Shining a light on financial inclusion

Ontario’s first new credit union in more than a decade, Lighthouse Credit Union aims to help the Jewish community.

You don’t have to be Jewish to join Lighthouse Credit Union, the first new credit union to be approved in Ontario in more than a decade.

“We will not turn anyone away,” says Michel Cubric, CEO of the CU, which opened its doors—online for now—on June 27. The new credit union is aiming its beam toward the Jewish community, but everyone is welcome to become a member and use its services, he says.

While Lighthouse CU is initially providing virtual banking, it plans to open a physical branch in the Lawrence Ave. W. and Bathurst St. area of Toronto. Based on feasibility studies, Lighthouse CU expects to attract more than 20,000 members in the Greater Toronto Area.

Lighthouse CU was started because people in the Jewish community in Canada have needs that are both wide-ranging and unique. The name is designed to appeal to both aspects, Cubric says.

 

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