Meridian lowers five-year fixed mortgage rate to 2.95 per cent

TORONTO, April 1, 2014 /CNW/ - Meridian, Ontario's largest credit union, today announced that it has lowered its five-year fixed mortgage rate to 2.95 per cent APR* -- currently the best five-year fixed mortgage rate on the market today compared to the big five major banks. 

"Purchasing a home is one of the biggest financial decisions a family can make," said Bill Whyte, Chief Member Services Officer for Meridian.  "This rate shows Meridian's commitment to having our Members' backs by helping them own their homes sooner."

Meridian's mortgage specialists work with Members to ensure they are well-informed about the financial implications associated with home ownership, including smart borrowing practices and home affordability guidelines.

*Calculated semi-annually, not in advance. Assumes the typical scenario of no coats 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 19,000 business Members. Meridian has $10 billion in assets under management and delivers a full range of financial services online, by phone, by mobile and through a network of 64 branches and 7 business centres. Meridian Members also have access to THE EXCHANGE® Network, with more than 2,400 no-fee ABMs across Canada and 340,000 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]