OTTAWA, April 23, 2019 /CNW/ -The Royal Canadian Legion and HomeEquity Bank are pleased to announce a new partnership that gives Legion members an additional way to finance their retirement with a CHIP Reverse Mortgage®.
"We are happy to join HomeEquity Bank to offer Legion members an option to help support their retirement and make life more comfortable," says Thomas D. Irvine, Royal Canadian Legion Dominion President.
Legion members who are 55 plus may access up to 55 percent of the value of their home, tax-free, without having to pay it back until they choose to move or sell. This can be a smart and comprehensive solution to planning for retirement.
"We believe in supporting our Canadian Veterans who selflessly served. Enabling Canadians to live the retirement they worked hard for and deserve is part of our core values at HomeEquity Bank, which is why we are very excited about this partnership. We look forward to providing Legion members with the opportunity to retire the way they want and in the home they love," says HomeEquity Bank President and CEO Steven Ranson.
Legion members can now receive a special offer on HomeEquity Bank's product offerings. The CHIP Reverse Mortgage is a loan secured against the value of a home, but unlike a conventional mortgage, it does not require regular mortgage payments. Instead, the loan is only repaid when owners decide to move or sell the home.
HomeEquity Bank is Canada's only bank dedicated solely to providing Canadian homeowners 55 plus with the opportunity to enjoy their retirement without compromising where and how they live.
The partnership will be officially announced to Legion members in the May/June issue of the Legion Magazine.
ABOUT The Royal Canadian Legion
The Royal Canadian Legion is committed to making a difference in the lives of Veterans and their families, providing essential services in communities, and remembering the men and women who sacrificed for our country. With 260,000 members in 1,400 branches, The Royal Canadian Legion reaches across our vast country. For more information, visit https://www.legion.ca.
ABOUT HomeEquity Bank.
HomeEquity Bank is a Schedule 1 Canadian Bank offering the CHIP Reverse Mortgage solution. The company was founded over 30 years ago as an annuity-based solution addressing the financial needs of Canadians who want to access the equity of their top asset – their home. HomeEquity Bank is committed to empowering Canadians age 55 plus to live the retirement they deserve, in the home they love. For more information, visit https://www.chip.ca.