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New Accounts, New Possibilities: Getting To Know Our New Luminus Accounts

New Account Types for Luminus Financial

In this article:

We’re thrilled to announce exciting new accounts, launching July 1, 2024 for all members of Luminus Financial! In this article, we’re excited to review our new account offerings, highlighting the features and benefits designed to empower you to achieve your financial goals. We’ll delve into what makes these accounts unique and how they can seamlessly integrate into your life, helping you manage your money with confidence.

Find Your Perfect Fit: New Accounts Overview

So, what’s changing? We are streamlining Luminus and Airline accounts into two simple tiers: Classic and Infinite.

Looking for a straightforward and flexible banking experience? Our Classic accounts offer chequing, savings, and business options with clear-cut fees and the freedom to manage your money how you see fit. Only pay for what you use, and build a banking package that meets your needs without all the extras (if your are into extras, read on).

Ready to take your banking to the next level? Take control of your finances with our Infinite accounts. Experience a premium banking package with waived fees, valuable protection services, and more. Here’s what you can expect:

  • Infinite Chequing Account: Enjoy unlimited transactions, peace of mind with overdraft protection, and added security with purchase protection – all for free.
  • Infinite Savings Account (Personal & Business): Maximize your savings with our industry-leading interest rates. Plus, the flexibility to withdraw funds whenever you need them, while still earning interest on your personal or business deposits.

Luminus Financial Member Account Changes

For existing Luminus Financial member-owners, on July 1, 2024, your current account(s) will automatically transition to the account that most closely matches your existing services. See the image below for more details. Note that while some fees and limits may change, these new products are designed to provide greater value and convenience for our member-owners.

If you would like to transition to a different account type, please contact us at 1-877-782-7639 or email us at inquiries@luminisfinancial.com.

Updated Luminus Products

Airline Financial Member Account Changes

For former Airline Financial member-owners, on July 1, 2024, your current account(s) will also automatically transition to the account that most closely matches your existing services. See the image below for more details. Note that while some fees and limits may change, these new products are designed to provide greater value and convenience for our member-owners.

As we transition toward a unified banking experience, we kindly ask you to download any necessary statements from your Airline Credit Union account at your earliest convenience. After the bankking systems are merged, your access to historical Airline Credit Union statements will no longer be available online. After July 1, 2024, only new monthly statements for your Luminus Financial account will be available online.

If you would like to transition to a different account type, please contact us at 1-877-782-7639 or email us at inquiries@luminisfinancial.com.

Updated Airline Products

The Classic Chequing Account

For those who prefer a pay-as-you-go approach, the Classic Chequing Account offers straightforward pricing for essential banking services, meaning you only pay for the services you use. No surprise charges – just straightforward pricing for essential banking needs like cheque writing, debit card transactions, and online bill payments.

  • Ideal for infrequent banking users: The Classic Chequing Account is a fantastic option for those who don’t require a high volume of monthly transactions. Whether you’re just starting out financially or simply prefer a no-frills approach, this account offers the essentials without unnecessary costs.
  • Transparent fees: Unlike some accounts with hidden charges, the Classic Chequing Account has clearly outlined fees, allowing you to easily manage your banking expenses and avoid any unexpected surprises.
  • Easy to switch: Switching to a Classic Chequing Account is a smooth and hassle-free process. Our friendly team is happy to assist you every step of the way, ensuring a seamless transition to your new account.

The Classic Savings Account

Looking to grow your savings steadily over time? Look no further than the Classic Savings Account, designed for long-term savers who value simplicity and daily interest.

  • Earn interest every day: The Classic Savings Account allows you to watch your savings grow with daily interest accrual. This means your money starts working for you sooner, maximizing your potential return.
  • Simple fee structure: Just like our Classic Chequing Account, the Classic Savings Account prioritizes transparency. You’ll benefit from a straightforward fee structure, free of any monthly maintenance charges or hidden costs.
  • Perfect for long-term goals: Whether you’re saving for a down payment, a dream vacation, or simply building your emergency fund, the Classic Savings Account is a reliable partner for your long-term financial goals. The combination of daily interest and a no-frills approach allows your money to compound effectively over time.
  • Accessible yet secure: Enjoy the peace of mind that comes with knowing your funds are secure in a Luminus Financial account. At the same time, your savings remain easily accessible whenever you need them.

The Infinite Chequing Account

Supercharge your everyday banking with the Infinite Chequing Account, designed exclusively for active member-owners. This game-changing account empowers you to manage your finances with ease and maximize your benefits.

  • Free yourself from monthly fees: Ditch those recurring charges! We’ve eliminated monthly service fees for the Infinite Chequing Account, putting more money back in your pocket every month. Keep more of your hard-earned cash to spend on what matters most.
  • Peace of mind with built-in protection: The Infinite Chequing Account goes beyond simple transactions. Enjoy the security of overdraft protection, helping you avoid unexpected fees in case of minor shortfalls. Shop with confidence knowing you have buyer’s protection and extended warranties on your purchases made with your member debit card. These added perks safeguard you against unforeseen circumstances and ensure you get the most value out of your purchases.
  • A streamlined banking experience: Focus on what truly matters with the Infinite Chequing Account. Benefit from unlimited transactions, allowing you to bank freely without worrying about additional charges. This account is designed to simplify your financial life and empower you to take control of your money.

The Infinite Savings Account

Elevate your savings potential with the personal Infinite Savings Account or Infinite Savings Account for Business. This innovative account goes beyond the limitations of traditional savings options, empowering you to watch your money grow faster and achieve your financial goals sooner.

  • Amplify your growth: Experience the difference with industry-leading interest rates on your savings. The Infinite Savings Account offers significantly higher rates than traditional savings accounts, allowing your money to flourish at an accelerated pace.
  • Save without penalty: Forget about hidden charges and restrictive fees. Unlike some savings accounts that penalize you for depositing funds, the Infinite Savings Account welcomes your contributions freely. There are no deposit fees, so you can focus on consistently adding to your savings without any unwelcome surprises.
  • Your money, readily available: Enjoy the flexibility to access your funds whenever you need them. The Infinite Savings Account offers the perfect balance between accessibility and growth. You can make penalty-free withdrawals while still benefiting from a high-interest rate, empowering you to manage your finances and reach your savings goals.
  • Effortless account management: The Infinite Savings Account simplifies your savings journey. Our user-friendly online platform and mobile app allow you to easily track your progress, monitor your interest earned, and manage your account conveniently.

Frequently Asked Questions

Here is a selection of the most frequent questions we have received from member-owners. Please note that if your question is not answered here, we’re happy to add it to the list. Send us an email at inquiries@luminusfinancial.com and we’ll work to get you an answer right away.

Q: What will the fees be for my new account?
A:
While we are proud to offer products with fee-free transactions, there may be changes to the costs associated with your accounts after July 1, 2024. Please see our Fees page for details on the relevant fees associated with each account.

Q: What if I want to change to a different account.
A: We’re happy to help! If you would like to transition from your current account to a different account type, please contact us and we will be happy to support you. Please note that there may be different requirements, fees, and/or restrictions for the new account type.

Q: What will happen on July 1, 2024?
A: On July 1, 2024, we will be transitioning all members to a new online banking system and also transferring current accounts to their new account types. This transition will happen in the early hours of the day to try and minimize any disruptions to member accounts or transactions. However, if any issues arise, our teams will be standing by to ensure it is resolved quickly.

Keep checking back here for more FAQs added as we get feedback from our member-owners.

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