Montréal, February 26, 2013 – The Fonds de solidarité FTQ (“Fonds”) has welcomed its 600,000th shareholder, setting a new record for the Québec institution, which is celebrating its 30th anniversary this year.
The 600,000th shareholder, Michelle d’Errico of Montréal-Nord, was greeted at the Fonds’ offices by Fonds chairman and FTQ president Michel Arsenault, Fonds president and CEO Yvon Bolduc, and Denis Leclerc, executive vice-president of Shareholder Services. Ms. d’Errico contributes to her Fonds RRSP through systematic savings.
“Thirty years, 600,000 owner-shareholders and $8.8 billion in net assets: Louis Laberge would be proud to see what the Fonds has become. He would be especially proud to know that the Fonds de solidarité FTQ has helped give a job to half a million Quebecers,” said Mr. Arsenault.
“Since its first investment in 1984 in Scierie des Outardes of Baie-Commeau, the Fonds de solidarité FTQ has become an important tool for creating and maintaining jobs in Québec,” added Mr. Bolduc. “With over 2,200 partner companies today, the Fonds continues to back business owners all across Québec thanks to the 600,000 Quebecers who entrust us with their savings.”
“Nearly one out of seven Québec workers relies on his Fonds RRSP for additional income at retirement,” continued Mr. Leclerc. “After the first enrolment campaign in March 1984, when 600 shareholders contributed a total of $600,000, the Fonds set up a network of local representatives to promote the Fonds. This network has enabled the Fonds to become what it is today.”
“Due to the vision and the audacity of union leaders and sympathisers back in 1983, 600,000 Quebecers are today better prepared for their retirement. Amongst them, 200,000 made their first RRSP contribution through the Fonds, a way by which their financial concerns about their retirement are somewhat alleviated. Unions have a role to play in this collective well being,” concluded Mr. Arsenault.
About the Fonds de solidarité FTQ
Created in 1983, the Fonds de solidarité FTQ has been driving our economy for 30 years. With net assets of $8.8 billion as of November 30, 2012, the Fonds is a development capital investment fund that channels the savings of Quebecers into investments in all sectors of the economy to help further Québec's economic growth. Its investments contribute to the creation and maintenance of jobs in Quebec businesses and favour economic development. The Fonds is a partner, either directly or through its network members, of more than 2,000 companies. With close to 600,000 owner-shareholders, it has helped to create, maintain and close to 170,000 jobs. For more information, visit www.FondsFTQ.com.
From right to left: Denis Leclerc, executive vice-president for shareholder services of the Fonds, Yvon Bolduc, president and CEO of the Fonds, Michelle d'Errico of Montréal-Nord, the Fonds's 600 000 shareholder, and Michel Arsenault, chairman of the board of the Fonds and president of the FTQ
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Patrick McQuilken
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