Profit Sharing

Profit Share Distributions

As a credit union, Libro Credit Union is a financial co-operative, which means you not only have a say in how the business is run, you share in the profit.

Every adult Libro Owner has fifty $1 Class M Shares (ownership shares); you see that $50 on your statement or online banking. These shares remain with Libro as long as you're an Owner.

Libro Credit Union pays profit shares annually to Owners, based on the profitability of the credit union and the volume of business you hold during the year. The better Libro performs, and the more business you have with Libro, the more you can earn. While profit shares aren't a guarantee, Libro has a good track record of sharing profit with Owners, and sharing in this prosperity is something to look forward to when joining Libro.

Here is a sample of profit share distributions in the past few years:

Year Profit Share
2016 $0.36
2015 $0.20
2014 $0.90
2013 $1.15
2012* $1.25
2011* $1.75
2010* $0.95

*Libro Financial Group

What Can You Earn

In 2016, an Owner with $100,000 in average deposits and loans earned $36 in profit shares. In total Libro paid out $1,955,281 million in profit shares in 2016. There is a $5 minimum payout on profit shares. They are paid annually based on your average balance of the previous fiscal year; so if you're new to Libro you may not see profit shares the first year you're an Owner.

Investing & Redeeming

Profit shares can be held in your Registered Retirement Savings Plan (RRSP) once you reach a balance of $500. They are partially redeemable at 20% per Libro's fiscal year and fully redeemable when you leave Libro, turn 65, or upon death.

Profit sharing won't put millions in your pocket but it can add up, offset the fees you usually pay, and add value to everything you do at Libro.

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