For immediate use
April 20, 2024
Libro Credit Union: Focused for Financial Well-Being
Libro Credit Union has shared its annual results with the theme Focused for Financial Well-Being, illustrating another year of success while emphasizing its ongoing commitment to communities.
During its Annual General Meeting held on Saturday, April 20, 2024, the credit union welcomed Owner Representatives to hear about another successful year. Despite difficult financial conditions, Libro reported $17.6 million in net income before taxes and profit-sharing, and is celebrating the largest influx of new customers in any year in its history – a total of 8,081 new Owners.
All customers of Libro hold shares, making them shareholders who elect Owner Representatives to represent them at the AGM. Functioning as a certified B Corp© and guided by a social purpose, Libro Credit Union makes decisions with a view to their community impact, particularly focusing on financial resilience, housing, local food accessibility, and employment.
Key highlights for this year include:
- A total of 117,128 Libro Owners, with more than 8,000 people joining the credit union in 2024 – the most in our history.
- 3.5% growth in the credit union’s total portfolio to $12.04 billion.
- A total community investment exceeding $1.3 million through grants, sponsorships, donations, and scholarships.
- A net income of $17.6 million for Libro, prior to taxes and profit-sharing.
Shawn Good, CEO of Libro Credit Union, commented, “We’re sending a warm welcome to the 8,000 people who joined Libro last year, knowing that credit unions are the values-based alternative to banks.
“These results underscore our commitment to our purpose, ensuring a positive impact on the communities we serve, even in these times of challenge in the financial sector and beyond. Thank you to each and every Libro Owner for your trust, and to our dedicated staff for their unwavering commitment to making a difference for people every day.”
Media contact: Mike Donachie, Communications Manager, Libro Credit Union
C: 226-926-4068, mike.donachie@libro.ca
Visit libro.ca/media.