Meridian lowers five-year fixed mortgage rate to 2.89 per cent

TORONTO, Feb. 17, 2015 /CNW/ - Ontario's largest credit union, Meridian, today announced it has lowered its five-year fixed closed mortgage rate to 2.89 per cent APR.*

"Meridian's mission is to help grow the financial lives of our Members," said Bill Whyte, Chief Member Services Officer for Meridian.  "This rate – currently the most competitive rate on the market compared to the big five banks—allows us the opportunity to deliver on that promise." 

Meridian's mortgage specialists work closely with Members to keep them well-informed of all the financial aspects of home ownership, ensuring their mortgage payments fit into their overall budget and financial plan.  

"With this rate change, Meridian will be helping Ontarians pay off their mortgages sooner while potentially saving thousands in interest," added Whyte.   

*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 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

Diane Medeiros, Manager, Media and Stakeholder Relations, Office: [phone] ext. 2667,Email: [email protected]