Libro embraces RI

Libro Credit Union switches to responsible investments for all new mutual funds

LIBRO CREDIT UNION announced Monday that all of its new mutual fund account offerings will be comprised of responsible investment (RI) options.

RI refers to the incorporation of environmental, social and governance factors (ESG) into the selection and management of investments. RI has boomed in recent years as investors have recognized the opportunity for better risk-adjusted returns, while at the same time, contributing to important social and environmental issues.

Libro will become the first Canadian credit union to exclusively offer RI accounts.

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Libro’s mutual fund accounts are offered through Toronto-based NEI Investments, Canada’s leading provider of RI solutions. According to Libro, while already in place in practice, the official launch date for the RI accounts is May 1, 2021.

“This is a bold statement and we know it” ―Steve Bolton

“This is a bold statement and we know it,” says Libro CEO, Steve Bolton. “We are clear that we want to grow prosperity in a way that’s good for everyone – for people and our local economies and communities, and for the planet.

“It means we are helping Libro owners to make money while making a difference. We know consumers are driving this demand and the potential for positive impact is huge.”

A certified B Corp, Libro is also a member of the Responsible Investment Association of Canada.

According to Libro, the RI approach results in higher long-term financial returns, with a lower investment risk, and it is calling on other financial institutions to make similar decisions.

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“There is a clear demand from our owners for this change,” says Paul McQueen, Libro’s VP wealth. “Investment in our NEI responsible investing solutions has been growing at over 120 per cent a year, for the last five years ending March 31, 2021. 

“Libro manages over $1 billion of our owner assets, though our dealer partnership with Aviso Wealth,” continues McQueen. “Given consumer demand, and recent global government commitments to a more sustainable future, this is simply the right time to take real action.” Libro embraces RI Libro Credit Union Financial Services

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