Terms and Conditions – Meridian Member Referral Promotion Offer

THE MEMBER REFERRAL PROMOTIONAL OFFER 

The Meridian Credit Union Limited (“Meridian”) Member Referral Offer (the “Referral Promotion”) is an incentive-based promotion to reward existing Members for referring friends and family. The Referral Promotion is available on an ongoing basis. The Referral Promotion is available to any existing Meridian Member (“Referring Member”) who refers a friend or family member (“Referred Friend”). A $100 cash bonus (“Referring Member Cash Bonus”) can be earned by each Referring Member who refers a prospective Member to Meridian who then fulfills the eligibility criteria described below. A $50 cash bonus (“Referred Friend Cash Bonus”) can be earned by each Referred Friend who opens a new Meridian chequing account and meets the eligibility criteria outlined below. The following terms and conditions apply to the Referral Promotion (“Terms and Conditions”). 

TERMS AND CONDITIONS  

Eligibility Criteria   

The following eligibility criteria must be satisfied by the Referring Member to earn the Referring Member Cash Bonus:  

Referring Member 

1. Must have a Meridian Membership share. Meridian Members are required to hold a $1 Membership share, which is fulfilled at time of account opening (the "Share"). 

2. Must be 18 years of age, or older, at the time of participation.

3. Must share their unique referral code (the “Referral Code”) generated in Meridian’s Online Banking platform or Mobile Banking app with a Referred Friend by any method, including, for example by email or SMS. 

The following eligibility criteria must be satisfied by the Referred Friend to earn the Referred Friend Cash Bonus:  

Referred Friend 

1. Referred Friends must meet all the following criteria: 

• Reside in Ontario, Canada. 
• Be 18 years of age, or older, at the time of participation.  
• Have not held a Share as of December 31, 2024. 
• Purchase a Meridian Share and open an eligible Meridian chequing account. Meridian Members are required to hold a $1 Membership share, which is fulfilled at time of account opening.
• Enter the Referral Code shared by the Referring Member during the Account opening process. Open and qualify¹ for an eligible Meridian chequing account using Meridian’ s Online Banking platform or Mobile Banking app. An eligible chequing account under this promotion is included in any of the following packages:  Senior Everyday Chequing Package, Senior Unlimited Chequing Package, Essential Chequing Package, Everyday Chequing Package, Digital Chequing Package, Unlimited Chequing Package, and/or Student Chequing Package (an “Account”).
• Fund the Account with a minimum of $50 (fifty dollars CAD) within 30 days of Account opening (the “Deposit”).
• Maintain a balance of at least $50 in the Account following the deduction of all applicable account fees (the “Balance”), until the Validation Date as specified in the payout schedule noted below.  

(collectively, the “Referral Promotion Eligibility Criteria”) 

General Terms 

1. Referring Members can receive the Referring Member Cash Bonus for each Referred Friend who satisfies all of the Referral Promotion Eligibility Criteria. 

2. Redemption of the Referred Friend Cash Bonus by a Referred Friend who applied for the Member Referral Promotion is limited to one per person. 

3. Except as may be set out in these General Terms, all terms and conditions applicable to products and services held with Meridian are not amended by these General Terms and continue to apply during and after the Referral Promotion. 

4. The General Terms, including the overall availability of the Referral Promotion, may be changed by Meridian, in their absolute discretion, without further notice.  

5. Meridian reserves the right to amend, withdraw or terminate the Referral Promotion at any time, without further notice. If Meridian amends the Terms and Conditions, Meridian will make available the updated Terms and Conditions on Meridian’s website.  

6. Meridian is not responsible for incorrect, blank or missing Referral Codes entered during the Account opening process. Meridian may obtain and/or clarify Referring Member information for correctness and validation in order to facilitate the Referring Member Cash Bonus and/or Referred Friend Cash Bonus payout.  

7. Employees of Meridian are eligible to participate in the Referral Promotion up to a maximum of 10 Referring Member Cash Bonus payouts. Meridian employees are not limited to the number of referrals they can make, but Meridian will only payout a maximum of 10 Referring Member Cash Bonuses per employee. 

8. By participating in this Referral Promotion, all participants agree to comply with all applicable laws and regulations. Any attempt to manipulate or exploit the Referral Promotion will result in disqualification. 

9. Meridian is not liable for any loss or damage arising from or in connection with this Referral Promotion, 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. This Referral Promotion is intended for promotional purposes only and do not constitute financial or legal advice or an opinion related to the acquisition, suitability or use of any of the Accounts. 

 CASH BONUS PAYOUT 

1. The Referring Member Cash Bonus is awarded to the Referring Member and the Referred Friend Cash Bonus is awarded to the Referred Friend on the following conditions: 

• The Referring Friend and the Referred Friend satisfy the Referral Promotion Eligibility Criteria.  

2. The Referring Member must accept the Referring Member Cash Bonus payment in the form that it is awarded and must be a Member of Meridian at the time the Referring Member Cash Bonus is paid; no substitutes are permitted. Payout is at Meridian’s sole discretion.

3. The Referring Member Cash Bonus payout will be made to only one Referring Member for each new eligible Referred Friend, that meets the Referral Promotion Eligibility Criteria. 

4. The Referred Friend must accept the Referred Friend Cash Bonus payment in the form that it is awarded and must be a Member of Meridian with an Account at the time the Referred Friend Cash Bonus is paid; no substitutes are permitted. If the Account is not in good standing, the Referred Friend Cash Bonus will not be paid out. 

5. All payouts remain at the sole discretion of Meridian.

PAYOUT SCHEDULE 

For Accounts opened within a given month, Meridian will validate the Balance in the Account three to four months after Account opening (the “Validation Date”), and the Referring Member Cash Bonus and Referred Friend Cash Bonus will be paid out one month after the Validation Date. For example, if a Referred Friend opens an Account and deposits $50 during the month of September, Meridian will validate that the Referred Friend has held a $50 balance in the Account for 3 months on December 31st and will pay out both the Referring Member Cash Bonus and Referred Friend Cash Bonus on January 31st. Cash Bonuses will be paid out by Meridian on the last day of the month or the following business day if the last day  falls on a weekend. A sample payout schedule can be found below. 

For any questions or concerns regarding the Referral Promotion, please contact 1-866-592-2226.

¹Qualification for an Eligible Chequing Account includes going through Meridian’s standard process which requires a credit check.