Meridian introduces GIC with price matching

By Staff | September 19, 2019 | Last updated on September 19, 2019
1 min read
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Toronto-based Meridian Credit Union has announced the launch of its new “Raise the Rate” GIC, which allows investors to move into a higher interest rate during a GIC’s investment term.

The GICs are available in a three-year term at 2.6% and a five-year term at 2.7%. Investors are permitted to price-match once over the life of the three-year product and twice over the life of the five-year version.

“We created the ‘Raise the Rate’ for investors who may be hesitant to lock into a longer-term investment vehicle, particularly in an uncertain interest rate environment,” Wanita Fonseka, Meridian’s vice-president, retail member experience, said in a statement.

“It gives investors choice, flexibility and peace of mind knowing they’re obtaining a great rate for their GIC now, with the ability to potentially increase that rate over its life term,” she added. staff


The staff of have been covering news for financial advisors since 1998.