BMO Bank of Montreal
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BMO Bank of Montreal

June 04, 2012 11:00 ET

BMO Bank of Montreal Opens New Lynnwood Branch in Edmonton

- New BMO branch represents a $1.3 million investment into the community

- Offering customers extended banking hours, including Saturdays

- 'Making Money Make Sense' in five different languages

EDMONTON, ALBERTA--(Marketwire - June 4, 2012) - BMO Bank of Montreal today announced the reopening of its newly relocated Lynnwood full-service banking branch in Edmonton at 8916 149th Street.

The new open-concept branch offers customers extended banking hours, including Saturdays, and is designed to provide a great banking experience through a variety of financial services and conveniences, including:

  • Services provided in five languages;
  • Access to commercial account and deposit services;
  • Total of two ATMs; and
  • Barrier-free access.

"We are thrilled to be opening the doors to our new location," said Lee Ann MacDonald, Branch Manager, BMO Bank of Montreal. "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. MacDonald 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 significantly outperformed the national average in 2011, as rising oil production fuelled 5.2 per cent real GDP growth," said Robert Kavcic, Economist, BMO Capital Markets. "Alberta should remain atop the leaderboard this year, with growth running more than a full percentage point above the national average at 3.4 per cent."

Customers who open a new BMO Kids Discounted Banking Plan and deposit $25, between June 4 and July 31, will receive another $25 from BMO to help kick-start their child's savings.

For more information about BMO SmartSteps for Parents, please visit www.bmo.com/smartparents.

BMO's newly relocated Lynnwood branch extended hours of operation are:

  • 9:00 a.m. to 5:00 p.m. Monday to Wednesday;
  • 9:00 a.m. to 8:00 p.m. Thursday and Friday; and
  • 9:00 a.m. to 4:00 p.m. Saturday.

The grand opening celebration will take place on August 25, 2012.

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 $525 billion as at April 30, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.

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