Maybe it's time.
Banking that puts your life first.
Libro offers a full range of personal chequing and savings accounts to fit your needs. We’re committed to giving you the best service and coaching along with convenient access to do your banking the way you choose.
Free coaching for every member. It’s how Libro is different.
Why a credit union?
Owned by its members, not outside shareholders.
- You’re an owner, not just an account
- Profits stay local, shared with members
- Real coaching, with a say in how it’s run
Good advice starts with listening.
Switching your banking is easier than you think
You don’t move a thing. ClickSWITCH moves your payments and deposits for you.
- We move your automatic payments and direct deposits
- A Coach walks you through all the steps, about 10 minutes
- Your money stays local, and you become a member
Be in good company
People like you bank with Libro
Families, neighbours and local business owners across Ontario. The faces here are just a few of them.
New to credit unions? Start here.
What is a member?
Credit unions are financial cooperatives that are locally owned by their account holders — at Libro, our customers are known as members.
What’s the difference between a credit union and bank?
Credit unions provide many of the same types of financial products and services as local big banks. Differences are most notable, but not limited to, areas like profit sharing and governance:
• Profit Sharing: As large, for-profit entities, banks operate for the purpose of making a profit that is distributed to the shareholders of the bank. In contrast, credit unions reinvest profits back into the people, businesses, and local communities.
• Governance: A credit union has a board of directors made up of volunteers who have been voted in democratically, with each credit union member getting one vote regardless of how much they have invested. This means real Libro members make up our board. In contrast, a bank’s board members are appointed and paid by shareholders.
Why do I have to buy membership shares?
To open an account at Libro, you’re required to purchase membership shares and become a member. Membership is what sets Libro apart. It means you have opportunities to impact our organization, and receive an individual share of our profits.
Does Libro offer free chequing accounts?
Yes. We offer a Go Free Chequing Account for anyone under the age of 26.
Does Libro offer deposit insurance?
Yes, when you’re a member of an Ontario Credit Union, your deposits are insured at no cost to you. To find out more information about what’s covered and what’s not, please read more on deposit insurance.
That's Better.
Let's Make Money Better.