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Ontario Credit Unions Engaged in Merger Discussions
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Peterborough/London, Ontario, July 17, 2025 (GLOBE NEWSWIRE) — The Boards of both Kawartha Credit Union and Libro Credit Union are excited to share that the credit unions have entered into merger discussions. By moving forward together, the combined credit union will become the credit union of choice for communities and Members/Owners across Ontario.
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“The Boards of both credit unions believe this merger is in the best interests of Members/Owners, employees, communities and the credit union,” says Libro Board Chair, Garrett Vanderwyst. “By coming together, we can scale and be better prepared for the future, while at the same time maintain the benefits and advantages of a community-focused credit union.”
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The credit unions are progressing well through the stages of the merger process. In August, a comprehensive Application to the Financial Services Regulatory Authority (FSRA) will be submitted, and if approved, Members/Owners from both credit unions would participate in a democratic voting process, likely in the fall of 2025.
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If approved, the new credit union would have approximately $11 billion in total assets under management, serving over 180,000 Members/Owners, across 57 locations in Ontario, offering a full range of personal and business banking, wealth management and insurance solutions.
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“Both credit unions have a long history of helping Members/Owners achieve their financial goals. By coming together the merged credit union will focus on providing the products, services and advice our Members/Owners need, while continuing to invest in our local communities,” says Kawartha Board Chair, Allison Chenier.
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More Information
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To learn more, visit the merger information website: www.goforwardtogether.ca
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About Kawartha Credit Union
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Headquartered in Peterborough, Ontario, Kawartha Credit Union’s purpose is to improve the financial success and well-being of our Members and the communities we serve. We provide values-based expert advice, a full range of competitive and easy-to-understand financial solutions, convenient service channels (including a network of 23 branches, and online and mobile banking), and access to thousands of surcharge-free ATMs across Canada and the U.S. Our 58,000 Members consistently rate us extremely high for overall service, knowledgeable staff, and for the caring and respectful way we help our Members achieve financial success. Kawartha Credit Union is open to anyone looking for a financial services provider they can trust. We call it “banking in your best interest” and we invite you to experience our difference.
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About Libro Credit Union
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At Libro Credit Union, our purpose is to strengthen financial well-being for a better tomorrow. Libro is a full-service financial institution serving more than 120,000 member-Owners through a network of digital services and 34 physical locations. As a trusted financial partner for 82 years, it’s our passionate staff and commitment to our communities that sets us apart. Libro is a purpose-based business proudly committed to making positive social and environmental impact as a certified B Corporation®, as an associate member of the Responsible Investment Association, and as a Living Wage employer. If you want to see what makes Libro different, and how your purpose might align with ours then we want to hear from you! Join an inclusive and positive work environment that fosters career growth and advancement and together, we’ll shape a better tomorrow. Visit libro.ca/careers.
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English (US)