Owner Representatives

Libro Credit Union values strong and democratic governance as a member-owned and purpose-based co-operative. Our award winning governance structure allows Owner voices to be heard through our Owner Representatives at a ratio of one Owner Representative per 1,000 Owners who serve on Regional Councils. This Owner Representative group delivers representative decision-making and are highly informed on governance, strategic and community based initiatives that support our local communities.

Owner Representatives are elected at large within each governance region, by the Owners domiciled in those branches. Owners may choose to seek election to any regional council. Nominations for Owner Representatives positions are accepted each year between September 1 and October 31. Elections by ballot, when required, are held during the last 10 business days of November.

Role of an Owner Representative

Libro needs Owner Representatives to be highly engaged and knowledgeable about Libro to act in the credit union’s and Owners’ best interests as a voting governance body. To fulfill that objective, in addition to learning about Libro’s strategy and business, participation in the community components of the role helps to better equip Owner Representatives for the governance elements of the role. This means that Owner Representatives serve a dual role and have governance, purpose and community responsibilities.

Governance responsibilities include:

• Owner Elected Representatives: Represent the interests of Libro Owners, through votes at Annual and Special General Meetings, without an obligation or expectation to meet with individual Owners.
• Succession Planning and Candidate Recruitment: Responsible for Owner Representative succession and recruitment, and Director recruitment.
• Libro’s Business Model: Understand the cooperative framework, business model and enterprise risk management framework under which Libro operates.
• Advisors on Key Strategic Topics: Provide opinion, suggestions and advice to the Board on the governance direction and policies of Libro.
• Effective Governors: Conduct regular assessment of Regional Council effectiveness.

Purpose and Community responsibilities include:

• Purpose Ambassadors: Educated and informed on Libro’s Purpose business model in order to share the Libro difference with others in the community.
• Advisors on Community Needs and Trends: Owner Representatives help Libro understand the key trends and activities in their local communities to identify where Libro can increase its impact. Owner Representatives are informed on the broad scope of programs Libro employs to impact its communities.
• Advisors on Key Strategic Topics: At a set cycle, Owner Representatives offer advice on Libro’s Corporate Pillars and on the Owner Representative Purpose and Community advisory role to ensure harmony between the role and Libro’s corporate goals.
• Community Connectors: Engage with communities through volunteer and other networking or event opportunities. Owner Representatives are Libro advocates and ambassadors.
• Community Champions: Regional Councils define specific regional priorities aligned with Libro’s corporate pillars to focus the annual granting program. Grant champions from within the Councils are responsible for reviewing and approving annual grants.

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