MISSISSAUGA, ONTARIO — (Marketwire) — 04/14/12 — BMO Bank of Montreal invites customers and members of the community to celebrate the grand opening of its new full-service branch in Mississauga at 6085 Creditview Road, located at the intersection of Creditview Road and Britannia Road West, on Saturday, April 14, 2012. The new branch represents an investment of $1.1 million into the community.
The new open-concept branch is designed to create a welcoming, comfortable banking experience and offers a variety of financial services and conveniences including:
Mississauga is Canada-s sixth most populous city, with growth projections of 11 per cent over the next five years. “Mississauga continues to see strong housing activity, with sales running near the 10-year average after a very strong post-recession surge, and average prices holding at record levels in recent months,” said Robert Kavcic, Economist, BMO Capital Markets. “A diverse labour market and steady population growth continue to support economic activity in the city.”
“With the spring home buying season underway, we encourage new and existing members of the community to come in and speak with our team about their home financing needs,” said Christopher Holgate, Branch Manager, BMO Bank of Montreal. “BMO offers a new 10-year mortgage with a maximum 25-year amortization, which is modeled after our award-winning 5-year maximum 25-year amortization mortgage.”
Mr. Holgate added that choosing a shorter amortization allows Canadians to build equity sooner and save on interest costs. For example, on a $400,000 mortgage at a five per cent interest rate, moving from a 30-year to a 25-year amortization can save upwards of $70,000 in interest over the life of the mortgage.
In celebration of the grand opening, customers who use BMO-s new Coin Counter at the Britannia & Creditview branch and deposit the funds into a new Premium Rate Savings Account before May 31, 2012 will receive a matched deposit from BMO of up to $25.
In addition, customers who open a new BMO Kids Discounted Banking Plan and deposit $25 before April 30th, 2012 will receive another $25 from BMO to help kick-start their child-s savings. For more information, please visit .
BMO SmartSteps for Parents is part of BMO-s ongoing commitment to Making Money Make Sense. Since 2009, BMO has introduced various tools to help Canadians stay on top of their personal finances, including BMO SmartSteps, BMO SmartSteps for Business, BMO SmartSteps for Students, BMO SmartSteps for Investing and BMO MoneyLogic.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $538 billion as at January 31, 2012, and more than 47,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
Contacts:
Media Contact:
Jessica Park, Toronto
(416) 867-3996
Veronica Bart, Toronto
(416) 867-3996
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Twitter: @BMOmedia