, Mathieu Beaudoin. The booklets are still available at the Bank of Montreal, according to Marie-Catherine Noël, director of communications. The other banks contacted by The Press were unable to provide the information on Wednesday.
120 years of history
For decades, Quebecers tracked their savings in Desjardins passbooks. Produced for 120 years, passbooks have evolved with the financial institution. Here is a review of their history.
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PHOTO PROVIDED BY DESJARDINS GROUP
1910 = The Desjardins cash book existed even before the First World War. The very first credit union was founded in Lévis in 1906 by Alphonse Desjardins. Dates, payments, withdrawals, balances: the information contained in the cashbooks has changed only slightly over time. At the beginning of the XXe century, it was written by hand.
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PHOTO PROVIDED BY DESJARDINS GROUP
1910 = The Desjardins cash book existed even before the First World War. The very first credit union was founded in Lévis in 1906 by Alphonse Desjardins. Dates, payments, withdrawals, balances: the information contained in the cashbooks has changed only slightly over time. At the beginning of the XXe century, it was written by hand.
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PHOTO PROVIDED BY DESJARDINS GROUP
1920 = This notebook from 1928 is similar to the one dating from 1911. The name of the person to whom it belongs is still written on the cover.
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PHOTO PROVIDED BY DESJARDINS GROUP
1930 = The form seems to change little during the following decade.
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PHOTO PROVIDED BY DESJARDINS GROUP
1950 = In the 1950s, the booklet is still called “member’s booklet”. Some booklets come with an envelope in which it can be slipped, to protect it. Others have a hard cover.
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PHOTO PROVIDED BY DESJARDINS GROUP
1950 = In the 1950s, the booklet is still called “member’s booklet”. Some booklets come with an envelope in which it can be slipped, to protect it. Others have a hard cover.
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PHOTO PROVIDED BY DESJARDINS GROUP
1950 = In the 1950s, the booklet is still called “member’s booklet”. Some booklets come with an envelope in which it can be slipped, to protect it. Others have a hard cover.
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PHOTO PROVIDED BY DESJARDINS GROUP
1960 = Booklets are still not uniform until the 1960s. It is in this decade that the horizontal format appears, rather than vertical.
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PHOTO PROVIDED BY DESJARDINS GROUP
1960 = Booklets are still not uniform until the 1960s. It is in this decade that the horizontal format appears, rather than vertical.
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PHOTO PROVIDED BY DESJARDINS GROUP
1960 = Booklets are still not uniform until the 1960s. It is in this decade that the horizontal format appears, rather than vertical.
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PHOTO PROVIDED BY DESJARDINS GROUP
In the 1980s, the booklets became standardized and became more colorful. In 1982, Desjardins tested its first ATM in Trois-Rivières.
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PHOTO PROVIDED BY DESJARDINS GROUP
In the 1990s, green and white, colors associated with the financial institution until today, appeared.
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1910
The Desjardins cash book existed even before the First World War. The very first credit union was founded in Lévis in 1906 by Alphonse Desjardins. Dates, payments, withdrawals, balances: the information contained in the cashbooks has changed only slightly over time. At the beginning of the XXe century, it was written by hand.
1920
This notebook from 1928 is similar to the one dating from 1911. The name of the person to whom it belongs is still written on the cover.
1930
The form seems to change little during the following decade.
1950
In the 1950s, the booklet was still called the “member’s booklet”. Some booklets come with an envelope in which it can be slipped, to protect it. Others have a hard cover.
1960
The booklets are still not uniform until the 1960s. It is in this decade that the horizontal format appears, rather than vertical.
1980
The booklets are standardized and become more colorful. In 1982, Desjardins tested its first ATM in Trois-Rivières.
1990
Green and white, colors associated with the financial institution until today, appear.