Privacy Policy

Libro complies with The Personal Information Protection and Electronic Documents Act [PIPEDA], a Canadian federal law that regulates the collection, use, and disclosure of personal information in the private sector and adheres to the principles set out in the model code within the act.

1. Accountability

Libro Credit Union has designated a Privacy Officer responsible for ensuring compliance with PIPEDA and overseeing the implementation of Libro’s Privacy Program. The Privacy Officer’s contact information is provided to facilitate inquiries and complaints related to privacy matters.

2. Identifying Purposes

Libro identifies and documents the purposes for which personal information is collected before or at the time of collection. These purposes are communicated to the individual from whom the information is collected.

Examples of required personal information includes but may not be limited to the following:

• Full name, civic address, phone number, date of birth.
• Identification, SIN or tax identification number.
• Occupation, Politically Exposed Person determination.
• Credit records and income verification for loan products

The personal information provided by Owners is used for the following purposes:

• Determine Owner’s qualifications for selected services
• Protect and detect both Owner and Libro from losses due to fraud
• Understanding our banking relationship with you, including beneficial ownership, account operations, etc.
• Validate your identity and authenticate you each time you interact with us
• Process applications and confirm your suitability for ownership, products, and/or services
• Manage and administer your products and services
• Assess your eligibility for credit, to collect debts, and to ensure credit reporting accuracy
• Provide you with personalized information on products, services, and other communications
• Manage your participation in our contests, surveys, or promotions
• Discover trends with products and services, conduct satisfaction surveys, and other research to improve our services and Owner experience.
• Help manage and assess our risks, operations, and relationship with you
• Meet legal and regulatory requirements
• Share with third parties, as applicable, that are under contract with us to provide financial products or services.

3. Consent

Libro Credit Union obtains consent from Owners before collecting, using, storing, or disclosing their personal information, as applicable and required by law.

As per PIPEDA, there are several types of consent that organizations are required to use to ensure they are handling personal information responsibly and transparently.  These include:

• In writing (when completing and signing an application)
• Through inaction (failing to check a box indicating that you do not wish your name and address to be used for optional purposes)
• Verbally (information collected in person or over phone)
• Electronic means (at the time you use a product or service online)
• Through an authorized representative (legal guardian, power of attorney)
• Through parent or guardian of a minor chid (under the age of 13)

Individuals have the right to withdraw their consent at any time by providing a written request. However, the withdrawal of consent may be subject to legal or contractual restrictions.

4. Limiting Collection

Libro limits the collection of personal information to what is necessary for the identified purposes. We collect personal information by fair and lawful means, without misleading or deceiving Owners about the purpose of the collection, and without deception in obtaining consent.

5. Limiting Use, Disclosure, and Retention

Libro Credit Union uses and discloses personal information only for the purposes for which it was collected, except with the consent of the individual or as required by law. We retain personal information only for as long as necessary to fulfill those purposes.

6. Accuracy

Libro Credit Union uses best efforts to ensure that personal information is accurate and complete as necessary for the purposes for which it is to be used. Individuals have the right to request corrections to their personal information.

7. Safeguards

Libro Credit Union protects personal information with appropriate security measures against risks such as loss, theft, unauthorized access, disclosure, copying, use, or modification. Libro employs physical, organizational, and technological controls to safeguard personal information.

8. Openness

Libro Credit Union’s privacy notice is available at libro.ca and can be printed upon request.

9. Individual Access

Personal information is typically available through account statements or online banking for all Owners. If you are unable to obtain your personal information through these channels, please send a written request outlining the information you are seeking to Libro’s Privacy Officer, and we will respond within 30 days. Note that fees may apply for retrieving records and will be disclosed beforehand.

If the requested information includes references to other individuals, is legally privileged, or contains proprietary information, or other valid reasons, we will provide an explanation as to why those items cannot be shared.

10. Challenging Compliance

Libro Credit Union has procedures in place for individuals to raise privacy concerns or complaints. All challenges are investigated and addressed promptly.  If you have privacy concerns, please discuss them with your Libro Coach or Branch Manager or escalate them to our Privacy Officer directly.

Additional Information

Libro’s Service Agreement

Cookies: what are they and how are they used at Libro?

Personal Information Protection and Electronic Documents Act (PIPEDA)

Related Links

Service Agreement | Terms of Use | Trademarks & Copyrights | Debit Card Agreement | Aviso Wealth