Credit unions have discovered the power of the Internet. Here are two regional lenders offering selected rates on the net that are well below the market.
In Ontario…
Meridian Credit Union has an ultra-hot, 1-year mortgage promotion going.
It’s offering the “Better Than Market” 1-year mortgage at just 2.25%—about 1/2% below the nearest competitor.
The deal is available only by going direct through Meridian branches.
Meridian calls itself the largest credit union in Ontario, serving more than 214,000 members with total assets under administration of $4.6 billion. Meridian is based in St. Catherines, ON and Toronto.
In Winnipeg…
Cambrian Credit Union is offering a variable-rate mortgage at 2.49% (prime + 0.24%). That’s 0.36% or more below most other variables.
The deal is available only by going direct through Cambrian branches.
Cambrian Credit Union is Winnipeg’s largest credit union.
Last modified: April 29, 2014
Going thru direct means that you can’t access these rates via a broker? And can you get these rates even if you don’t live in the same province as the credit union?
Typically credit unions only lend within their own specific geographical region
Both lend in their own provinces only.
Hi Tyler,
Yes, going direct means you have to contact the lender directly.
Cheers,
-rob