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Cashback Mortgage Plus Terms and Conditions

The Cashback Mortgage Plus Offer

Meridian Credit Union Limited (“Meridian”) is offering new and existing eligible Members a 0.30% cash back on the principal amount of an approved and funded on a fixed-rate Eligible Mortgage Product not less than $100,000 (“Qualifying Amount”), up to a maximum on the cash back value of $3,000, plus additional benefits including waived chequing fees for a select period (the “Offer”). The Offer applies to select 3- and 5-year fixed closed mortgage products, considered an Eligible Mortgage Product, of $100,000 or more on owner‑occupied properties, subject to conditions. Eligible Members may also qualify for an optional Wealth Offer, which provides a mortgage rate discount when transferring qualifying investment assets to Aviso Wealth.

  1. Offer Summary: The Offer extends to eligible Members 0.30% of their mortgage principal (up to $3,000, referred to as “Cash Back”) on approved mortgages of $100,000 or more. Additionally, if the Member has or takes a new Chequing Account package with Meridian, the Member may be eligible to receive a waiver of the monthly Digital Chequing Account package fee for six months. The Offer is available to new and existing Members, who meet the eligibility criteria outlined below during the Offer Period (set out below).
  2. Offer Period: The Offer is valid starting April 20, 2026, and ends September 30, 2026. Meridian reserves the right to extend or shorten the Offer Period at its sole discretion.
  3. Eligible Mortgage Products: The Offer is available on any of the following mortgage products in respect of any new home purchase, or refinance:
    1. 3 Year Fixed Closed Mortgage.
    2. 3 Year Fixed Closed High Ratio Mortgage.
    3. 5 Year Fixed Closed Mortgage.
    4. 5 Year Fixed Closed High Ratio Mortgage.

(the “Eligible Mortgage Product”).

  1. Eligibility Criteria: To be eligible for the Offer, the Member must:
    • Have or obtain a Meridian Membership Share.
    • Be a resident of Ontario, Canada.
    • Be of the age of majority in Ontario, Canada.
    • Make a mortgage application on such terms and conditions that are applicable for making a mortgage application and receive Meridian written mortgage approval, for an Eligible Mortgage Product with a minimum mortgage principal of $100,000 (“Eligible Mortgage Application”).
      • Eligible Mortgage Product must be funded within 120 days from the start of the Eligible Mortgage Application date.
      • Open, or hold an existing, Meridian Digital Chequing Account and set up the recurring pre-authorized mortgage payments to the Eligible Mortgage Product from the new Meridian Digital Chequing Account, prior to the funding date of the Eligible Mortgage Product.

 

  1. The property to be mortgaged must be owner-occupied. 
  2. Cash Back:

To calculate the eligible Cash Back amount, the Qualifying Amount for the Eligible Mortgage Product will receive a total of 0.30% Cash Back, to a maximum limit of $3,000.00.  

a. The Cash Back percentage (0.30%) is applied to the Qualifying Amount to determine the Cash Back the Member is eligible to receive. For example, if the Qualifying Amount for the mortgage is $100,000.00, the Member will receive $300.00 in Cash Back. If the Qualifying Amount is $1,000,000.00, the Cash Back will be $3,000.00. If the Qualifying Amount exceeds $1,000,000.00 any value over $1,000,000.00 will not qualify for the Cash Back. The Cash Back is capped at $3,000.00.

b. The Cash Back for the Offer will be deposited to the Meridian Digital Chequing Account, at the time the Eligible Mortgage Product is funded, following the signing of the Meridian Cashback Mortgage Plus Agreement. The Cash Back must be accepted as awarded and is not transferable or assignable. No substitutes are permitted.

c. If the Eligible Mortgage Product is closed or paid off in full before the completion of the selected term of the Eligible Mortgage Product, or if prepayments exceed the prepayment privileges defined in Meridian’s Mortgage Agreement, the Member will be required to repay a pro-rated portion of the Cash Back to Meridian as outlined in the Cashback Mortgage Plus Agreement, in addition to any applicable prepayment charges payable under the Meridian Mortgage Agreement.

  1.  Meridian Digital Chequing Account – Waived Package Fee:
    1. The Meridian Digital Chequing Account’s monthly package fee will be waived for six (6) or twelve (12) consecutive months from the Meridian Digital Chequing Account opening date (“No Fee Period”). A maximum of one (1) Meridian Digital Chequing Account monthly package fee will be waived per Eligible Mortgage Product.
    2. Members who meet the Offer Eligibility Criteria will be eligible for six (6) months No Fee Period.
    3. Members who obtain Creditor Group Insurance (explained below) coverage for the Eligible Mortgage Product, prior to the funding date, are eligible for an additional six (6) months No Fee Period, for a total of twelve (12) consecutive months.
    4. All other applicable service charges on the Meridian Digital Chequing Account will continue to apply. 

Once the No Fee Period ends, the standard monthly package fee for the Meridian Digital Chequing Account will be charged in accordance with the applicable Meridian rates and fees

 

Creditor Group Insurance: 

Creditor Group Mortgage Protection (GMP) is a monthly premium that helps safeguard your home in case of financial hardships as a result of conditions such as death, disability, critical illness or loss of employment.

This creditor group insurance coverage is optional and is underwritten by The Canada Life Assurance Company (Canada Life). 

 Additional Terms and Conditions apply to the Cashback Mortgage Plus Offer. For further information, please refer to the General Terms and Conditions described below.

 If you qualify for the Offer, you may also be interested in taking advantage of other exciting opportunities: the Cashback Mortgage Plus Wealth Offer, Meridian Visa*, and OnYourWay.

 General Terms and Conditions for the Cashback Mortgage Plus Offer

  1.  All amounts are shown in Canadian dollars
  2. This is a limited time promotion. The terms and conditions of this Offer, including the overall availability of the Offers, are subject to the absolute discretion of Meridian and may be changed by Meridian at any time without further notice. Meridian reserves the right at any time without prior notice and in its sole discretion, to add, alter or modify all or any of these terms and conditions or to replace the Offer, wholly or in part, with any other offer, whether similar to the Offer or not, or to withdraw the Offer altogether. Meridian reserves the right to suspend, disqualify, limit, or revoke the Offer to any Member at any time, at its sole discretion.
  3. The Offer is subject to all applicable Meridian terms and conditions, including but not limited to the standard mortgage approval requirements, on approved credit. Conditions are related to the approval and advancement of the mortgage (i.e. various precedent conditions and/or disbursement conditions for funding) and inquiries should be directed towards the associate submitting/working on your Eligible Mortgage Application. 
  4. Additional terms and conditions apply to both the opening and operation of the Meridian Digital Chequing Account. Except as may be set out in the terms and conditions of the Offer, all terms and conditions applicable to products and services held with Meridian are not amended by these terms and conditions and continue to apply during and after the Offer.
  5. Meridian reserves the right to end earlier or to extend the Offer Period further at its absolute discretion, without notice.
  6. To the extent that the 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 with respect to the Offer only.
  7. Meridian shall have the exclusive right to determine the amounts, if any, payable under this Offer.
  8. By participating in the Offer, Members agree to comply with all applicable laws and regulations. Any attempt to manipulate or exploit the Offer will result in disqualification.
  9. Meridian is not liable for any loss or damage arising from or in connection with the Offer, including but not limited to direct, indirect, or consequential losses.
  10. 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.  
  11. The Offer is intended for promotional purposes only and do not constitute financial or legal advice or an opinion related to the acquisition and suitability of any of the products offered herein.
  12. You agree that you have read and understood the terms and conditions and agree to be bound by them. Any notice offered by us with respect to the Offers is deemed to be provided on the day it is posted on the Meridian website.

For any questions or concerns regarding this promotion, please contact Meridian Contact Centre at 1-866-592-2226.

Publish Date: April 20, 2026

*Trademarks of Visa Intl., used under license