Luminus Financial introduces online banking tools that let member-owners prepare budgets and track spending

TORONTO, June 07, 2016—Luminus Financial has launched the next generation of its online banking platform featuring personal financial management tools.

As part of its continuing dedication to providing clearly better banking, Luminus is one of the first credit unions in Ontario to bring this enhanced functionality to its over 4,000 members.

The enhanced online banking experience allows members to consolidate all their financial account transactions into one place to help analyze their spending and prepare budgets. Bank accounts, credit cards and investments, including those at other financial institutions, can be connected with the platform.

This new functionality also helps members calculate their total net worth by keeping track of debts and assets. Next generation online banking is customizable, allowing members to define their own spending and budgeting categories for both future and past transactions.

“We’re excited to provide this valuable service to our member-owners so they can better track their spending and improve their financial lives,” says George De La Rosa, CEO of Luminus Financial. This is one of the ways we are helping our member-owners afford more.

The new personal financial management tools:

  • Aggregate all your transactions including credit cards and other accounts at various credit unions and banks so you have one complete picture of where your money goes.
  • Can track your spending and manage budgets so you can change your habits and increase savings, wherever you go using online banking and our mobile app.

Learn more about how you can take charge of your money here.

About Luminus Financial

Luminus Financial (formerly Starnews), an Ontario credit union, was founded in 1951. Headquartered in Toronto, Luminus provides banking products and services, including business and personal banking, loans, investment products and insurance to over 4,000 members.

Renamed in 2011, Luminus is the designated credit union for employees of Toronto Star, Metroland, Air Canada, Globe and Mail and Metro. In 2013, Luminus partnered with BDO Unibank Inc. in the Philippines to launch the credit union’s “Remit Now, Pay Later” campaign featuring low-cost remittance programs to facilitate a cost-effective way for members of the Filipino community in Canada to send funds to their family and loved ones still living in the Philippines. In 2015 it opened the Financial Hub at 1 Yonge Street, where member-owners have access to a full range of financial resources and services outside of the credit union’s standard product and service offerings, including foreign currency exchange and wealth management services through service providers.

Members of Luminus are also owners of the credit union. At Luminus, member-owners have access to financial services at the least possible cost. Additionally, Luminus’ profits are shared with its members in the form of bonus interest on deposits and interest rebates on loans and mortgages.

For more information contact:

George De La Rosa

Chief Executive Officer

Luminus Financial

T: 416.366-5534 ext. 227