Skip to main content

Boost Interest Rate Offer

Meridian Business Banking Offers

Terms & Conditions

Meridian Business Advantage Plus Savings Account Interest Rate Offer

Terms & Conditions

General Terms

1.    Meridian Credit Union (“Meridian”) is offering a BAP bonus interest rate offer of 1.30% (the "Offer") for a limited time only available to Business Members who;

  1.     do not currently hold and have not previously held a Business Advantage Plus Savings Account within the previous 6 months (the “Eligible Account”); and 
  2.     open an Eligible Account within the Offer period of August 2, 2022, to October 7, 2022. 

2.    The Offer will apply to deposits made into the Eligible Account for 243 days (approximately 8 months) beginning on the date the Eligible Account is opened (the "Promotion Period") to a maximum Eligible Account balance of $2,000,000 per Member.  

3.    Only one Eligible Account is allowed per Member.  Once the Member’s Eligible Account qualifies for the Bonus Interest, subsequent BAP accounts opened by the Member during the Promotion Period will not earn the Bonus Interest rate. Subject to the Offer limitations, only amounts deposited into the Eligible Account during the Promotion Period will earn the Bonus Interest rate. 

Bonus Interest

4.    "Bonus Interest" rate is 1.30% for the Eligible Account. Members receive Bonus Interest on deposits to the Eligible Account during the Promotion Period.  Bonus Interest will be deposited to the Eligible Account on the 1st business day of the following month.  For example, Bonus interest earned during the month of July will be posted to the Eligible Account on the first business day of August.  Subject to the limits and qualifications outlined in these Terms and Conditions, Posted Rate and Bonus Interest is calculated on the closing daily balance and is paid monthly on deposits during the Promotion Period to the Eligible Account. Any change to the Posted Rate will result in a corresponding change to the Offer Rate. Bonus Interest and/or Posted Rates are annualized rates and, notwithstanding anything in this section, Meridian may change the Bonus Interest and/or Posted Rates at any time without prior notice.

5.    The Bonus Interest rate will end at the end of the 243 day Promotion Period. For example, if a Member opens an Eligible Account on August 2, 2022, the Bonus interest rate will be paid only until April 2, 2023 on the Eligible Account.

6.    After the 243 days (Promotion Period ends, all balances will earn interest at the Posted Rate payable on the Eligible Account.

7.    Interest is calculated daily and paid monthly for both the Posted Rate interest payments and the Bonus Interest payments. 


8.    If an amount greater than $2,000,000 is deposited into an Eligible Account during the Promotion Period (not including interest), the excess amount over $2,000,000 will earn the Posted Rate 

9.    The Offer cannot be combined with other promotional offers unless Meridian, at its sole discretion, defines otherwise.

10.    The Offer is not applicable to any other account types, including (but not limited to) chequing accounts, Advantage Savings Accounts (all plan types), or retail accounts.

11.    If Meridian is unable to run the Offer as planned for any reason, including infection by computer virus, bugs, tampering, unauthorized intervention, fraud, technical failures, or any other causes beyond the reasonable control of Meridian which corrupt or affect the administration, security or proper conduct of this Offer, Meridian reserves the right at its sole discretion to, without advance notice, terminate or suspend the Offer, in whole or in part, or modify it in any way.

12.    Meridian reserves the right at its absolute discretion to withdraw the Offer in whole or in part, or to vary, delete or add to any of these Terms and Conditions at any time and from time to time without notice at its absolute discretion. Meridian reserves the right to end the Offer earlier or to extend the Promotion Period further at its absolute discretion.

13.    Meridian reserves the right, at its sole discretion, to suspend, disqualify, limit or revoke this Offer to any Member it finds or believes to be manipulating or otherwise abusing the process, fairness, or integrity of the Offer.

14.    This Offer may be suspended, modified or withdrawn at any time without notice for any reason including, but not limited to, an error or mistake on behalf of Meridian.

15.    To the extent that these Terms and Conditions are inconsistent with any other communication, advertisement, or statement (a "Message") from Meridian, these Terms and Conditions will supersede all other Messages.

16.    You agree that you have read and understood these Terms and Conditions and agree to be bound by them. Any notice offered by us with respect to this Offer is deemed to be provided on the day it is posted on our website.

Meridian 9 Month GIC Offer                                

Terms & Conditions

Rate is subject to change without notice.

The minimum required investment is $100 up to a maximum $2,000,000 per Member. Applicable to Business Members only.

GIC is non-redeemable.

Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA).