Libro unveils digital first

Libro Credit Union becomes first Canadian financial institution to offer scheduled Interac e-transfers

LIBRO CREDIT UNION announced this week that it is offering its clients a Canadian first – the opportunity to schedule an Interac e-transfer of funds, making it possible to set up one-time transfers at a future date.

The announcement, part of a pilot project in partnership with Central 1 Credit Union, comes as Covid-19 is driving dramatic changes in Canadians’ spending habits, including an increased dependency on digital and online banking platforms. According to Interac, the Canadian interbank network that links financial institutions and other enterprises for the purpose of exchanging electronic financial transactions, a record-setting 61.3 million Interac e-transfer transactions took place in April.

“Everyone at Libro is thrilled to be leading the way on bringing this service to Canada’s financial services industry,” said Scott Ferguson, Libro’s executive vice president, information systems. “We’re happy to say it’s another example of Libro making sure we are involved in the latest trends in payments and being ready to meet the demands of customers.

“We’re proud to have 36 physical locations across southwestern Ontario, and we also recognize that more and more people want to bank digitally and find the solutions they need to get the most out of their busy days,”  continued Ferguson. “Scheduling Interac e-transfers fits perfectly into our suite of digital tools.

“Much of the credit for this initiative’s success is down to our strong partnership with Central 1 and Interac. We think that’s another place where Libro can show leadership: in a willingness to partner with strong organizations that share our values.”