 | |
| Company type | Credit Union |
|---|---|
| Industry | Financial services |
| Founded | 1943 |
| Headquarters | 217 York Street London, Ontario N6A 5P9 |
Key people | Shawn Good president & CEO[1] Stephen Bolton former President & CEO |
| Revenue |  C$165.44 million (2022)[2] |
| C$37.5 million (2022)[2] | |
| AUM | C$7 billion (2022)[2] |
| Total assets | C$5.7 billion (2022)[2] |
Number of employees | 800[2] |
| Website | libro.ca |
Libro Credit Union, Libro, or Libro Credit Union Limited, is a credit union, headquartered in London, Ontario, Canada. Libro Credit Union is a member-owned and purpose-based cooperative with a democratic governance structure.[3]
As a full-service financial institution, Libro Credit Union offers financial coaching and banking services, including accounts, loans, mortgages, investments, credit cards and more for individuals, small businesses, commercial businesses, agri-businesses and farms.[4] Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA).[5]
Libro serves more than 113,000 member-Owners, including 12,000 business, through a network of digital services and more than 30 physical locations. Libro is part of a network of 4,000+ surcharge-free ATMs across Canada.
Libro makes positive economic, social and environmental impact as a certified B Corporation®, as an associate member of the Responsible Investment Association, and as a Living Wage employer to more than 800 employees.
Libro has been recognized as a business leader in learning, marketing, and business excellence among credit unions Canada-wide[6] and Chamber of Commerce organizations in southern Ontario. Libro is among the credit unions sharing an award for customer service excellence 19 years in a row through Ipsos Financial Service Excellence Awards.[7] In 2022, Libro was recognized with a gold rating in a new Corporate Knights report[8] that assesses the social purpose practices of Canadian companies.
In 2022, Libro celebrated these key accomplishments:
- Sharing $19.6 million with Owners through dividends and profit-sharing distributions
- Surpassing $7 billion in Assets Under Management, including $1.2 billion in wealth assets under management.
- Raising $96.8 million of capital through the Series 6 Investment Share offering so Libro can continue its growth with a strong capital base.
- Contributing $1.4 million in direct funding through partnerships with over 100 community organizations and student scholars.
Libro was founded in Since 1943, a total of 43 different credit unions, all with rich histories, have combined to make Libro what it is today. Some key dates in Libro’s history include the establishment or integration of the following credit unions:
- 1943 – Woodslee Credit Union
- 1951 – Dutch Catholic Immigrants (London) Credit Union – later St. Willibrord Community Credit Union in 1953
- 1951 – Clinton Community Credit Union
- 1954 – Gypsum Employees Credit Union (Caledonia)
- 2006 – United Communities Credit Union (merger between Woodslee Credit Union and Heartland Credit Union)
- 2006 – Libro Financial Group (name change from St. Willibrord)
- 2014 – Libro Credit Union (merger between United Communities Credit Union and Libro Financial Group)
- 2015 – Hald-Nor Credit Union joined Libro Credit Union