Starnews Credit Union

Welcome to Luminus Financial, a member-owned cooperative financial institution that has been serving its community for over 70 years. Our mission is to provide our members with exceptional financial services while promoting financial literacy and community development. We are committed to putting our members first, offering them better rates, lower fees, and personalized service. As a not-for-profit organization, we reinvest our profits back into our community, supporting local initiatives and programs. Our vision is to be the financial institution of choice for Canadians who value community, cooperation, and social responsibility.

Banking

We offer a range of banking services designed to meet the diverse needs of our members. Whether you need a high-interest savings account, a flexible chequing account, or a convenient US dollar account, we have you covered. Our Infinite Accounts provide the highest possible savings rate, allowing you to earn more while having access to your funds. Our chequing accounts offer unlimited transactions, free Interac e-Transfers, and no monthly fees with a minimum balance. Our savings accounts offer competitive interest rates, no minimum balance, and no monthly fees. Our US dollar account allows you to hold and transfer US dollars without worrying about exchange rates.

Borrowing

At Luminus Financial, we understand that life events can require financial assistance. That's why we offer various borrowing options, including personal loans, lines of credit, consolidation loans, and mortgages. Our loans come with competitive interest rates, flexible repayment terms, and no prepayment penalties. Our mortgages offer competitive rates, flexible terms, and options such as co-op and co-ownership mortgages. We also offer the Luminus Ultimate Mortgage, a unique mortgage product that offers low rates, flexible payments, and the option to skip a payment once a year.

Investing

At Luminus Financial, we believe in maximizing your investment dollars. That's why we offer a range of savings and investment accounts to match your individual needs and investment goals. Our term deposits offer competitive interest rates, flexible terms, and low minimum deposits. Our Tax-Free Savings Account (TFSA) and Registered Retirement Savings Plan (RRSP) allow you to save for your future while benefiting from tax advantages. Our Education Savings Plan (RESP) helps you save for your child's education while benefiting from government grants. Our Retirement Income Fund (RRIF) offers flexible retirement income options, and our First Home Savings Account (FHSA) helps you save for your first home while benefiting from government incentives.

MOR Program

When you become a member and invest in Luminus, you gain access to the MOR Rewards Program. This program offers exclusive member benefits, including preferred investment rates, bonuses, discounted loans and mortgages, and access to exclusive member events. The more you invest and borrow with Luminus, the more rewards you can earn.

Community Investment

At Luminus Financial, community is at the heart of our journey. That's why we invest in local initiatives and programs that promote community development, education, and social responsibility. Through our Community Investment Program, we support local organizations that align with our values and mission. We also offer financial education resources and workshops to empower our members and community members with financial literacy skills.

Governance

As a member-owned cooperative, Luminus Financial operates under a democratic structure, where members have equal voting power. Our Board of Directors is elected by the members and is responsible for overseeing the management of the credit union. We also have a commitment to transparency, accountability, and ethical practices. Our annual general meetings provide members with an opportunity to engage with the Board and management and contribute to the decision-making process.