CALGARY, ALBERTA--(Marketwire -04/30/12)- Editors note: There is one photo associated with this press release.
BMO Bank of Montreal today announced the reopening of its new Chinook full-service banking branch in south Calgary, at 65th Avenue and Macleod Trail South, only a block away from the previous location.
The new branch offers customers extended banking hours seven days a week. The larger branch features more office space and is designed to provide a great banking experience through a variety of financial services and conveniences, including:
-- A free coin counter - a simple-to-use kiosk which counts your loose change; -- Services provided in seven languages; -- Access to commercial account and deposit services; -- Total of three ATMs; and -- Barrier-free access.
"We are excited to be opening our doors to our new location across from Chinook Centre," said Teri Savoie-Pollard, Branch Manager, BMO Bank of Montreal. "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. 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."
Ms. Savoie-Pollard 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 5 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.
"Alberta's economy should remain near atop the growth leaderboard this year, with growth running more than a full percentage point above the national average at 3.4 per cent. Average housing prices are still relatively stable (increase of 2.6 per cent year over year in March), but sales are moving higher (increase of 12.8 per cent year over year), and could soon spur renewed upward pressure on prices," said Robert Kavcic, Economist, BMO Capital Markets.
Residents in the area will have received a promotion at their home announcing the branch opening. Anyone who opens a new BMO Kids Discounted Banking Plan and deposits $25, between May 14 and June 30, will receive another $25 from BMO to help kick-start their child's savings. For more information, please visit www.bmo.com/smartparentspromo.
BMO's Chinook branch extended hours of operation, which commence May 14th, and which now include Saturdays and Sundays, are:
-- 9:00 a.m. to 6:00 p.m. Monday to Wednesday; -- 9:00 a.m. to 8:00 p.m. Thursday and Friday; -- 9:00 a.m. to 4:30 p.m. Saturday; and -- 12:00 p.m. to 4:00 p.m. Sunday.
The branch's grand opening will take place on July 14, 2012 to coincide with the Calgary Stampede and BMO's sponsorship, as the official bank of the Stampede, during the 100th anniversary celebrations.
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.
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