Libro Credit Union, Libro, or Libro Credit Union Limited, is a

credit union A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including deposit accounts, provisi ...

based in

London London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...

Ontario Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central C ...

, Canada. Libro is owned by its customers, who direct the institution's decisions. Libro offers many financial services, including chequing and savings accounts, loans, mortgages, investments, financial coaching and advice for consumers and farm and business owners. Deposits are insured by the

Financial Services Regulatory Authority of Ontario The Financial Services Regulatory Authority of Ontario (FSRA; french: Autorité ontarienne de réglementation des services financiers) is a self-funding Crown agency which acts as the financial regulator for the province of Ontario, Canada. Est ...

(FSRA). Libro was founded in 1951 by the Dutch Catholic immigrants in the Diocese of London, who sponsored Theodore J. Smeenk to immigrate to London and seconded him to establish it. 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

, Blenheim, Kitchener-Waterloo, St. Thomas and Wingham. Libro has over 103,000 members and $4.2 billion in assets under administration. 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. In 2007, Libro was awarded "Business of the Year" by the London Chamber of Commerce. 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. On June 4, 2010, Libro launched Young & Free Ontario with United Communities Credit Union. In June 2013 Libro and United Communities Credit Union announced their intent to combine operations. On January 1, 2014, the two credit unions amalgamated. On January 1, the Kellogg Employee Credit Union announced that it would join Libro as of March 31, following the closure of the Kellogg cereal plant in London. In 2015 Hald-Nor Credit Union joined Libro with four branches in Haldimand and

Norfolk Norfolk () is a ceremonial and non-metropolitan county in East Anglia in England. It borders Lincolnshire to the north-west, Cambridgeshire to the west and south-west, and Suffolk to the south. Its northern and eastern boundaries are the No ...

counties.

References

External links

Libro Credit Union
Companies based in London, Ontario Banks established in 1951 Canadian companies established in 1951 Credit unions of Ontario 1951 establishments in Ontario {{Bank-stub