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! Eligible term deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA) for up to $250,000 while registered products enjoy unlimited coverage. For more information, click here to visit the FSRA website.

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

The Financial Services Regulatory Authority of Ontario (FSRA) provides separate unlimited deposit insurance protection for deposits held in registered savings plans while non-registered deposits (savings accounts, term deposits, GICs, chequing accounts, certified cheques, money orders, bank drafts and funds in transit) in the name of an individual member are covered up to $250,000. Visit the FSRA website for full details.