For Immediate Release
February 26, 2024
Libro Credit Union partners with LiftOff to Empower Black Entrepreneurs
SOUTHERN ONTARIO – Libro Credit Union is partnering with LiftOff, an initiative by the Caribbean Canadian Association of Waterloo Region (CCAWR) aimed at empowering the Black community in Canada.
Libro has committed $50,000 to support LiftOff’s Black Entrepreneurship Program (BEP), specifically in the creation of micro-grants for product development, and purchase of inventories, tools, and equipment.
“Bringing in partners, like Libro, validates the importance of supporting Black entrepreneurs and is poised to make a lasting impact on the Black communities in our region,” said Trevor Charles, Executive Director of LiftOff. “The LiftOff Black Entrepreneurship Program aligns seamlessly with Libro’s values of community building, financial literacy, and social responsibility, and I’m looking forward to seeing what more we can do together.”
“We recognize the importance of vibrant local economies and job opportunities, making the BEP a natural extension of Libro’s mission to build prosperity within the community,” said Scott Macleod, Regional Manager at Libro Credit Union. “At Libro, we believe that no one succeeds alone. We can build a thriving and more inclusive business community, together.”
The partnership aligns a shared commitment to promoting financial inclusion, community well-being, and environmental sustainability. Here’s a breakdown of how this program brings value to the community and why it’s an excellent fit with Libro Credit Union:
- Community Economic Empowerment:
The BEP directly contributes to the economic empowerment of the Black community by fostering entrepreneurship. Through training, mentorship, and financial support, the program equips Black entrepreneurs to establish and grow successful businesses. - Job Creation and Economic Growth:
By supporting Black entrepreneurs in establishing and expanding their businesses, the BEP contributes to job creation and overall economic growth within the community. So far, the BEP has supported over 100 founders, creating 60 permanent jobs and 18 temporary jobs. - Fostering Inclusive Business Practices:
The BEP places a strong emphasis on inclusivity within the entrepreneurial landscape. It actively promotes and supports Black-owned businesses, fostering an environment of diversity and inclusion. - Environmental Sustainability:
Headquartered at the SDG Idea Factory in Downtown Kitchener, environmental sustainability lies at the core of LiftOff’s activities. All entrepreneurs that come through the LiftOff program have their business activities mapped to the UN Sustainable Development Goals.
The LiftOff program aims to create a meaningful and sustainable impact on Black entrepreneurs, fostering economic growth, and contributing to the overall empowerment of the Black business community. LiftOff’s Black Entrepreneurship Program places a strong emphasis on inclusivity within the entrepreneurial landscape. It actively promotes and supports Black-owned businesses, fostering an environment of diversity and inclusion.
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About LiftOff:
Founded in 2021 by the Caribbean Canadian Association of Waterloo Region (CCAWR) with funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) via the Black Entrepreneurship Program (BEP) Ecosystem Fund. LiftOff swiftly gained momentum in fostering economic empowerment within the Black community. Over its brief operational tenure, LiftOff has directly aided over 120 Black businesses and indirectly impacted numerous others. This Black-led initiative has gained recognition for its commitment to fostering a supportive and dynamic environment for Black entrepreneurs, further solidifying its position as a transformative force within the entrepreneurial landscape. Learn more at https://www.liftoffbyccawr.com/.
Tori Atkinson, Digital Marketing Lead, LiftOff by CCAWR
tatkinson@liftoffbyccawr.org
About Libro Credit Union:
Libro Credit Union serves 113,000 Owners – the customers who all own a piece of the company, including 12,000 businesses. Libro has more than 800 employees, over 30 locations and a wide range of digital services, all supporting Owners as a full-service financial institution. Libro invests 100% of profits back into the people, businesses and communities it serves with a focus on four key areas: Financial Resilience, Employment, Local Food Accessibility and Housing.
Mike Donachie, Communications Manager, Libro Credit Union
226-926-4068, mike.donachie@libro.ca, libro.ca/media