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ATB’s new GIC now available to investors8 g8 N7 h& j$ M5 E0 z1 D
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6 T- a$ _; n% }" Bedmontonjournal.comSeptember 1, 2009Comments (1)
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EDMONTON — Tuesday marked the first day investors could purchase a new GIC that ATB Financial says will help fellow Albertans and businesses hurting due to tight credit markets.
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7 j1 a/ J7 s/ Z& ^The ATB Growth Note will be a five-year guaranteed investment certificate with a 4.25-per-cent interest rate, announced the provincial Crown corporation and Edmonton-based financial institution on Tuesday.& s' s0 o" R) L
. z' Z. m! ~+ X: ~7 \ Z4 e( jThe initiative was first revealed in July as part of a commitment by ATB to increase its lending capacity to small business to offset the effects of tight credit markets by as much as $15 billion. Changes to ATB’s notional capital requirements will increase its lending capacity by about $8 billion and the investment deposit product would raise another $7 billion, ATB said at the time.
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/ j3 u* L% V9 g" V3 C# DFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses." r' ]. F4 x S
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“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.& {- C' l# Z1 t! ^
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“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”! @0 z$ E; _2 P
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The GICs will be available for a limited time only. |
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