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Manulife Bank of Canada challenges homeowners to try the Manulife One flexible mortgage account Manulife One can save Canadians significant time and money on their mortgage and simplify day-to-day banking . . . and Manulife Bank stands behind that claim Waterloo - Manulife Bank of Canada is challenging Canadians to try the Manulife One flexible mortgage account for one year and, if consumers are not convinced that they’ve found a better way to handle day-to-day finances and save interest costs, the bank will cover up to $500 of expenses* to return them to their previous method of banking. Manulife One is the only Canadian flexible mortgage account, designed after similar accounts originally created in Australia, where more than one-third of all new mortgages are flexible accounts. A concept that’s also growing in the U.K., the flexible mortgage account has gained widespread consumer interest in Canada since its introduction here by Manulife Financial in October 1999. “We think most Canadians aren’t aware that there is a better and more efficient way of managing their debt,” notes David Dobbin, Mortgage Product and Marketing Director, Manulife Bank of Canada. “We hope to challenge this traditional thinking to help them realize that there is a truly unique alternative that can save them time, money and effort.” Instead of a separate mortgage, chequing, and savings accounts, Manulife One allows consumers to manage their finances in an integrated, convenient manner through a single chequing and borrowing account. Integrated spring campaign The latest Manulife One challenge to consumers is one component of an integrated Spring promotional effort, which includes a national public relations campaign and newspaper inserts. Manulife One is an all-in-one account and Canadians who have tried it, love it. In an industry where studies have shown 65 per cent of mortgage holders would not recommend their financial institution to others, Manulife One customers have an impressive satisfaction rating beyond 95 per cent. The public relations effort, handled jointly by MB Communications of Burlington and Manulife Financial, is designed to increase consumer and trade awareness of the Manulife One product. A recent omnibus survey by Thompson Lightstone found 41 per cent of Canadians surveyed said they were aware of Manulife One. Along with the focus on public relations, a national newspaper insert campaign involving more than one million inserts (handled jointly by Manulife Financial and Brighthouse Communications Management of Waterloo) is taking place late in May. Consumers are invited to see how much they could save by going to Manulife One’s Web site www.manulifeone.com and clicking on “Calculator”, or by calling 1-877-626-8111. About Manulife Financial Manulife Financial is a leading Canadian-based financial services group operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection products and wealth management services. Funds under management by Manulife Financial were Cdn$146.7 billion as at March 31, 2002. Manulife Financial established Manulife Bank in 1993 as the first federally regulated bank to be opened by a life insurance company following Canada’s financial reform legislation of 1992. Manulife Bank provides innovative deposit and loan products to help individuals make the most of their financial plan. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com. -30 - *See contest details at www.manulifeone.com For more information or to arrange media interviews contact:
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