Daily Banking Accounts

Libro is Banking with a Difference

Libro offers a full range of 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. Whatever your banking needs are, Libro has you covered.

Why Libro?

  • We’re here for you. You have goals and we can help you achieve them with personalized coaching.
  • Our co-operative structure means you’re an Owner and share in our profits. In 2019, we returned $14.7 million in profits to Owners.
  • We help create stronger communities by investing locally in financial resiliency, employment, housing and local food accessibility.

New to Libro? Join online!

  1. Choose the account type you want
  2. Open your account online in less than 5 minutes
  3. Talk to a Libro Coach. Learn More
Get Started

Already bank at Libro?

Explore the additional account options below. To open an account, contact a Libro Coach at 1-800-361-8222 or book an appointment today.

Chequing Accounts

Basic

A pay-as-you-go account for those who spend as little time banking as humanly possible. Best if you have limited transactions.

$4 (minimum)/ month

Chevron icon View

Monthly Fee

  • Waived with $1,000 minimum monthly balance
  • $0.60 per additional debit transaction

Key Benefits

  • 12 transactions per month
  • 5 surcharge-free Interac® ATM withdrawals per month*
  • Overdraft available
*Does not include fees charged by other financial institutions or independent ATM owners for the use of their ATM. To avoid extra fees, use Libro ATMs or those found on our locations page.

Go Free Chequing

Chequing account for those ages 13–25 with no monthly fee.

Free

Chevron icon View

Monthly Fee

  • Free for anyone under the age of 26

Key Benefits

  • Unlimited transactions
  • Unlimited surcharge-free Interac® ATM withdrawals**
  • Free unlimited Interac® e-transfers
  • 10 free Interac Request Money transactions per month
**Does not include fees charged by other financial institutions or independent ATM owners for the use of their ATM. To avoid extra fees, use Libro ATMs or those found on our locations page.

Simplify

Flat-fee unlimited account. Best if you keep a minimum monthly balance of $2,500+ or have 27+ transactions per month.

$14 / month

Chevron icon View

Monthly Fee

  • $2 discount with automatic payroll deposit
  • Waived with $2,500 minimum monthly balance

Key Benefits

  • Unlimited transactions
  • 5 surcharge-free Interac® ATM withdrawals*
  • Free unlimited Interac® e-transfers
*Does not include fees charged by other financial institutions or independent ATM owners for the use of their ATM. To avoid extra fees, use Libro ATMs or those found on our locations page.

US Chequing

An account for US Dollar transactions with cheques available.

Free

Chevron icon View

Monthly Fee

  • $0
  • 65¢ per additional debit transaction

Key Benefits

  • Three interest earning rate tiers:
    • $ 0 – $99,999
    • $100,000 – $499,999
    • $500,000 +
*Does not include fees charged by other financial institutions or independent ATM owners for the use of their ATM. To avoid extra fees, use Libro ATMs or those found on our locations page.

Premium

Premium flat-fee unlimited account. Best if you have over $75,000 in deposits and loans at Libro or require extra perks.

$25 / month

Chevron icon View

Monthly Fee

  • Waived with $75,000+ portfolio balance

Key Benefits

  • Unlimited transactions
  • Unlimited surcharge-free Interac® ATM withdrawals*
  • 10 free Interac Request Money transactions per month
  • Free unlimited Interac® e-transfers
  • Free cheque printing, stop payments, drafts
*Does not include fees charged by other financial institutions or independent ATM owners for the use of their ATM. To avoid extra fees, use Libro ATMs or those found on our locations page.

Savings Accounts

Did you know you can open a savings account in Online Banking? Simply click “Add Account” on the main account summary page!

View our Savings Rates

Investment

Savings account that pays a higher rate of interest on balances $1,000+.

Free

Chevron icon View

Monthly Fee

  • 2 free debit transactions per month
  • $2 per additional debit transaction

Key Benefits

  • 2 free transfers to loan payments, chequing, savings and investments (then $2 each)

View our Savings Rates.

*Does not include fees charged by other financial institutions or independent ATM owners for the use of their ATM. To avoid extra fees, use Libro ATMs or those found on our locations page.

Regular

Standard savings account; transaction fees waived with $5,000 minimum monthly balance

Free

Chevron icon View

Monthly Fee

  • $1 per debit transaction

Key Benefits

  • Free transfers to loan payments, chequing, savings and investments

View our Savings Rates.

*Does not include fees charged by other financial institutions or independent ATM owners for the use of their ATM. To avoid extra fees, use Libro ATMs or those found on our locations page.

Youth

Savings account for those up to age 25 with no monthly fee.

Free

Chevron icon View

Monthly Fee

  • Free for those up to age 25

Key Benefits

  • Unlimited transactions
  • Free transfers to loan payments, chequing, savings and investments

View our Savings Rates.

Can’t decide which account fits your needs? A Libro Coach can help.

Frequently Asked Questions

Does Libro have a service agreement?

Yes, our service agreement can be found online and explains the service standards Libro holds itself accountable to.

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.

What is overdraft protection?

Overdraft protection is an option you can add to your chequing account to help avoid declined transactions or non-sufficient funds, in case you forget about an upcoming automated payment. Contact a Libro Coach to ask if this option is right for you.

Can I earn interest on my savings accounts?

Yes! Different savings accounts pay different interest rates. Visit our rates page for full details. We also offer other savings options like TFSAs and GICs. See our investment page to learn more.