The Cooperative de notaires du Québec is governed by the Cooperatives Act C-67.2 and is commonly referred to as “the COOP de notaires du Québec” or “the COOP”. This was formed following discussions with Desjardins, which was looking for an alternative product for its mortgage refinancing. Desjardins was then in discussion with several stakeholders capable of producing its mortgage deeds at a fixed price, stable throughout the territory, from a homogeneous structure that could deliver in a relatively short time. At the end of a pilot project lasting several months, Desjardins selected the COOP that best corresponds to its mission and cooperative values.
Obviously, such a solution does not come from a single person. For more than three years, notaries and Desjardins have contributed their expertise and financial resources to develop an innovative solution that reflects the values of notaries.
This centralized strategy allows the COOP to produce at a lower cost, thus all interested Desjardins members benefit from it.
The notaries who are members of the COOP retain their true role of legal adviser, which enhances the value of the notarial profession while allowing notaries to reduce their costs.