Credit unions provide many of the same types of financial products and services as local big banks. Differences are most notable, but not limited to, areas like profit sharing and governance:

• Profit Sharing: As large, for-profit entities, banks operate for the purpose of making a profit that is distributed to the shareholders of the bank. In contrast, credit unions reinvest profits back into the people, businesses, and local communities.
• Governance: A credit union has a board of directors made up of volunteers who have been voted in democratically, with each credit union member getting one vote regardless of how much they have invested. This means real Libro members make up our board. In contrast, a bank’s board members are appointed and paid by shareholders.

Credit unions are financial cooperatives that are locally owned by their account holders — at Libro, our customers are known as members.

Financial coaching is one important way Libro is different from banks. Every member at Libro has access to Coaches — financial  experts —  who care about you and your success.

Your Coach gets to know you and your situation and always offers personalized financial advice to help you reach your goals.

Libro Credit Union offers personal and business banking services across Ontario, including chequing accounts, high-interest savings accounts, mortgages, loans, credit cards, investing solutions, online banking, mobile banking, and financial advice. As a member-owned Ontario credit union, Libro helps individuals, families, farmers, and businesses achieve financial well-being while supporting local communities through reinvestment and community growth initiatives.

Libro is proud to be a certified B Corporation®, joining leaders of a global movement of people using business as a force for good™.

B Corporations (or B Corps) are important because they inspire all businesses to compete not only to be the best in the world, but also to be the Best for the World®.