Profit Share Distributions
Profit sharing is just one of the many ways Libro gives back to Owners and communities. By deepening partnerships, enhancing our financial coaching, and staying true to our commitment to Owners, we continue to create long-term value. Our dedication to the communities we serve remains a cornerstone of our approach—strengthening financial well-being for all.
Every adult Libro Owner holds the required amount of Class M Shares (ownership shares). You will see your membership shares and profit shares on your statement or online banking under Investments. These shares remain with Libro as long as you’re an Owner.
Libro Credit Union pays profit shares to Owners based on the profitability of the credit union and the volume of business you hold during the previous fiscal year. Profit sharing is not guaranteed, and the program is subject to review from time to time.
Here is a sample of profit share distributions in the past few years:
Year |
Profit Share |
|---|---|
2024 |
$0.36 |
2023 |
$0.20 |
2022 |
$1.00 |
2021 |
$1.00 |
2020 |
$0.30 |
2019 |
$1.32 |
2018 |
$1.00 |
What Can You Earn
In 2024, an Owner with $100,000 in average deposits and loans earned $36 in profit shares. In total Libro paid out $5.15 million in profit shares and dividends for 2024. 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.
Contact your Libro Coach if you have questions about profit sharing.
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.