What is the Caisse Populaire Acadienne?


Quick Answer

Caisses populaires acadiennes is a Canadian credit union that serves the Acadia region of New Brunswick; this banking institution serves a largely French-speaking population but also provides services in English. Founded in 1946, Caisses populaires acadiennes currently has assets totaling more than 3 billion Canadian dollars and a membership of more than 200,000, as reported by the Caisses popularies acadiennes website. The credit union was formed as part of a popular movement among Acadians and Francophone residents of New Brunswick in the early-mid 20th century.

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Full Answer

Part of the Caisses populaires acadiennes mission is to support and respect Acadian culture in New Brunswick, and as part of this effort, the bank is a longtime sponsor of the Acadian Games, according to the Mouvement des caisses Desjardins. The company's CEO is the former premier of the province of New Brunswick, Camille Theriault.

The early 20th-century Acadian and Francophone financial movements in New Brunswick that led to the founding of the Caisses populaires acadiennes was motivated in part by repercussions suffered among that population during the Great Depression. Acadians were already suffering a bad economic climate before the depression, and when banks stopped lending during that time, Acadians had few official channels to go through to get loans. People in the region began starting their own financial institutions in response to this poor economic climate.

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