Meridian Offers Ontarians 18-Month Fixed Mortgage at 1.99%

TORONTO, March 6, 2017 /CNW/ - Meridian, Ontario's largest credit union, today announces it is offering an 18-month fixed mortgage at 1.99 per cent* – currently the best 18-month offer on the market today.

"Meridian strives to provide our Members with the best products and rates to help them better achieve their financial goals," said Bill Whyte, Meridian's SVP and Chief Member Experience Officer.  "Our attractive 18-month rate will help Ontarians achieve their homeownership goals sooner while saving money in interest."

In addition to offering competitive mortgage rates, Meridian provides one of the best repayment options on the market today. Meridian's 20/20 repayment program allows Members to pay down up to 20 per cent of the original principal balance per year without penalty and can be done at any time of the year without notice. Members can also increase their monthly payment up to 20 per cent of their original payment plan each year.

Meridian's mortgage specialists work closely with Members to help ensure they are well-informed about the financial aspects of home ownership, including prudent borrowing practices and home affordability guidelines.

*Calculated semi-annually, not in advance.  Assumes the typical scenario of no costs of borrowing apart from interest.

About Meridian
With over 70 years of banking history, Meridian is Ontario's largest credit union, helping to grow the lives of its more than a quarter of a million Members, including over 23,000 business Members. Meridian has $14 billion in assets under management and delivers a full range of financial services online, by phone, by mobile and through a network of 86 branches across Ontario, and commercial banking services in 10 locations. Meridian Members also have access to THE EXCHANGE® Network, with more than 3,300 surcharge-free ABMs across Canada and 500,000 ABMs in the United States. For more information, please visit: meridiancu.ca. 

SOURCE Meridian Credit Union

For further information: please contact: Diane Medeiros, Manager, Media and Stakeholder Relations, Meridian, Office: [phone] ext. 2667, Email: [e-mail]