The Federal Government has made changes to the parameters for high ratio mortgages. The 2 big changes that may affect our members include the following:
-Maximum amortization to be reduced from 30 years to 25 years
-Maximum refinance reduced from 85% to 80% LTV (Loan To Value)ratio
Energy CU Members may want to consider refinancing their Mortgages prior to July 9th to take advantage of the additional 5% equity, before these new changes come into effect. If you have any questions please do not hesitate to give our lenders a call and you can take advantage of our Mortgage Special 5 yr Fixed at 3.29% APR. Call today at 416-542-2522.
Please be advised that The Energy Credit Union Limited will be closed on Monday, July 2, 2012. We will reopen again on Tuesday, July 3, 2012.
TECU would like to thank everyone who took the time to complete our online survey. This sessions survey was won by Tania Medwynter! Tania won a $75.00 Bon Apetit gift card. Don’t forget to fill out our next online survey for your chance to win!
Please be advised that our Southlake Branch will be closed on Monday June 4th for a schedualed hospital holiday. We will re-open again on Tuesday June 5th, 2012. If you have any questions, our Head Office and Service Centre branches will be open for business as usual from 8:30 – 3:00 Monday to Friday.