Meridian Offers One-Year Fixed Mortgage at 1.69%

TORONTO, Feb. 2, 2016 /CNW/ - Meridian, Ontario's largest credit union, today announced it is offering Ontarians the lowest posted fixed mortgage rate on the market today at 1.69 per cent for a one year term. 

"Meridian is going against the trend set by banks and lenders of raising their fixed mortgage rates," says Bill Whyte, Chief Member Services Officer for Meridian.  "As a Member-owned financial institution, we are able to take advantage of the current bond and lending environment and pass those savings onto our Members."

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

"In addition to this attractive one-year fixed  mortgage offering, Meridian offers a full suite of mortgage options including fixed, variable, mortgages for business owners and construction mortgage solutions," added Whyte.  "As we are quickly approaching the busy spring home buying season, this is the perfect time for people to evaluate their home buying options by getting a pre-approval now."

Meridian also 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 your original payment plan each year.

*Rate is subject to change without notice and offers may be withdrawn or extended without notice. Refer to our website for current residential mortgage posted rates. Mortgage must fund by April 30, 2016.

About Meridian
With over 70 years of banking history, Meridian is Ontario's largest credit union, helping to grow the lives of more than a quarter of a million Members, including over 19,000 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 74 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]