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ATB’s new GIC now available to investors" W, t0 `/ g7 L8 ?& g: _
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e2 ?' S. P- }& |4 Z* eedmontonjournal.comSeptember 1, 2009Comments (1) K3 s! A' [! L* f5 P) J- \
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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.' b! ^" K* E1 Y* T
0 b& w9 T5 I. N8 ~* z8 O$ PThe 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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2 V5 A; \6 w3 R, u7 ^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 $7 billion, ATB said at the time.
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0 p# ?1 Z* W: n" O* aFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.5 V) c6 P8 y( }
5 a; [2 L t- f5 x4 j2 w“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.$ H7 I8 h! g( R) B
; D( N( ^ [ i- Q- ?- \“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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The GICs will be available for a limited time only. |
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