Luminus Financial offers strike relief to Ontario college faculty

TORONTO, Nov. 22, 2017 (GLOBE NEWSWIRE) -- Luminus Financial has stepped in to ease the financial strain on Ontario college faculty affected by the recent strike.

Luminus is inviting faculty to take advantage of their No Payment Loan, with no payments until March 2018. This is in addition to its usual strike policy of offering existing members an interest-only loan of up to $5,000. They’re also offering a capped interest rate exclusively for affected faculty.

“We recognize that going five weeks or more without a paycheque is not something most people are financially prepared for,” said George De La Rosa, CEO of Luminus Financial.

“Faculty are the backbone of the college experience, and in these challenging circumstances, we want to do what we can to ease their financial strain and ensure they aren't worrying about how they are going to pay their household expenses while they work to finish the semester.”

The strike, which kept colleges closed from mid-October until now, was the longest college strike in Ontario history.

Faculty interested in a No Payment Loan can apply in-branch at 1 Yonge Street, or online at luminusfinancial.com.

About Luminus Financial

Luminus Financial, founded in 1951, provides clearly better banking solutions to over 4,000 member-owners across Southern Ontario. In 2015 Luminus opened the Financial Hub at 1 Yonge Street, where member-owners have access to a full range of financial resources and services outside of the credit union’s standard product and service offerings, including foreign currency exchange and wealth management services through a range of partner-providers. To find out more, visit luminusfinancial.com.

Media Contact:

George De La Rosa | CEO
gdelarosa@luminusfinancial.com
416.366.5534 Ext. 227