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ATB’s new GIC now available to investors! y$ `+ O. e4 e$ b P
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+ m5 w) h- q, ^5 _edmontonjournal.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.' u [7 T3 y6 y9 R/ a7 ^" p$ j6 L; h/ H
' d5 _; B4 H/ w* h. Z- V/ kThe 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.
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The 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 $7 billion, ATB said at the time.6 |$ E" z h+ S( ~
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.5 D% A5 ]8 ^' N6 u. @8 Y# l2 u) T# b
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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.1 Y; t- t% p4 G3 j7 x3 W' b, |
" @- b. x* K. u# Z“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”/ f! |; S0 P) ?" |* l
7 t, w3 s' ]: F$ f: sThe GICs will be available for a limited time only. |
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