OTTAWA - The federal Liberal party says it's debt-free, roughly 14 months after sweeping to power in 2015, thanks largely to new members who signed on as supporters during an aggressive fundraising campaign.

In a letter to the party's national board, party president Anna Gainey says the Liberals paid off the remaining $1.9 million it still owed from the election campaign that put Justin Trudeau in the prime minister's chair.

The letter, sent to board members late today, says the debt was paid off as of last month, and also notes that the party has enlisted an additional 50,000 members since opting in May to waive membership fees.

The Liberals spent a little more than $40 million during the campaign, Liberal national director Jeremy Broadhurst estimated shortly after it was over.

Since then, the party has been emailing supporters and potential donors at every turn, encouraging them to out-donate the Conservatives, who had shown they were adept at garnering grassroots support.

Gainey says the fundraising paid off, with the Liberals surpassing the Tories with individual donations from 35,000 people through six consecutive quarters, averaging $43.26 each.