Term Deposits

Saving for something big? Term deposits are a great way to earn a fixed rate on your savings while dreaming of that future purchase like a car, house, or even that once-in-a-lifetime vacation!

Insurable non-registered deposits are covered up to $250,000 through the Financial Services Regulatory Authority of Ontario, and insurable deposits in registered accounts have unlimited deposit coverage. Click here to learn more about deposit insurance.

Short Term Deposits

A secure investment option that offers a guaranteed return at competitive rates. Minimum deposit of $500.00 required.

  • Terms available for 30, 60, 90, and 180 days
  • Interest rate guaranteed, and paid at maturity
  • Redeemable prior to maturity
  • Automatic renewal option offered. Short Term Deposits can be automatically renewed at maturity for the same amount (plus interest earned) and the same term, at the prevailing interest rate.
  • No service charges

Long Term Deposits

Want certainty and flexibility with your investments? Our L-Series of Term Deposits introduce a brand new benefit for our members: the transferable option. Choose from our 12 month, 18 month, 24 month, 36 month, 48 month and 60 month options!

  • You can switch from one term to another within the L-Series without penalty, within a 90 day period
  • Unlike mutual funds or stocks, which can go up or down, you are guaranteed a highly competitive interest rate. Thus, you know how much your investments will be worth at the end of their term
  • You can use your term deposit within your RRSP
  • All term deposits at Luminus qualify for our Member Rebate Program
  • Eligible deposits are insured by the FSRA up to an aggregate maximum limit of $250,000 except for Registered deposits which have unlimited coverage

And remember:  By investing through Luminus you are supporting responsible, “people-first” financial investment practices – the true values and ethics of a member-owned credit union!

Index-linked Term Deposits (subject to availability)

A secure investment option that offers a return based on the performance of the S&P/TSE 60 Index Funds. Make a minimum deposit of only $500.00.

  • 3 or 5 year terms available
  • RRSP eligible
  • No service charges

Please click below to check the performance on your index linked term deposits:

Escalator Term Deposits

A secure investment option that offers a guaranteed return at a competitive rate. A minimum deposit of only $500.00 is required to get started.

  • Rates increase after each year
  • RRSP eligible
  • Interest is compounded annually

Are deposits insured with Luminus Financial?

For registered products including, LIRA, LIF, RRSP, RRIF, RESP and TFSA:

Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). At Luminus Financial Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits in all registered accounts with Ontario Credit Unions have unlimited deposit insurance coverage through the Financial Services Regulatory Authority (FSRA).

For other eligible deposits:

Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA). At Luminus Financial Credit Union, eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) with Ontario Credit Unions are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA).