Investment Shares help strengthen the capital base, or financial foundation, of Luminus Financial. The funds will help Luminus Financial Services and Credit Union exceed financial capital regulations and provide Luminus Financial with the capital necessary to invest in new services and technology.

Investment Shares may not be redeemed within the first five years after they are issued. After that time, only 10% of the total shares issued can be redeemed annually, and a waiting list will be available for members to be added to. However, precedent goes to estate accounts and any RRSPs that must be converted to RRIFs. 

Yes. By law, Luminus Financial is only permitted to redeem 10% of its total Investment Shares outstanding at the end of the previous fiscal year. 

In order of priority, redemptions will be made according to the following reasons: 

• Death 

• Expulsion from membership 

• Converting from an RRSP to a RRIF 

• All other requests are on a first-come, first-served basis 

Yes. To ensure stability of the Investment Share portfolio, each year a limited number of Luminus Investment Shares come available for purchase from other members who have indicated that they wish to sell their shares. This can happen at any point during the year.

Luminus Financial will try to accommodate these types of requests by matching members who want to sell their shares with those interested in purchasing them; however, we cannot guarantee that there will always be members looking to purchase shares. The transfer request must also be approved by the Board of Directors, and the member purchasing these cannot exceed the $150,000 limit. 

If you would like to sell your Investment Shares or be added to the list of potential buyers, please contact one of our Member Service Representatives at 1-877-782-7639 or email us at inquiries@luminusfinancial.com. You can also add yourself to the list at any time during the year and will be notified when Investment Shares come available. 

Over the past five years, Investment Shareholders have received an average return of 3.30% for their shares. The dividend rate is determined each year by the Board of Directors and can vary from year to year based on the earnings of the credit union. 

By default, dividends are paid in the form of interest into your chequing account, savings account, or appropriate variable RRSP. 

Dividends are declared at the Annual General Meeting and are typically paid after the Annual General Meeting. 

Investment Shareholders with a minimum of $1,000 in shares are eligible to take advantage of our Member-Owner Rewards (MOR) program. This unique program gives you access to preferred investment rates, member-only perks, and special discounts on loans including: 

• Investment bonuses of up to 0.25%

• Special discounted rates on new loans and services 

• An average 3.30% dividend on your Investment Shares each year 

• Waived membership dues on your primary account

† Member-Owner Rewards Program Terms and Conditions apply.

A copy of the Offering Statement must be received and reviewed by all prospective purchasers. This FAQ is not an offering statement. Dividends on the investment shares are not guaranteed. The principal of and returns on investment shares are not insured by the Deposit Insurance Corporation of Ontario.