Canadian Home Income Plan Corporation (CHIP) today announced that Laurentian Bank of Canada is latest addition to its growing partner referral network.

The Quebec-based banking institution has chosen CHIP as its provider to meet the diverse retirement needs of senior customers over 60 years of age.

CHIP’s home equity lending to seniors enables access of up to 40% of a home’s value in tax-free cash with no income, credit or medical qualifications.

The new partnership with Laurentian will further CHIP’s reach to seniors through the bank’s branch network in specific market segments.

“Our new partnership with Canadian Home Income Plan will enable us to provide clients who face financial challenges during retirement with a viable option that supplements their income and allows them to enjoy their golden years,” says Stephane Langlois, assistant vp, retail financial services, Laurentian Bank of Canada.

“This new agreement with Laurentian Bank is a very important one for us as it further strengthens our already comprehensive referral network,” says Steven Ranson, president and CEO of CHIP.