Meridian: New Member- 6.00% 1-Year Non-Redeemable GIC Offer - Terms and Conditions
The New Member 1-Year Non-Redeemable GIC Promotional Offer
The New Member 1-Year Non-Redeemable GIC offer is available to all prospective Members who do not have an active Meridian Membership share (Meridian Members are required to hold a $1 Membership share, which is fulfilled at time of opening account (the "Share") Meridian Credit Union is offering a 1-year Non-Redeemable GIC Rate Offer of 6.00% (the "Offer") for a limited time only available to Retail Members who meet the eligibility criteria outlined below (the “Offer”). The following terms and conditions (“Terms and Conditions”) apply to the Offer.
ELIGIBILITY CRITERIA OF THE OFFER
The following criteria must be satisfied by the new Member to qualify for the Offer.
New Member
1. New Members must meet all the following criteria:
- Reside in Ontario, Canada
- Be the age of majority in the province in which they reside
- Have not held a Share as of June 19, 2024
- Purchase a $1 Share
- Meridian Members who are Retail Members
- Purchase a 1 Year Non-Redeemable GIC in an eligible Registered Plan or Non-Registered plan from June 19, 2024 to August 7, 2024, with a minimum GIC purchase of $100
- The Offer is open to individual Memberships, and individual registered accounts
- Qualifying Accounts can be (a) registered retirement savings plan accounts; (b) spousal registered retirement savings plan accounts; (c) registered retirement income fund; (d) tax free savings account; (e) first home savings account
- Registered deposits transferred from an external institution must be initiated no later than August 7th, 2024. The deposits must be received by Meridian no later than 30 days from “Transfer-In Date”, which is specified as the specific date a transfer was initiated
collectively, the Eligibility Criteria
General Terms
1. Meridian Credit Union is offering a 1-year Non-Redeemable GIC Rate Offer of 6.00% for a limited time only available to Retail Members.
2. This offer may not be combined with any other offer, and a maximum eligible account balance of $1,000,000 per Member.
3. Meridian Credit Union reserves the right at any time without prior notice and in its sole discretion, to add, alter, modify all or any of these terms and conditions or to replace this offer, wholly or in part, with any other offer, whether similar to this offer or not, or to withdraw this offer altogether. Meridian reserves the right 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.
4. All deposits to Registered Plans are subject to the limits imposed by the Canada Revenue Agency (CRA). The Eligible Member is fully responsible for monitoring their individual contribution limits and ensuring any and all deposits fall within these set CRA limits. The Eligible Member further agrees to at all times indemnify and hold Meridian harmless in respect of any such penalties or charges imposed upon the Eligible Member as a result of these imposed limits.
Non-Redeemable GIC:
5. GIC interest rates expressed are annual interest rates and current as of date of publishing. Rates are subject to change without notice. Interest is calculated and accrued daily. Interest is paid at maturity unless otherwise specified. The minimum required investment is $100. Applicable to Retail Members only.
6. Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA).