It's a Yes!
Forward, together.
Together we’ll become Ontario’s partner of choice for financial well-being - for members, for employees, for communities.
Kawartha Credit Union and Libro Credit Union are excited to share that we have merged (this legal process is called an amalgamation, meaning we will create a new organization together) and we will move forward as one credit union.
- Together, we will strengthen our ability to serve – by deepening relationships, expanding access, and delivering the products, services, and advice our members rely on.
- Together, we can create something stronger – a credit union with the size to grow, the stability to adapt, and the heart to stay grounded in the communities we call home.
- Together, we will lead with purpose – ready to innovate, compete, and thrive in a changing financial landscape, while staying rooted in the cooperative principles that define who we are.
With member support, we can take this next step forward, together!
Member/Owner Guide
We’ve prepared an extended digital guide for Members/Owners of Kawartha and Libro to support an informed vote. This guide includes details about the proposed merger, the expected benefits for Members/Owners, employees, and communities, the potential risks and how we plan to address them, and how the new credit union will operate.
Forward, together isn’t just a phrase — it’s how we’ll get there.
It’s how we’ll protect what matters, while preparing for what’s next.
By coming together, we’ll ensure the future of the values we share: strong local connections, advice that puts people first, and a commitment to supporting members, employees, and communities for the long term.
We’re confident in the benefits ahead. At the same time, we recognize there may be potential risks to the proposed merger that could temporarily impact members. As part of our planning, we are addressing the potential of operational impacts, technology and systems challenges as we work to bring our credit unions together.
Forward, together for members
- Better digital banking experiences – backed by the strength of a growing credit union with more to invest
- More in-person access through 57 locations across Ontario
- Access to deeper financial expertise and personalized advice for every stage of life and business
- A wider range of products and services across personal banking, business banking, wealth, and insurance
- Greater lending capacity and tailored support for business members
- Enhanced agricultural banking support through dedicated specialists serving local farming communities
Forward, together for employees
- More opportunities for career growth and advancement
- Enhanced training, mentorship, professional development
- Greater flexibility through remote work options and mobility across a larger network
- A culture that supports purpose-led work and rewards success through performance-based compensation
- Improved tools, technology and systems to support effective work and exceptional service
- The opportunity to be part of one of Ontario’s largest credit unions – with a stronger platform for impact
Forward, together for communities
- A financially stronger credit union with more to reinvest in the communities we serve
- More opportunities for employees to engage in meaningful local initiatives
- Continued support for local partnerships, programs and priorities
- A commitment to values-based banking where community impact is central to how we measure success
- Growth that strengthens, not replaces, our local roots
Forward, together as a stronger credit union
- Increased resilience to navigate changing economic, regulatory, and competitive environments
- Greater capacity to invest in technology, people, products, and services
- Strong brands with aligned cultures and values, with strong roots of caring for members, employees, and communities
- A foundation built for long-term sustainability innovation and leadership in a rapidly evolving financial landscape
Voting
Voting is Now Complete.
Thank you to every member for helping shape the future of your credit union. The voting period ran October 20 to 30, 2025.
Kawartha Members
You are eligible to vote if, as of September 30, 2025:
- You are 16–17 years old and hold at least $5 in membership shares, or
- You are 18 or older (or an organization) and hold at least $25 in membership shares.
If you or your organization also hold the following as of October 9, 2025, you can vote as a shareholder:
- Class B Affinity Shares
- Class A Investment Shares, Series 1
Each member with membership shares receives one vote.
Additional votes are granted to holders of Class B or Class A shares based on their shareholdings.
Libro Owners
You are eligible to vote if, as of September 30, 2025:
- You are 18 or older (or an organization), and
- You hold membership shares of Libro Credit Union.
If you also hold:
- Class P Profit Shares, or
- Class I Investment Shares (Series 1–6),
you can vote as a shareholder.
Each Owner with membership shares receives one vote, plus additional votes based on shareholdings.
Voting opened Monday, October 20 at 9:00 a.m. (ET) and all votes were received by 11:59 p.m. (ET) on Thursday, October 30, 2025.
You can vote:
- Online using your own internet-connected computer or device, or
- In-branch during regular branch hours using a Kawartha or Libro Credit Union computer.
Voting will be conducted securely through Simply Voting, an independent third-party platform.
- Kawartha Members: kawartha.simplyvoting.com
- Libro Owners: libro.simplyvoting.com
You can vote:
- On your own device, or
- At your local branch with staff assistance.
Before voting begins, eligible voters with a valid email address on file will receive a voter information email from Simply Voting containing your login credentials. If you don’t receive your voting email by October 18:
- Kawartha Members: Call 1-855-670-0510 or visit your local branch.
- Libro Owners: Call 1-800-361-8222 or visit your local branch.
Our teams are happy to help you complete your vote electronically.
180K+
Members
1,100+
employees
55+
branches
$11B
assets under management
Timeline
News and events
Read the latest news:
November 12, 2025
October 10, 2025
September 10, 2025
July 17, 2025
Events:
Special General Meeting of Kawartha Members
Special General Meeting of Libro Owners
Libro successfully hosted their Special General Meeting on November 6, 2025 to formally announce the results of the special resolution vote on the Proposed Amalgamation.
Frequently asked questions
Background
We’ll refer to it as a “proposed merger” throughout our communications. Legally, this process is an amalgamation, which means Kawartha and Libro would come together to create a new credit union, rather than one that is joining the other. Using “proposed merger” helps keep our language clear and consistent for Members/Owners, while still reflecting the legal process accurately.
More than ever, credit unions are realizing the advantages of cooperating, collaborating, and joining together. Kawartha and Libro are coming together with an exciting, shared vision: scaling to become one of Ontario’s largest credit unions, while staying true to our roots. By combining our strengths, we’ll be better equipped to invest in technology, enhance our product offerings, increase career opportunities for employees, and deliver long-term value – offering a leading cooperative banking choice for Members/Owners across Ontario.
Members will gain access to a wider range of products, enhanced financial expertise, and more convenient service through digital channels and a larger branch network across Ontario. As a stronger credit union, we’ll be able to invest more in technology, personalized support, and community impact, while staying true to our shared values.
Kawartha and Libro have deep roots in local communities and a shared commitment to values-based banking. Our service areas complement each other geographically, creating a strong, province-wide presence while keeping decisions local. Together, we’re positioned for enhanced growth and the ability to offer expanded and improved services to Members/Owners. This partnership ensures we’re ready to support our Members/Owners and employees now and the future — enhancing our services, investing in our digital capabilities, improving our processes, expanding employee career options, supporting our talented employees and remaining competitive in a rapidly evolving financial landscape.
There are potential risks to the merger that could temporarily impact members. These include operational impacts, technology and systems challenges as we work to bring our credit unions together. These risks have been considered and documented in the Member/Owner Guide.
Timeline/Process/Vote
The proposed merger has been approved by both Boards, and our regulator. With the proposed merger supported by members through a vote, the new credit union will officially launch on January 1, 2026. We'll continue to share key dates as they are confirmed. For a timeline of key milestones, refer to the Timeline section on this website.
Yes. Members of Kawartha Credit Union and Libro Credit Union were asked to vote on the proposed merger during a formal member vote October 20-30, 2025. The merger can only proceed with member approval.
Right now, both credit unions are focused on this proposed merger. As part of our agreement, neither Kawartha nor Libro will initiate or engage in any other merger discussions while this process is underway, unless jointly agreed to by leadership. Our priority is making this potential partnership a success.
We’re here to help. If you have questions or want to talk to someone, please reach out in the way that works best for you. We’ll be ready to support you and answer your questions.
Kawartha members can contact the team by email at communications@kawarthacu.com or by phone at 1-855-670-0510. Libro members can reach us by email at forward.together@libro.ca or by phone at 1-800-861-8222.
The most up-to-date information will always be available on this website. We’ll also share updates through email, social media, and other channels as the process moves forward.
Impact to the Credit Union
No branch closures are planned as part of this merger. Kawartha and Libro have no geographic overlap in our branch networks, and the combined organization would maintain and operate 57 branches. Our goal is to maintain strong local service while expanding our reach across Ontario.
The merged credit union will have its head office in London, while continuing to have a regional office in Peterborough.
The merged credit union’s legal entity name will be Libro Credit Union Limited. Recognizing the strength of our existing brands, we will continue to operate under those familiar names in their respective regions for the foreseeable future.
To meet regulatory requirements, Kawartha will make a name adjustment. Beginning January 1, 2026, it will operate as Kawartha Financial Services, a division of Libro Credit Union Limited. Members will continue to see and interact with the Kawartha brand they know and trust.
Yes. The Board of Directors of the merged credit union will include representation from both Kawartha and Libro. The proposed Board of the merged credit union is:
- From Kawartha: Judy Cameron, Jeff Carter, Allison C. Chenier, Lawrence Davis, Mary McGee
- From Libro: Elizabeth Balwin, David Billson, Jeff Brown, Jacquie Davison, Alan DeVilliaer, Jacqueline Peterson, Jodi Simpson, Garret Vanderwyst
- The Chair of the Board will be Garrett Vanderwyst. The Vice-Chair will be Allison Chenier.
Read the Supplemental Information Package for more information on each Board member.
Shawn Good is the CEO of the merged credit union. Norah McCarthy serves as President, Kawartha Financial Services, and continues to lead the Kawartha distribution channels while supporting transition and integration efforts. The full Executive Leadership Team is available here.
Yes. A combined Executive Leadership Team will lead the merged credit union. Details will be shared closer to the effective date, including how the team reflects the strengths of both organizations.
Impact to Members, Employees, and Community
At the time of the merger, you’ll continue to use your accounts and services as usual. Over time, we’ll explore ways to enhance your experience through added convenience, improved digital tools, and expanded service options. Any changes will be clearly communicated in advance.
Yes. Your existing banking arrangements, including direct deposits, automatic payments, and cheques, will continue to work as usual. If any updates are required later on, you’ll receive clear instructions and advance notice.
In the merged credit union, each membership share will be valued at $1.00. Every member will be required to hold at least five (5) membership shares, for a total minimum of $5
- If you are a current Kawartha Member, each of your shares will be converted into five shares in the merged credit union. For example, one Kawartha membership share (valued at $5.00) will become five membership shares (each valued at $1.00) in the merged credit union.
- If you are a current Libro member, your shares will be converted on a one-to-one basis. For example, one Libro membership share will become one membership share in the merged credit union.
No. After conversion, every Member/Owner will meet the requirement of holding at least five (5) membership shares valued at $1.00 each. You will not need to buy additional shares because the conversion process ensures that the minimum requirement is satisfied. The value of your membership will remain the same. The conversion simply adjusts the number of shares you hold so that all Members/Owners are treated fairly and consistently under the new By-Laws of the merged credit union.
Once the merger is complete, Libro and Kawartha will become one legal entity. That means FSRA deposit insurance coverage will also apply on a combined basis, not separately for each credit union. FSRA insures non-registered eligible deposits (such as chequing and savings accounts) up to $250,000 per member, per insured category, across the new merged credit union. Registered accounts (such as RRSPs, RRIFs, and TFSAs) continue to have unlimited coverage. If you currently have deposits at both Libro and Kawartha, your total coverage will be calculated together once we are one credit union.
We know how important this question is for you as employees and for the members you support every day. There will be many opportunities for employees to grow within the merged credit union, and we are excited about the opportunities for our employees. Operational and structural changes will occur over time with systems alignment, tentatively scheduled in 2027. While some change is inevitable in any merger, we are dedicated to supporting our employees through this transition and we are committed to minimizing job loss as a direct result of this merger. Whenever possible, employees will be integrated into the merged credit union in roles that align with their skills, expertise, and qualifications.
Yes, in a positive way. With greater resources, the merged credit union will be able to invest even more in local communities, continuing and expanding the impact of existing programs, partnerships, and sponsorships.
Contact us
We’re here to help with any questions you may have. Contact your credit union today or stop by your local branch.
