Libro Credit Union

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Libro Credit Union Limited
Credit Union
IndustryFinancial services
Founded1951
HeadquartersLondon, Ontario, Canada
Key people
Stephen Bolton
President & CEO[1]
Jack Smit
Former President & CEO
RevenueIncreaseC$96.659 million (FY 2017)[2]
IncreaseC$8.186 million (FY 2017)[2]
AUMIncreaseC$4.401 billion (FY 2017)[2]
Total assetsIncreaseC$3.619 billion (FY 2017)[2]
Number of employees
700[2]
Websitelibro.ca

Libro Credit Union, Libro, or Libro Credit Union Limited, is a credit union based in London, Ontario. Libro is owned by its owners (i.e., customers), who direct the institution's decisions.[3] Libro offers many financial services, including chequing and savings accounts, loans, mortgages, investments, financial coaching and advice for consumers and farm and business owners.[4] Deposits are insured by the Deposit Insurance Corporation of Ontario (DICO).[5]

Libro was founded in 1951 as the Dutch Catholic immigrants in the Diocese of London. In 1953 the name was changed to St. Willibrord Community Credit Union and to Libro Financial Group in 2006. The credit union has grown and expanded across Southwestern Ontario through mergers with other credit unions in London, Blenheim, Kitchener-Waterloo, St. Thomas and Wingham.[6]

Libro has over 103,000 members and $4.2 billion in assets under administration.{December 2017} There are 660 employees at 31 branches across southwestern Ontario and at the administration office in London, Ontario. Jack Smit was president and CEO from 1988 to 2012. He was also the chair of the Central 1 board of directors. Jack announced in August 2011 that he would retire on January 31, 2012. Stephen Bolton accepted the position of president and CEO, head coach on February 1, 2012.[7]

In 2007, Libro was awarded "Business of the Year" by the London Chamber of Commerce.[8] In 2010 Libro was awarded the "Quality Award" by the London Chamber of Commerce. Libro is the "bank" in the I Luv London edition of Monopoly.[9]

On June 4, 2010 Libro launched Young & Free Ontario [10] with United Communities Credit Union.

On June 2013 Libro and United Communities Credit Union announced their intent to combine operations. On January 1, 2014 the two credit unions amalgamated. In 2015 Hald-Nor Credit Union joined Libro with four branches in Haldimand and Norfolk counties.

References[edit]

  1. ^ "Libro Financial Group Announces New President and Chief Executive Officer". libro.ca. Archived from the original on 2012-12-17. Retrieved December 20, 2011.
  2. ^ a b c d e (PDF) https://www.libro.ca/application/files/2915/2364/3783/Libro_Credit_Union_2017_Financial_Statements.pdf. Missing or empty |title= (help)
  3. ^ http://www.libro.ca"
  4. ^ "http://www.libro.ca"
  5. ^ "http://www.dico.com/design/index.html"
  6. ^ "Kearney, Matt; Rosenkrantz, Otte (2000), St. Willibrord Community Credit Union: The first 50 years. Aylmer, Ontario: The Aylmer Express Limited. ISBN 0-9687045-0-6."
  7. ^ "https://www.libro.ca/Community/Media/Downloads/LibroMediaBackground.pdf[permanent dead link]"
  8. ^ ""Archived copy". Archived from the original on 2010-03-15. Retrieved 2010-03-16."
  9. ^ ""Archived copy". Archived from the original on 2010-04-14. Retrieved 2009-12-04."
  10. ^ "http://www.youngfreeontario.com/ Archived 2010-06-07 at the Wayback Machine."

External links[edit]