We want to hear from you!

To our member-owners,

Today, it is with great joy and enthusiasm that the Luminus Financial Board of Directors and Executive Team would like to announce the proposed purchase of the assets of Airline Financial and the assumption of its liabilities. In this letter, we aim to shed light on the benefits, address any concerns, and walk you through what the proposed transaction means for you and the Luminus Financial community.

In addition to the new and improved offerings for Airline Financial members, the proposed transaction brings with it a stronger workforce to help grow our organization through more staff, expertise, and resources. We will also be moving our head office to the existing Airline Financial branch at 5401 Eglinton Ave W. Suite 110 Etobicoke, ON. This growth in size and expansion to a new location will allow us to serve our member-owners more effectively and efficiently, ensuring that the quality of service you have come to know and love will only continue to improve.

It is important to note that all Airline Financial employees affected by the proposed merger will be offered positions at Luminus Financial. We recognize that the success of both Luminus Financial and Airline Financial is a result of dedicated teams that have been providing exceptional service to member-owners over the years. Keeping the staff of both organizations will not only ensure continuity for our member-owners, but also maintain the high level of expertise and commitment our member-owners have grown accustomed to.

The proposed transaction is an exciting endeavor, and we are committed to addressing any questions from our member-owners and community partners. We have provided an initial list of answers for some of the most commonly asked questions below. We will continue to update this list as the transaction progresses and we hope that it helps make the transition as seamless as possible for all affected parties.

On April 27, all member-owners are invited to vote on the proposed merger by attending our Annual General Meeting to be held at 5:30 PM at London Gate Pub, 5395 Eglinton Avenue West. Refreshments will be served. Please RSVP your intent to attend by calling 416-366-5534 or by emailing inquiries@luminusfinancial.com.

---

Answering Your Questions

Luminus Financial vision is “to enrich the lives of our members-owners and community.”

Luminus Financial mission is “to provide everyday banking for individuals, families, and businesses in Ontario with an expertise in under-banked markets.”

The following are some questions and answers for our members during this exciting time of merging with Airline Financial.

Why this transaction?

If this transaction is approved our credit union would place in the top 100 credit unions of Ontario and would manage close to $220 million in assets, serve close to 6,300 members, employ close to 25 full time staff and service members from three (3) service locations, including our corporate office.

Will the staff at my Credit Union change?

All Airline Financial staff will have positions within Luminus Financial, and, with access to the other branch and call centre, member-owners will now have access to more employees to serve you.

Will there be another branch?

Yes, and Luminus Financial is excited about this opportunity to expand its branch network as it will have two (2) service locations:

• Etobicoke Branch at 5401 Eglinton Ave W., Suite 110
• Weston Branch at 2011 Lawrence Avenue West

Where will head office be?

Luminus Financial’s head office will be located at Airline Financial’s existing office at 5401 Eglinton Ave W., Suite 110.

What will be the name of the credit union?

The legal name of the organization will continue to be Luminus Financial Services & Credit Union Limited; while the trade name used will continue to be Luminus Financial.

Will there be any change in the services offered?

No, there will not be any changes to the services offered for Luminus Financial member-owners, but Airline Financial members will gain access to additional services such as mortgages for investment properties and business accounts. Luminus Financial also has a more advanced mobile banking offering than Airline Financial, and, as a larger entity, will be able to adopt new technologies faster.

Will there be board representation for Airline Financial?

Luminus Financial will present to its members for confirmation revised bylaws which require a director election policy and procedure containing the qualification requirements to serve on the Luminus Financial board of directors. That new policy will permit two directors from Airline Financial to qualify to be candidates for election to the Luminus board. Luminus will then present those two directors from Airline Financial, who have been chosen by the existing board of Airline Financial, as candidates for election to the board of directors of Luminus Financial for 3-year terms.