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Food Family Merger Exemplifies the Luminus Financial Philosophy

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Since the autumn of 2009, Luminus Financial (formerly Starnews Credit Union) has been joined by four credit unions. We have grown by 110 percent and now rank among the top 100 credit unions in Ontario. The journey has been both exciting and rewarding, with a strong sense of commitment to providing mutual benefit. For example, all employees affected by the mergers were offered positions at Luminus Financial.

The most recent merger of Food Family Credit Union is a good example of how we have achieved growth through goodwill. Lance Porter, now with Luminus Financial and formerly employed by Food Family Credit Union, echoes the basic sentiments of all of the credit unions who have joined with Luminus Financial: “In discussing the possible merger of Food Family Credit Union, we found Luminus Financial very easy to dialogue with – and very willing to discuss and accept our requirements when feasible. We liked how they shared all available information and presented well the future direction of Luminus Financial. They understood our requirement to seek a marriage partner, rather than be adopted.”

We were very pleased that after considering their merger options, the board decision to join Luminus Financial, and the vote of membership at the Food Family Credit Union annual general meeting, was unanimous.

We invite other credit unions seeking the advantages of a merger to contact our CEO, George De La Rosa at 416.366.5534 ext. 227 or via email at gdelarosa@luminusfinancial.com.

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