BMO Bank of Montreal
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BMO Bank of Montreal

March 12, 2012 10:00 ET

BMO Opens New Branch in Southeast Edmonton-Open Seven Days a Week

- New BMO branch near the Mill Woods Town Centre represents a $1.7 million investment into the community

- Offering customers extended banking hours, including Saturdays and Sundays

- BMO's 2.99 per cent fixed low-rate mortgage offers a five-year shield against rising interest rates; maximum 25-year amortization reduces the mortgage balance faster

EDMONTON, ALBERTA--(Marketwire - March 12, 2012) - BMO Bank of Montreal today announced the opening of its new Mill Woods full-service banking branch in southeast Edmonton, at 5503 23rd Avenue. The new branch is one kilometre away from the previous Mill Woods location.

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

  • A free coin counter - a simple-to-use kiosk which counts your loose change;
  • Services provided in ten languages;
  • Access to commercial account and deposit services;
  • Total of four ATMs including a drive-thru ATM; and
  • Barrier-free access.

"We are excited to be opening our doors to our new location in the Mill Woods community," said Lyle Arnelien, Branch Manager, BMO Bank of Montreal. "We invite customers to come in and talk to us about their home financing needs. We're offering a 2.99 per cent interest rate on our popular 5-year fixed low-rate mortgage. This product provides an extra year of protection against rising interest rates while the maximum 25 amortization shortens the amount of time customers carry mortgage debt."

Mr. Arnelien added that BMO has introduced a 10-year fixed low-rate mortgage, which is modelled after the award-winning BMO 5-year fixed low-rate mortgage; it comes with a maximum 25 year amortization and an introductory fixed rate of 3.99 per cent. Both rates are available until March 28, 2012.

"Alberta's economy significantly outperformed the national average in 2011, with real GDP on track to grow 3.9 per cent. High oil prices are fuelling the energy sector; which, in turn, is driving strong labour market performance. Alberta should remain atop the growth leader board in the coming years," said Robert Kavcic, Economist, BMO Capital Markets.

In celebration of the branch opening, customers who make an appointment to meet with a Financial Services Manager at the Mill Woods branch between March 12 and May 31, 2012 to discuss their home financing options will have a chance to win $1,000.

In addition, customers who open a new BMO Kids Discounted Banking Plan and deposit $25, between March 1 and April 30, will receive another $25 from BMO to help kick-start their child's savings. For more information, please visit www.bmo.com/smartparentspromo.

BMO SmartSteps for Parents is part of BMO's ongoing commitment to Making Money Make Sense. Since 2009, BMO has introduced various tools to help Canadians stay on top of their personal finances, including BMO SmartSteps, BMO SmartSteps for Business, BMO SmartSteps for Students, BMO SmartSteps for Investing and BMO MoneyLogic.

BMO's Mill Woods branch extended hours of operation are:

  • 9:00 a.m. to 6:00 p.m. Monday to Wednesday;
  • 9:00 a.m. to 8:00 p.m. Thursday and Friday;
  • 9:00 a.m. to 4:00 p.m. Saturday; and
  • 12:00 p.m. to 4:00 p.m. Sunday.

The grand opening celebration will take place on May 5, 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 $538 billion as at January 31, 2012, and more than 47,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.

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