September 10, 2025
Ontario Credit Unions Merger Application with Regulator
Ontario – The Boards of both Kawartha Credit Union and Libro Credit Union have approved a comprehensive Application for the two credit unions to merge. With Board approval, the Application has been submitted to the Financial Services Regulatory Authority (FSRA), for review and approval.
“Both Boards fully support moving forward with the merger, based on the many benefits, advantages, and strengths the merger will bring to Members/Owners, employees, the merged credit union, and to communities,” says Kawartha Board Chair Allison Chenier.
With this milestone achieved, the credit unions are one step closer to coming together. Once regulatory approval is received, Members/Owners from both credit unions will participate in a democratic voting process, likely in October or November.
“We’re excited for the possibility of coming together and continuing to help our Members/Owners achieve their financial goals, and at the same time have the ability and size to be better prepared for the future,” says Libro Board Chair Garrett Vanderwyst.
If approved, the merged credit union would have approximately $11 billion in total assets under management, serving over 180,000 Members/Owners, across 57 locations in Ontario, offering a full range of personal and business banking, wealth management and insurance solutions.
More Information
To learn more, visit the merger information website: goforwardtogether.ca
About Kawartha Credit Union
Headquartered in Peterborough, Ontario, Kawartha Credit Union’s purpose is to improve the financial success and well-being of our Members and the communities we serve. We provide values-based expert advice, a full range of competitive and easy-to-understand financial solutions, convenient service channels (including a network of 23 branches, and online and mobile banking), and access to thousands of surcharge-free ATMs across Canada and the U.S. Our 58,000 Members consistently rate us extremely high for overall service, knowledgeable staff, and for the caring and respectful way we help our Members achieve financial success. Kawartha Credit Union is open to anyone looking for a financial services provider they can trust. We call it “banking in your best interest” and we invite you to experience our difference.
About Libro Credit Union
At Libro Credit Union, our purpose is to strengthen financial well-being for a better tomorrow. Libro is a full-service financial institution serving more than 120,000 member-Owners through a network of digital services and 34 physical locations. As a trusted financial partner for 82 years, it’s our passionate staff and commitment to our communities that set us apart. Libro is a purpose-based business proudly committed to making positive social and environmental impact as a certified B Corporation®, as an associate member of the Responsible Investment Association, and as a Living Wage employer. If you want to see what makes Libro different, and how your purpose might align with ours then we want to hear from you! Join an inclusive and positive work environment that fosters career growth and advancement and together, we’ll shape a better tomorrow. Visit libro.ca/careers.
Media Contacts:
Mike Donachie, Communications Manager, Libro Credit Union
226-926-4068, mike.donachie@libro.ca
James LaJoie, Manager, Marketing, Kawartha Credit Union
705-875-4740, jlajoie@kawarthacu.com
Visit Libro.ca/media