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ATB’s new GIC now available to investors
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3 v' i" d& M$ @' t0 h7 v' tedmontonjournal.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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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.$ w2 u$ E5 J* o3 e- S
. l+ T/ V8 C8 D0 n7 {# \8 uThe 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 $7 billion, ATB said at the time.
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8 A1 s' d. [/ G/ m/ IFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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6 w$ C+ X0 w: _6 A“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.
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, d* m7 K T: s& R2 u, r8 _“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”
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3 z% u3 q, {& R5 o( g: Q4 mThe GICs will be available for a limited time only. |
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