A proposed merger between Kawartha Credit Union and Libro Credit Union is all about setting up both sides for future success according to management.
News of the merger surfaced last week and if approved, there would be a combined credit union with roughly $11 billion in assets.
President and CEO of KCU, Norah McCarthy, says while this is an exciting step, there are some hurdles still to clear.
The new credit union would serve more than 180,000 members across 57 locations. McCarthy adds if approved, members won’t notice any immediate change.
“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.”
Written by Jordan Mercier
