TORONTO—To mark Canada's 150th anniversary, Meridian Credit Union is rolling out a 15-month fixed mortgage at 1.50%.
"For many Canadians, homeownership is the great Canadian dream," says Bill Whyte, Meridian's SVP and chief member experience officer, in a statement. "This unique mortgage offer celebrates that Canadian dream by helping Ontarians achieve their home ownership goals sooner."
In addition to this mortgage offering, Meridian is also celebrating Canada's sesquicentennial with a special three-year term on its Canadian Diversified Index-linked GIC, providing members with a minimum return of 1.50% and up to a potential maximum return of 15%.
Meridian CU said it is also offering competitive mortgage rates and 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% 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% of their original payment plan each year.