About Lighthouse Credit Union
To become the financial institution of choice for the diverse community we serve.
To provide the community we serve with products tailored to their unique needs, and to earn their trust as an institution that measures its success by the positive impact it has on its community.
Our dedication to our members goes beyond just banking but addresses community intricacies such as a private school tuition, automated donations to Jewish charities, and summer costs, which are overlooked by other financial institutions such as Schedule I banks. We strive to provide feelings of ‘comfort’ and ‘home’ and are deeply committed to keeping our community together and will continue to seek our new ways to best serve our members. We’re proud to be able to donate 10% of profits towards the community, with the rest to be distributed amongst members.
The vision for Lighthouse is fueled by the unique financial requirements of the Jewish community. In August 2019 we issued a community support survey which determined there was a clear desire within the Greater Toronto Area (GTA) in joining a credit union that attends to the needs of the Toronto Jewish Community. Initiated by that strong interest.
Lighthouse seeks to earn your trust as an institution and will ensure that we will measure our success and positive impact on the community with full transparency. Guided by Jewish traditions and values, Lighthouse focuses on what is at the heart of our members’ lives — family, health, tradition, philanthropy, and community, and we look to fulfill this role as a partner and supporter.
What is a Credit Union?
Unlike banks, credit unions are owned by their customers, who are the members of the union. Because their purpose is to serve and benefit their members, credit unions are not profit driven. That means they focus on passing along profits to their members through better rates, more flexible and affordable borrowing programs, and other initiatives to support their community. Credit unions are regulated differently than banks, which gives them the flexibility to align their products and services to its members’ needs in ways that banks cannot.