DEFINITION of 'Caisse Populaire'
A cooperative, member-owned financial institution that fulfills traditional banking roles as well as diverse activities such as lending, insurance, investment dealing. Caisses Populaires are primarily found in the province of Quebec in Canada, as caisses populaires are essentially the francophone equivalent of a credit union.
BREAKING DOWN 'Caisse Populaire'
There are approximately one thousand caisses populaires in existence in Canada, the vast majority of which are located in Quebec. Some are as small as a single branch, and most caisses populaires seek deposits from individuals with commonalities, such as those from the same ethnic group or geographic community.