Vancouver, B.C., June 29, 2022 – Central 1 is pleased to announce their newest Ontario member — Lighthouse Credit Union based out of Toronto, effective June 18, 2022.
Newly formed Lighthouse Credit Union was created to serve the Greater Toronto Area’s Jewish community with a focus on making home ownership in Jewish neighbourhoods more accessible through competitive residential mortgages, everyday banking services and support to enable financial literacy and community philanthropy.
“Our main purpose at Lighthouse is to be a financial institution that understands the unique needs of the Toronto Jewish Community and serve them in a meaningful way,” said Michel Cubric, CEO, Lighthouse Credit Union. “Working with Central 1 gives us access to many services, systems and networks that will bring a lot of value to our members.”
“Lighthouse Credit Union is a shining example of the deeply impactful ways credit unions are set up to serve their members and communities,” said Sheila Vokey, Central 1’s President and CEO. “Central 1 exists to enable credit unions like Lighthouse to offer relevant, sustainable and affordable products and services that their members need. It’s an honour to play a role in bringing these kinds of services to life for Lighthouse members, especially in these early stages of their journey.”
In March 2022, Lighthouse Credit Union received official approval from the Financial Services Regulatory Authority of Ontario (FSRA) to become a credit union — the first new credit union in Ontario more than a decade.
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About Central 1
Central 1 cooperatively empowers credit unions and other financial institutions who deliver banking choice to Canadians. With assets of $12.8 billion as at March 31, 2022, Central 1 provides critical services at scale to enable a thriving credit union system. We do this by collaborating with our clients, developing strategies, products, and services to support the financial well-being of their more than 5 million diverse customers in communities across Canada. For more information, visit www.central1.com.
About Lighthouse CU
Lighthouse Credit Union (Lighthouse CU) launched in 2022 with the goal of serving the diverse needs of the Jewish community in the Greater Toronto Area. Lighthouse CU offers a range of financial service products including everyday banking and mortgages. Lighthouse CU’s senior executive team has deep expertise in the lending market and is overseen by a Board composed of experienced business founders and leaders.
Michel Cubric, CEO
Lighthouse Credit Union
T 416-477-5285, ext. 101
Alan Caro, COO and CRO
Lighthouse Credit Union
T 416-477-5285, ext. 102