We present K-band imaging for 15 of the Canadian Network for Observational Cosmology ( CNOC1 ) clusters . The extensive spectroscopic dataset available for these clusters allows us to determine the cluster K-band luminosity function and density profile without the need for statistical background subtraction . The luminosity density and number density profiles can be described by NFW models with concentration parameters of c _ { l } = 4.28 \pm 0.70 and c _ { g } = 4.13 \pm 0.57 respectively . Comparing these to the dynamical mass analysis of the same clusters shows that the galaxy luminosity and number density profiles are similar to the dark matter profile , and are not less concentrated like in local clusters . The luminosity functions show that the evolution of K ^ { * } over the redshift range 0.2 < z < 0.5 is consistent with a scenario where the majority of stars in cluster galaxies form at high-redshift ( z _ { f } > 1.5 ) and evolve passively thereafter . The best-fit for the faint-end slope of the luminosity function is \alpha = -0.84 \pm 0.08 , which indicates that it does not evolve between z = 0 and z = 0.3 . Using Principal Component Analysis of the spectra we classify cluster galaxies as either star-forming/recently-star-forming ( EM+BAL ) or non-starforming ( ELL ) and compute their respective luminosity functions . The faint-end slope of the ELL luminosity function is much shallower than for the EM+BAL galaxies at z = 0.3 , and suggests the number of faint ELL galaxies in clusters decreases by a factor of \sim 3 from z = 0 to z = 0.3 . The redshift evolution of K ^ { * } for both EM+BAL and ELL types is consistent with a passively evolving stellar population formed at high-redshift . Passive evolution in both classes , as well as the total cluster luminosity function , demonstrates that the bulk of the stellar population in all bright cluster galaxies is formed at high-redshift and subsequent transformations in morphology/color/spectral-type have little effect on the total stellar mass .