Libro Credit Union Limited

Financial coaching, personal and business financial services.

London, Ontario

Canada

www.libro.ca

Libro Credit Union Limited

Libro is southwestern Ontario’s largest credit union. As a financial co-operative Libro supports the well-being of people, businesses and communities by providing high-quality financial coaching and profit sharing and a full range of financial products and services including savings and chequing, investments, and borrowing.

In 2014 Libro Credit Union established a strong and clear statement of purpose – to grow prosperity in southwestern Ontario by transforming banking. We then began the work of ensuring everything we do contributes toward that aim.

We began to think differently. We shifted from thinking that we'd earn profits and do good things with it, to thinking we'll earn profits BY doing good things.

So, we created a plan to integrate purpose across the organization. It's a lofty plan, and one we're taking step-by-step. We are chipping away at it every day and see the benefit it brings to people, planet and prosperity.

Becoming B Corp certified was a way for us to join a global movement of companies using business as a force for good. It is also an opportunity for us to be honest with ourselves and truly measure our progress. It adds transparency and legitimacy to our efforts and that is a good thing. We'll use the results to help us on our way. We also think it's an opportunity to raise awareness that a sustainable business model is also a profitable business model.

What makes us a better company?

B Impact Report

Certified since: 

April 2018
Summary:

Company Score

Median Score*

Environment

Environment

The Environment section of the Assessment evaluates a company's environmental performance through its facilities; materials, resource, and energy use; and emissions. Where applicable, it also considers a company's transportation/distribution channels and environmental impact of its supply chain. This section also measures whether a company's products or services are designed to solve an environmental issue, including products that aid in the provision of renewable energy, conserve resources, reduce waste, promote land/wildlife conservation, prevent toxic/hazardous substance or pollution, or educate, measure, or consult to solve environmental problems.

5
7
Workers

Workers

The Worker section of the survey assesses the company's relationship with its workforce. This section measures how the company treats its workers through compensation, benefits, training, and ownership opportunities provided to workers. It also focuses on the overall work environment within the company through management/worker communication, job flexibility and corporate culture, and worker health and safety practices.

35
18
Customers

Customers

The Customers section of the Assessment measures the impact a company has on its customers. The section focuses on whether a company sells products or services that promote public benefit, and if those products/services are targeted towards serving underserved populations. Questions in this section will measure whether a company's product or service is designed to solve a social or environmental issue (e.g. improves health, preserves environment or creates economic opportunity to individuals or communities, promotes the arts/sciences, or increases the flow of capital to purpose-driven enterprises).

28
N/A
Community

Community

The Community section of the survey assesses a company's impact on its community. The Community section evaluates a company's supplier relations, diversity, and involvement in the local community. The section also measures the company's practices and policies around community service and charitable giving. In addition, this section includes if a company's product or service is designed to solve a social issue, including access to basic services, health, education, economic opportunity, arts, and increasing the flow of capital to purpose-driven enterprises.

39
17
Governance

Governance

The Governance section of the Assessment evaluates a company's accountability and transparency. The section focuses on the company's mission, stakeholder engagement, and overall transparency of the company's practices and policies.

17
6
Overall B Score
126
55

80 out of 200 is eligible for certification

*Of all businesses that have completed the B Impact Assessment

*Median scores will not add up to overall

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