Investing

When you picture your retirement, what do you see? Your dreams could be big or small, but the important thing is that they’re personal and important to you. At Luminus Financial, we can help you save for a comfortable retirement. We’re a great place to start if you’re new to investing, or looking to build, diversify and protect your existing investments.

Retirement Savings Products

At Luminus Financial, we offer a selection of products to meet your retirement savings needs. Our experts can help you select the products that are right for you.

  • Investment Savings Account (ISA) – An ISA is a secure, flexible account to put your funds while you’re deciding how to invest them. You can earn interest on your money and you have the flexibility to move it whenever you choose. And, best of all, no fees on deposits! Your ISA can also hold your investment portfolio, as it’s eligible for RRSP and Tax Free Savings Account contribution limits. Read more.
  • Investment Shares (Class A, Series 1) – Great news! In the last five years, Luminus’ Class A, Series 1 Investment Shares have earned over 16% return since being sold in 2010. Each year members can redeem up to 10% of the total shares sold – for 2016 the value available is $125,000. Members may apply to redeem their shares generally on a first-come, first served basis; however we advise you to consult your investment shares offering statement for more details.
  • Investment Shares (Class A, Series 2) - Due to the success of our investment shares, we issued a limited number of Class A, Series 2 Investment Shares in 2015 that will give our member-owners a return of approximately 4% each year on their investment! This offering period has now ended, however, shares may still be acquired with the help of our Member Relations Officer. If you are interested to learn more, please give us a call at 1.877.782.7639 and we will be happy to assist you. A copy of our investment shares offering statement can be downloaded here, or you can click here to view a list of frequently asked questions about this product.
  • Retirement Income Fund (RRIF) – After age 71, you can convert your RRSP to a retirement income option such as a Registered Retirement Income Fund (RRIF), Certain Annuity to Age 90 or Life Annuity. You can continue to invest in your RRIF, just like an RRSP, while earning tax-deferred interest on the balance. Based on a minimum requirement, you can choose the amount you want to withdraw each year as taxed income. Read more.
  • Registered Retirement Savings Plan (RRSP) – A government product designed to help you save for retirement. This product offers excellent tax savings advantages. Read more.
  • RRSP Loan – Borrow money with an RRSP loan and invest that money in an RRSP. You’ll earn interest, save for retirement and get tax savings, all at the same time. Read more.
  • Tax Free Savings Account (TFSA) – This tax-free account is intended to encourage people to save for their retirement. Using after-tax dollars (i.e. your take-home money after deductions), you can invest up to $6,500 per year in a TFSA account. TFSAs are allowed to grow tax-free and are available in a variety of different types to suit your needs. Read more.

What would make you happy in your retirement? Book your appointment today to find out more.

Investment Savings Account

Earn better interest rate than a standard savings account.

Deposits at no charge - in branch, by mail, electronic transfer, payroll deduction, or direct deposit. To access your funds simply transfer them to your chequing or savings account online.

Features included

Call us at 416.366.5534 or 1.877.782.7639.

Your Investments Are Secure!

For registered products including, LIRA, LIF, RRSP, RRIF, RESP and TFSA:

Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). At Luminus Financial Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits in all registered accounts with Ontario Credit Unions have unlimited deposit insurance coverage through the Financial Services Regulatory Authority (FSRA). 

For other eligible deposits:

Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA). At Luminus Financial Credit Union, eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) with Ontario Credit Unions are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA).