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  • Libro Financial Group Announces New President and Chief Executive Officer

    London, Ontario, December 20, 2011 – The Board of Directors is pleased to announce the appointment of Stephen Bolton as Libro Financial Group’s new President and Chief Executive Officer, effective February 1, 2012.

    “Stephen Bolton is ideally-suited for the top leadership role at Libro,” says Rick Joyal, Chair of Libro Financial Group’s Board of Directors.  “Stephen has built the essential leadership and management skills since 1988 when he started his career at Libro, where he has served on the executive team as Vice President, Sales and Service Delivery, since 1995.  In that role, he was responsible for the network of staff who grow our business through service excellence and straightforward advice.  He demonstrates Libro’s values through his focus on teamwork, customer-owner service, and continuous improvement.  On behalf of Libro’s Board of Directors and our 57,000 owners, we extend our congratulations to Stephen, and look forward to continued success working with Libro’s team of exceptionally dedicated and talented people.”

    “As a credit union, Libro Financial Group is owned by our customers,” explains Theresa Mikula, VP Human Resources.  “On their behalf, Libro’s Board undertook a full recruitment and selection process to ensure they found the best qualified person to continue Libro’s pursuit of service excellence, sound advice and the delivery of practical banking solutions.  Libro has a proud track record of achieving world-class satisfaction results and returning 50% of profit to owners and 5% to the communities we serve.”

    Stephen Bolton started his career at Libro as a Loans Officer in 1988.  He also worked as administrative Farm Loans Supervisor, and Branch Manager in Arkona and Watford before becoming Vice President of Sales and Service Delivery in 1995.  With Stephen’s leadership, Libro has expanded branch delivery from 9 to 15 branches,   introduced mutual funds and wealth management services, reaching one of the highest penetration levels among Canadian credit unions, and has doubled the delivery staff complement while maintaining consistently outstanding customer satisfaction levels.

    Stephen holds a Bachelor of Commerce from the University of Windsor, and an Executive MBA from the Richard Ivey School of Business.  He is an Associate of the Credit   Union Institute of Canada, a graduate of the Queen’s Executive Program, and holds a number of certificates from the Canadian Securities Institute.  Stephen is past Chair of Vanier Children’s Services, a child mental health agency in London, and Vice Chair of the Board of Credential Financial Services, based in Vancouver.  Stephen and his wife, Betty, live on a farm near Poplar Hill, with their son, in grade 12, and daughter, completing her Bachelor of Commerce at the University of Windsor.

    “I am honoured to move into the role of head Coach at Libro,” reflects Stephen. “For the past 24 years, I have been privileged to work for a company and with people whose values match my own, and I have appreciated the countless opportunities to develop my skills and experience.  As President and CEO, I am inspired to help Libro continue our journey of contributing to the well-being of our customer-owners in an ever changing technological, economic and competitive landscape.  With the team of professional and dedicated staff, management and board of directors at Libro, we have incredible opportunities to integrate technology with financial advice and service delivery in ways that will enhance our reputation for delivering a world-class banking experience. Libro has an exciting and strong future.”

    Libro Financial Group is southwestern Ontario’s full-service credit union operated by a community of owners and open to everyone. With 57,000 owners and more than $1.9 billion in assets under administration, Libro delivers a full range of chequing, savings, investment, RRSP, insurance and loan products along with financial coaching and advice for consumers, and farm and business owners. Libro has been operating for 60 years and has 15 branches in southwestern Ontario. Owners have access to a surcharge-free network of 3,000 ATMs across Canada. For more information, see www.libro.ca.

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    For further information, contact:
    Tania Goodine,
    Vice President Brand
    Libro Financial Group
    Phone: 519-672-0130 x4328
    Cell: 519-871-0162
    Email: tania(dot)goodine(at)libro(dot)ca