THE CAISSE SCOLAIRE FOLIO: 65 YEARS OF EDUCATING YOUTH ABOUT SAVING

May 11, 2007
Caraquet, NB - Thousands of New Brunswick youth, mostly Francophone, have been introduced to the concept of saving money thanks to the Caisses populaires acadiennes Caisse scolaire. The Caisse scolaire Folio along with the Caisses, parents and schools, is celebrating 65 years dedicated to educating young people about their savings. And the program is still going strong as the Caisse scolaire continues its important work.

The Caisse scolaire Folio exists in nearly 80 primary schools in New Brunswick, and as of May 31, 2007, there were 16,000 young members and cumulative assets at more than $1.1 M. Supported by the 33 Caisses, the Caisse scolaire Folio embodies and demonstrates the same cooperative values that define the Caisses populaires acadiennes.

It was Mr. Alphonse Desjardins that created the institution in 1907 in Quebec, but in Acadia, the credit goes to a very determined and visionary woman. It was Ms. Freda Gallant who, in 1942, implemented the Caisse scolaire in the Saint-Anselme region in south-eastern New Brunswick, near Dieppe. Ms. Gallant was born on December 30, 1906, in Bath, Maine. A teacher by training, she taught in Cap-Pelé, Pré-d'en-Haut, Dorchester, Dover and Moncton.

In the winter of 1940-41, Ms. Gallant organized study circles in Fox Creek, near Dieppe, and held them in her own kitchen. At the time, the community was talking about creating a Caisse populaire branch in Saint-Anselme - a Caisse that was eventually created the following summer, in 1941. Then, in 1942, when she discovered the interest that young people had in the Caisse populaire, Ms. Gallant created and ran a youth savings plan called the Caisse scolaire.

The Caisse scolaire is one of the important results of the Saint-Anselme cooperative movement. Ms. Gallant passed away on April 9, 1993, at the age of 86. Mr. Camille Theriault, Mouvement CEO described her contribution as follows. "Through her initiative and her generosity, Ms. Gallant had a great impact on the Acadian cooperative movement. Her work was very important and greatly appreciated. Today, the Caisse scolaire is still alive and well. It is, now more than ever, an essential tool."

Today, each of the Caisse employees responsible for the Caisse scolaire Folio continue the remarkable work that this woman started over 65 years ago. We would like to take this opportunity in particular to thank the Caisses for their interest and dedication to the Caisse scolaire Folio, thus contributing to the development of solid financial management skills for our youth.

About the Mouvement:
The Mouvement des caisses populaires acadiennes was founded in 1946. It is the largest Acadian financial institution in New Brunswick. With its 200,000 members and global assets at more than $2.4 billion, this network consists of 34 Caisses and 86 service points in the province. More than 1,000 employees and 350 elected representatives constitute the strength of the organization. The Caisses populaires acadiennes was selected as one of the 2006 Top 10 best employers in the Maritimes by Mediacorp Canada Inc. The Fédération des caisses populaires acadiennes is located in Caraquet, New Brunswick. For further details, go to our Web site at http://www.acadie.com

For all additional information:
Mario Griffin
Communications and Public Relations Manager
Fédération des caisses populaires acadiennes
Telephone: (506) 726-4785
Cell.: (506) 724-0078
Fax: (506) 726-8220
mario.griffin@acadie.com