Luminus Financial Services and Credit Union
This Page's Content Was Last Updated: July 21, 2026
Credit Union
Luminus Financial Services and Credit Union
Luminus Financial Services and Credit Union is a credit union located in Ontario. It was founded in 1951. It primarily serves Toronto workplace.
Luminus Financial Services and Credit Union was founded on September 26, 1951, by Toronto Star employees as Starnews Credit Union. It was established as a workplace based financial cooperative for members connected to the newspaper and later expanded beyond its original membership group.
Over time, the credit union grew through mergers and partnerships and adopted the Luminus Financial name. Today, Luminus is headquartered in Etobicoke and serves individuals, families, and businesses across Ontario.
Luminus offers personal and business banking, borrowing, mortgages, investments, and related financial services. It operates as a member owned cooperative.
Provinces served
Chequing and Savings Accounts
The account-related data on this page was last updated on July 20, 2026.
Chequing Accounts
Chequing Account
1. Account: Infinite Chequing Account
- Standard Fee
- Free
- Free Transactions
- Unlimited
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- This account allows Unlimited free transactions.
- Maximum Interac e-Transfer per week: $3,000
- This limit may vary depending on the client profile.
- Luminus's premium chequing account, offering fee-free transactions with no monthly fee and no minimum balance, in exchange for depositing your full payroll or pension into the account. Members who do get overdraft protection matched to their usual deposit amount. It also carries buyer protection covering most retail purchases against theft or damage for 120 days, plus an extended warranty that doubles the manufacturer's coverage for up to two years, both tied to your MEMBER CARD. It's free for anyone 25 and under with no payroll requirement attached.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Savings Accounts
Savings Account
Account: Infinite Savings Account
- Interest Rate
- 1.50%
- Standard Fee
- Free
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- Maximum Interac e-Transfer per week: $3,000
- This limit may vary depending on the client profile.
- Luminus's highest-interest savings account, built around keeping funds fully accessible rather than locking them in, with daily interest calculated on your closing balance and credited at month-end. There's no minimum balance requirement and no fees on deposits, whether made in branch, by mail, by electronic transfer, through payroll deduction, or at credit union ATMs. It's available as a registered, non-registered, or TFSA account, with insurable deposits covered up to $250,000 through FSRA.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Credit Union Overview
| Metric | 2025 | 5-Year Change |
|---|---|---|
| Assets | $282M | N/A |
| Loans | $186M | N/A |
| Deposits | $264M | N/A |
| Mortgages + HELOCs | $166M | N/A |
| Revenue | $8M | N/A |
| Efficiency Ratio | 72.5% | — |
| Members | N/A | — |
| Branches | 1 | — |
| Target Members / Region | Toronto workplace | — |
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Contact
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