Terms and Conditions

Meridian Credit Union Limited (“Meridian”) is offering a limited-time Business Advantage Plus (“BAP”) bonus interest rate offer of 1.50% (the “Offer”) to eligible business members who , who do not currently hold and have not held a Business Advantage Plus Savings Account in the previous six (6) months and who open a new Business Advantage Plus Savings Account (the “Eligible Account”) between July 6, 2026 and October 31, 2026 (the “Offer Period”); the Offer provides a 1.50% bonus interest rate (the “Bonus Interest Rate”), which is added to Meridian’s posted interest rate (the “Posted Interest Rate”) on balances held in the Eligible Account for a period of 184 days from the date the Eligible Account is opened (the “Bonus Interest Payout Period”), on balances up to a maximum of $5,000,000 per member, with interest calculated daily on the closing balance and paid monthly, after which the Bonus Interest Rate ends and the balance continues to earn interest at the Posted Interest Rate only, subject to the terms that only one Eligible Account per member qualifies for the Offer, additional accounts or balances above $5,000,000 will earn the Posted Interest Rate only, and the Offer is subject to all applicable limitations, exclusions, and Meridian’s rights as outlined in the full Terms and Conditions.

Eligibility

1. Meridian Credit Union Limited (“Meridian”) is offering a BAP bonus interest rate offer of 1.50% (the "Offer") for a limited time only available to Business Members who;

    a. Do not currently hold and have not previously held a Business Advantage Plus Savings Account within the previous 6 months (the “Eligible Account”); and

    b. Open an Eligible Account within the Offer period of July 6th 2026 to October 31st 2026.

    c. An account in good standing means the account is active, all payments and fees are up to date, and the account holder is complying with the terms of the agreement.

2. The Offer will apply to deposits made into the Eligible Account for 184 days (approximately 6 months). Beginning on the date the Eligible Account is opened (the "Bonus Interest Payout Period") to a maximum Eligible Account balance of $5,000,000 per Member.

3. Only one Eligible Account is allowed per Member. Once the Member’s Eligible Account qualifies for the Offer, subsequent BAP accounts opened by the Member during the Offer period will not earn the Bonus Interest Rate as defined below and revert back to the standard Business Advantage Savings Account rates as per Business banking account and service fees | Meridian. 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 1.50% for the Eligible Account (“Bonus Interest Rate”).

5. Members will receive the Bonus Interest Rate on balances to the Eligible Account during the Bonus Interest Payout Period. Subject to the limits and qualifications outlined in these Terms and Conditions, Meridian’s BAP posted interest rate is shown on Meridian’s website (the "Posted Interest Rate"). The Bonus Interest Rate is added to the Posted Interest Rate for a combined interest rate which is calculated on the closing daily balance and are paid monthly, as a one credit entry, during the Promotion Period to the Eligible Account. For example, a $50,000 balance earning a 1.50% posted interest rate plus a 2.00% bonus rate (3.50% total combined rate) would generate approximately $4.79 per day, paid as a single monthly interest credit of about $146.

6. Bonus Interest Rate and/or Posted Interest Rate are annualized rates. Meridian may change the Bonus Interest Rate and/or Posted Interest Rate at any time without prior notice.

7. The Bonus Interest Rate will end on the last day of the 184-day Bonus Interest Payout Period. For example, if a Member opens an Eligible Account on July 6th 2026, the Bonus Interest Rate will be paid only until January 6th, 2027, on the Eligible Account.

8. When the Bonus Interest Payout Period ends, all balances will continue earning interest, but only at the Posted Interest Rate payable on the Eligible Account.

Offer Limitations

9. If the balance in the Eligible Account exceeds $5,000,000 during the Bonus Interest Payout Period (not including interest), the excess amount over $5,000,000 will be transferred to a separate BAP. The funds in the second account will earn interest at the Posted Interest Rate only and it is not eligible to earn the Bonus Interest Rate.

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

11. The Offer is not applicable to any other account types, including (but not limited to) chequing accounts, Advantage savings accounts (all plan types), or personal member accounts.

12. 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.

13. 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 Offer Period further at its absolute discretion.

14. 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.

15. 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.

16. By participating in this Offer, all participants agree to comply with all applicable laws and regulations and these Terms and Conditions. Any attempt to manipulate or exploit the Offer will result in disqualification.

17. In consideration of this Offer provided by Meridian, the Member agrees through their participation in this Offer, to irrevocably and unconditionally release, discharge and forever hold harmless Meridian, its directors, officers, employees, agents, representatives, affiliates, successors and assigns (collectively, the “Released Parties”) from any and all claims, demands, actions, causes of action, suits, debts, dues, accounts, bonds, covenants, contracts, liabilities, losses, damages, costs, expenses, and compensation of any kind whatsoever (collectively “Claims”), whether known or unknown, which the Member, or any person claiming through or on behalf of the Member, now has, or may hereafter have, arising out of or in connection with this Offer or any associated transaction, service, or product provided by Meridian.

18. By participating in this Offer, the Member agrees to indemnify, defend, and hold harmless the Released Parties from and against any and all Claims, including legal fees and expenses on a full indemnity basis, that may be brought against or incurred by any of the Released Parties as a result of or in connection with this Offer, any actions or omissions of the Member, or any breach by the Member of the terms and conditions governing this Offer. This indemnity shall survive the termination, completion or expiry of the Offer between Member and Meridian.

19. Any dispute, controversy, or claim arising out of or relating to this Promotion, including any question regarding its existence, interpretation, validity, breach, or termination, shall be governed by the laws of the Province of Ontario and shall be resolved exclusively in the courts of Toronto, Ontario. By participating in this Promotion, the member irrevocably submits to the jurisdiction of such courts and waives any objection to the venue or jurisdiction of such courts. 

20. 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.

21. 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.

22. Personal information collected in connection with the Promotion will be used and disclosed in accordance with Meridian’s privacy practices and applicable law.

23. For any questions or concerns regarding this promotion, please contact [email protected] or review our website at Business Advantage Savings Account | Meridian

Published Date: July 6 2026