Luminus Financial (legally Luminus Financial Services & Credit Union Limited) is a Toronto-based credit union founded in 1951 as Starnews Credit Union by Toronto Star employees. It became an open-bond credit union in 2010 and rebranded as Luminus Financial in 2011. It offers everyday banking, loans, mortgages, credit cards and registered investments to individuals and businesses across Ontario.
Access: Geographically restricted · Open common bond
Eligible provinces: Ontario
How to join: Become a member online or at a branch by opening an account and purchasing membership shares.
Notes: Ontario residents only — opt-in coverage outside the BC-accessible catalog. Listed for cross-province price comparison only; NOT available to BC residents.; Ontario residents only — opt-in coverage outside the BC-accessible catalog
Deposit protection: Financial Services Regulatory Authority of Ontario
prudential regulator + administers the Deposit Insurance Reserve Fund: unlimited on registered accounts, $250,000 non-registered; absorbed DICO in 2019
| GIC ladder | Best rate |
|---|---|
| 1-year GIC | 2.75% |
| 2-year GIC | 3.30% |
| 3-year GIC | 3.60% |
| 4-year GIC | 3.50% |
| 5-year GIC | 3.80% |
Base ladder rates. Institution may have more term rates below.
Best historical posted GIC rate by term
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
| Term | Registration | Redeemable | Compounding | Interest paid | Min–Max deposit | Rate |
|---|---|---|---|---|---|---|
| Short-term — under 1 year | ||||||
| 30 – 59 days | Non-reg | Y | — | At maturity | $500+ | 1.70% |
| 60 – 89 days | Non-reg | Y | — | At maturity | $500+ | 1.75% |
| 90 – 179 days | Non-reg | Y | — | At maturity | $500+ | 1.80% |
| 6 months | Non-reg | N | — | At maturity | $500+ | 2.50% |
| 180 – 269 days | Non-reg | Y | — | At maturity | $500+ | 2.10% |
| 270 – 364 days | Non-reg | Y | — | At maturity | $500+ | 2.25% |
| Long-term — 1 year + | ||||||
| 1 year | Non-reg | N | — | At maturity | $500+ | 2.75% |
| 18 months | Non-reg | N | — | At maturity | $500+ | 2.90% |
| 18 months | Non-reg | Y | — | At maturity | $500+ | 2.60% |
| 2 years | Non-reg | N | — | At maturity | $500+ | 3.30% |
| 3 years | Non-reg | N | — | At maturity | $500+ | 3.60% |
| 3 years | Non-reg | N | — | At maturity | $500+ | 3.45% |
| 4 years | Non-reg | N | — | At maturity | $500 – $250k | 3.50% |
| 5 years | Non-reg | N | — | At maturity | $500+ | 3.80% |
| 5 years | Non-reg | N | — | At maturity | $500+ | 3.60% |
No rates match these filters.
| Type | Product | Calculated | Paid | Min. balance | Rate |
|---|---|---|---|---|---|
| Savings | |||||
| Savings | Classic Savings Account | — | — | — | 0.05% |
| Savings | Infinite Savings Account | — | — | — | 1.50% |
| Chequing | |||||
| Chequing | Classic Chequing Account ($10,001 and over) | — | — | $10,001 | 0.05% |
| RRSP | |||||
| RRSP | RRSP Variable | — | — | $0 | 0.05% |
| RRSP | RRSP Variable | — | — | $5,001 | 0.15% |
| RRSP | RRSP Variable | — | — | $25,001 | 0.35% |
| TFSA | |||||
| TFSA | Tax Free Savings Account (TFSA) | — | — | — | 1.50% |
No rates match these filters.
| Term | Type | Open / closed | Insured | Posted rate |
|---|---|---|---|---|
| 1-year | Fixed | Open | No | 6.00% |
| 1-year | Fixed | Closed | No | 5.54% |
| 2-year | Fixed | Closed | No | 5.49% |
| 3-year | Fixed | Closed | No | 4.59% |
| 3-year | Fixed | Closed | No | 5.30% |
| 4-year | Fixed | Closed | No | 5.44% |
| 5-year | Fixed | Closed | No | 4.19% |
| 5-year | Fixed | Closed | No | 5.59% |
| 7-year | Fixed | Closed | No | 5.99% |
| 1-year | Fixed · Co-op / co-ownership | Open | No | 6.10% |
| 1-year | Fixed · Co-op / co-ownership | Closed | No | 6.09% |
| 2-year | Fixed · Co-op / co-ownership | Closed | No | 5.94% |
| 3-year | Fixed · Co-op / co-ownership | Closed | No | 4.84% |
| 4-year | Fixed · Co-op / co-ownership | Closed | No | 5.79% |
| 5-year | Fixed · Co-op / co-ownership | Closed | No | 4.99% |
| 7-year | Fixed · Co-op / co-ownership | Closed | No | 6.09% |
No mortgage rates match these filters.
| Product | Posted rate |
|---|---|
| Co-Op Home Equity Line of Credit | 6.10% |
| Home Equity Line of Credit | 4.95% |
Rates change without notice. Get rate alerts from Ratehunter and you'll be the first to know when Luminus Financial — or anyone else — posts a better rate.
Get rate alertsBank or credit union, wire or transfer service, TFSA before RRSP: Luminus Financial's CEO on the first financial decisions newcomers make, and the savings-rate gap most of them never see.
Read more →Toronto's co-op and co-ownership buildings often sell below comparable condos — and financing, not the homes themselves, is the reason. Luminus Financial's CEO on how this overlooked corner of the market works.
Read more →Industry Voices articles are written by people at the institution, not by Ratehunter; contributors are invited, are not paid, and do not pay to appear. They never affect the rates or rankings on this page — those are generated from our data pipeline. About the program →
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