TORONTO, April 9, 2015 /CNW/ - Meridian, Ontario's largest credit union, today announces it is offering an 18-month fixed mortgage at 1.49 per cent -- the lowest known posted mortgage rate in Canadian history.
"With this mortgage offering, we will be helping Ontarians to pay off their mortgages sooner while saving money in interest costs," said Bill Whyte, Chief Member Services Officer for Meridian. "This is just another example of Meridian having our Members' backs."
Meridian's mortgage specialists work with Members to educate them about the financial requirements associated with home ownership, while ensuring their mortgage payments fit into their overall financial plan.
"As a responsible lender, Meridian recognizes there is no cookie-cutter approach to selecting a mortgage solution. In addition to this 18-month mortgage offering, Meridian offers a full suite of mortgage options including fixed, variable, mortgages for business owners and construction mortgage solutions," added Whyte.
Not only does Meridian offer competitive mortgage rates, it also provides one of the best repayment options on the market today. Meridian's 20/20 prepayment program allows Members the option of paying down up to 20 per cent of the original principal balance without penalty each year, either through lump sum payments or increased monthly payments. These two repayment options can be combined provided they do not exceed 20 per cent of the original principal balance.
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 21,000 business Members. Meridian has $11 billion in assets under management and delivers a full range of financial services online, by phone, by mobile and through a network of 67 branches and 7 business centres. Meridian Members also have access to THE EXCHANGE® Network, with more than 2,500 no-fee ABMs across Canada and 360,000 ABMs in the United States. For more information, please visit: meridiancu.ca.
SOURCE Meridian Credit Union
For further information: Diane Medeiros, Manager, Media and Stakeholder Relations, Office: (416) 597-4444 ext. 2667, Email: [email protected]