Business Details
50+ Years
experience
Your Trusted Credit Union for Personal and Business Banking Solutions
Founded in 1951 by Toronto Star employees, Luminus Financial has served as a member-owned credit union dedicated to enhancing community financial services through collaboration. With over 70 years of experience, we prioritize innovative solutions and community-first principles while adapting to evolving member needs. Our cooperative structure ensures members receive competitive financial products, personalized service, and shared profits.We operate under core values of adaptability, responsiveness, commitment, and cooperation, aligning with global credit union principles. Our strategic leadership and governance practices ensure financial viability while maintaining social responsibility. As a trusted financial partner, we focus on empowering Ontario residents and businesses through accessible banking, education, and tailored financial solutions.
Services
Chequing Accounts
Savings Accounts
Credit Cards
Mortgages
Personal Loans
Term Deposits
RRSP
TFSA
RESP
RRIF
Details
- Year established: 1951
Highlights and features
- We operate as a member-owned cooperative, ensuring better rates and personalized service.
- We provide unlimited deposit insurance for registered accounts through FSRA.
- We offer financial literacy programs and community-focused initiatives.
- We combine 70+ years of experience with modern digital banking solutions.
- We prioritize fair treatment and transparent practices for all members.
Services
Chequing Accounts
We offer Infinite Chequing and Classic Chequing accounts designed for daily transactions. These accounts provide unlimited transactions, no monthly fees for eligible members, and integration with digital banking tools. Our chequing solutions cater to personal and business needs with features like free bill payments and mobile cheque deposits.
Savings Accounts
Our Infinite Savings and Tax-Free Savings Accounts (TFSA) deliver competitive interest rates with flexible access. TFSA accounts allow tax-free growth for retirement or education savings. These accounts support automatic transfers and are insured up to $250,000 through FSRA for non-registered deposits.
Mortgages
Luminus Ultimate Mortgages provide fixed or variable rate options with terms up to 25 years. We offer refinancing, portability, and pre-approval services. Our mortgage specialists help members navigate home purchases with personalized advice and competitive rates tailored to individual financial situations.
Personal Loans
We provide unsecured personal loans and lines of credit for debt consolidation, major purchases, or emergency expenses. Loan amounts range from $5,000 to $50,000 with fixed interest rates and repayment terms up to 5 years. Online applications and quick approval processes ensure timely access to funds.
Investment Shares
Luminus Investment Shares allow members to own a portion of the credit union while earning annual dividends. These shares offer returns based on financial performance and provide voting rights at annual meetings. Minimum investment requirements start at $100 with flexible contribution options.
People
George De La Rosa
Chief Executive Officer
George leads strategic initiatives and organizational growth at Luminus Financial, bringing decades of experience in financial services and cooperative governance to drive member-focused innovation.
Adam Kirilo
VP, Finance and Information Security
Adam oversees financial operations and cybersecurity frameworks, ensuring regulatory compliance and long-term fiscal health while maintaining robust digital protection for member data.
Adrienne McKenzie
VP of Compliance and Administration
Adrienne manages risk mitigation strategies and administrative systems, ensuring adherence to industry standards while fostering a culture of ethical business practices.
Tracy Harris
VP Operations & Digital Transformation
Tracy drives technological advancements and operational efficiency, implementing digital solutions that enhance member experiences across all service channels.
Joanna Cheng
Director, Member Relations & Corporate Culture
Joanna cultivates member engagement strategies and internal culture development, ensuring alignment with cooperative values and exceptional service standards.
Questions
Is Luminus Financial a bank?
No, Luminus Financial is a member-owned credit union regulated under Ontario's Credit Unions Act, offering similar services to banks with a community-focused approach.
Are my deposits insured?
Eligible deposits in registered accounts have unlimited FSRA insurance, while non-registered accounts receive coverage up to $250,000 through the Financial Services Regulatory Authority.
How do I open an account?
Visit our website to start an online application or contact any Ontario branch. Required documents include government-issued ID and proof of address for verification.
What digital banking options exist?
We provide online banking, mobile apps, e-transfers, and telephone banking services for 24/7 account access and transaction capabilities.
Do you offer business banking services?
Yes, we provide business chequing accounts, commercial loans, merchant services, and customized financial solutions for Ontario-based businesses.
How are members involved in governance?
Members elect board representatives, vote on key decisions at annual meetings, and participate in shaping organizational policies through democratic processes.
Reviews (3)
Smile
Jun 21, 2019
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Customer service reps in this place do not know how to do their job. Either they are not trained properly or they don't care for the institution 's reputation. Their client services delivery is poor. I have had a few dealings with them and they were disappointing everytime.
Linda Bevan
Jan 23, 2019
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I have a 5 year GIC purchased in 2015 from Luminus with instructions for yearly interest to be automatically deposited into my bank acct. This is the third year in a row where they have not done so. I have had to phone each year after due date to get the interest. Each time they seem very confused and promise that this will not happen again. I would not recommend trusting your money to Luminus financial.
Vicky Li
Sep 30, 2015
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As a Millennial, I recommend banking with Luminus Financial. They are a Credit Union that offers financial services just like the big banks but with minimal fees. I love their FREE Five Star Chequing account and I bundled up with their High Investment Savings account, which currently offers the highest interest rate in Ontario. And did I mention that there is no minimum requirement on these accounts? I used to bank with TD and used their free student chequing account, but after I finished school, I got sick of their account fees and switched over. I find Luminus staffs very friendly and helpful
