Even though Zag Bank will be closing,
your deposits are 100% safe
Please be advised that after a change in strategy, our parent company Desjardins Group, has decided to wind-down the operations of Zag Bank by June 2019.
Your deposits are 100% safe
Desjardins Group will continue to fully support Zag Bank through the wind-down and will ensure that all deposits are covered.
We will continue to open and support auto loans for the Desjardins Agent Network.
What does this mean for you?
During the wind-down of our operations, our first priority is ensuring a smooth transition for our deposit clients. Auto-loan only clients are not affected by this wind-down. Here are the things you need to know:
- Effective November 5, 2018, we will no longer be accepting any new deposits
- Each Zag Bank client was sent an email on Monday, November 5, 2018 to advise them of the Bank’s wind-down and provide next steps. Please review this email and if you have any questions, contact us or review these Frequently Asked Questions. We are here to help.
All of us here at Zag Bank want to thank you for being a Zag Bank client. It has been a great pleasure to serve you. We have truly appreciated your business and we wish you all the best.
Zag Bank Team