As a member-owned credit union, we are always working to improve our products, services, and systems to make your financial life better. That is why we are excited to share a number of important updates that you can look forward to over the next several months.
New Website!
Exciting news! A new and improved Luminus Financial website is on the way. Our dedicated team has been hard at work for the past few months, focusing on enhancing your online banking experience. The upcoming site will feature streamlined navigation, improved mobile optimization, educational resources, enhanced security, and interactive features. Stay tuned for the official launch date as we’re committed to providing you with a more efficient and enjoyable online banking experience.
Streamlined Products & Services
We’ve also been diligently working to streamline our products and services, aiming to provide you with a more efficient and user-friendly experience. Our expert product team has been focusing on simplifying our product offering to make it easier for you to find and access financial solutions that match your goals and every day banking needs. Watch for more details as we’re committed to making your financial journey smoother and more convenient.
New Multi-Factor Authentication
Exciting news for our community! To enhance the security and protection of your accounts, we’re introducing Multi-Factor Authentication (MFA). The new feature will be live on Tuesday, October 17th at 4pm ET.
Please note that starting November 1st, it will be mandatory for all members to enroll in this two-factor authentication process. Your online safety is our top priority!
Member PAC Reset Capability
For those you looking to change their password after the launch of MFA, we kindly ask you to set up MFA for your account first. This ensures that even if someone gains access to your password, they won’t be able to access your account without the additional verification steps provided by MFA.
Expanded MOR Program Benefits
Great news for MOR Program members! We’re expanding the program with exciting new benefits to provide even more value to our loyal members. Our team has been hard at work to enhance the MOR Program, and we can’t wait to unveil the added perks and rewards that will make your membership even more rewarding. Stay tuned for the official announcement as we’re dedicated to ensuring you receive the best benefits possible. Not a MOR program member?
Membership Dues Are Getting an Overhaul
Each year, we get several questions from members about their annual dues and how we can make it easier for members to manage their dues payment. To answer this request, in 2024, we will be changing membership dues from a one-time annual fee to a small monthly fee of $1.25/month. This new fee will automatically be withdrawn from your account each month and applied to your annual membership dues. For 2023, membership dues will be withdrawn on November 30.
What Are Membership Dues?
Membership Dues are a small fee ($15.00 for 2023) that all Member-Owners are charged each year. These fees are paid annually by credit unions on a national and provincial level.
What are Membership Dues used for?
Membership Dues allow us to provide our Member-Owners with access to a wide range of products and services including INTERAC® for on-the-go purchases, free access to ATMs on THE EXCHANGE® Network, and our wide range of VISA® cards. It also supports the ongoing security of your accounts online, regulatory reporting, anti-money laundering monitoring, and much more. In short, they help support the many systems and partnerships that set credit unions apart from the big banks.
Do my dues help anywhere else?
You betcha. Annual Membership Dues also help to support the Ontario Credit Union Foundation (OCUF) which manages funds and disbursements to registered charities across Ontario including the annual CU Succeed bursary, which provides scholarships for financially deserving youth across Ontario. Pretty great, right?
Big things through small actions
The power of annual Membership Dues is that by each Member-Owner making a small investment in the credit union, everyone benefits for years to come. It’s the credit union (that means you) doing what it does best – working together to create something truly exceptional!
