2020 Dividend Announcement

As we all work together to stay strong, healthy, and stable, Luminus Financial is pleased to announce the board approval of a 3.00% dividend payment for all Class A (Investment) Shares, Series 1 and Series 2, as well as Membership Shares.

Stronger Together
During times of uncertainty, it is important to remember that credit unions like Luminus Financial were purpose-built to support the financial strength of our member-owners. In Canada, credit unions took root during the hardship of the 1930s. They were created by communities and organizations who drew together to support each other and succeed despite tough economic conditions. Based on the values of cooperative banking and member-focused decision making, many of these original credit unions still exist today and are a testament to the value, stability, and strength that credit unions provide.

As a member-owner of Luminus Financial, you get to take advantage of that strength and history through one-on-one service, member-based decision making, representation on our board and, of course, annual dividend payments for Membership and Investment Shares.

Added Security for Other Investments
Additionally, Luminus Financial member-owners benefit from deposit insurance on all non-registered deposits, including those in GICs, chequing and savings accounts (up to $250,000) by the Financial Services Regulatory Authority of Ontario (FSRA, previously known as DICO or the Deposit Insurance Corporation of Ontario). Registered deposits including RRSPs, RRIFs, RESPs, and TFSAs benefit from unlimited coverage. These protections well exceed the banks’ coverage (limited to $100,000 per product in most cases) and ensures your hard-earned money is safe and secure with Luminus Financial, no matter what. If you would like to know more about these protections or would like to discuss setting up any of these products, our staff are available to discuss your options virtually.

Thank You!
We would like to personally thank each one of our member-owners for standing with us not only during this time of change, but also throughout our history as a credit union. Being able to pay dividends during this challenging time is just one small way that we can thank you for your continued trust and support.

No later than April 10, 2020 dividends will be paid at a rate of 3.0% for all applicable Investment Shares and Membership Shares held as of December 31, 2019. Payments will automatically be made in additional shares or cash depending on the type of share. For details you can check your balances through online banking, or email us at inquiries@luminusfinancial.com.

Thank you and take care!

George De La Rosa
CEO, Luminus Financial

Jon Olinski
Board Chair, Luminus Financial
 

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