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Boost Interest Rate Promotion Terms and Conditions

General Terms

  1. Introduction: These terms and conditions (“Terms and Conditions”) govern the Boost Interest Rate Promotion (“Promotion”) offered by Meridian Credit Union Limited (“Meridian”) on its High Interest Savings Account (“HISA”). By participating in the Promotion, you agree to these Terms and Conditions.
  2. Offer: Meridian is offering a HISA Bonus Interest Rate Offer boost of 2.95% on top of its posted rate at that time. The "Offer" is for a limited time only available to non-business Members onboarded via the Meridian Affinity Partnership Program Offer.
  3. Bonus Interest: The bonus interest rate is 2.95% for the Eligible Account(s) (as defined in section 7.1.) and defined as the “Bonus Interest Rate”. Bonus Interest is added to Meridian’s HISA posted rate of interest as shown on Meridian’s website ("Posted Interest Rate") to calculate the total amount of interest payable under this Offer. For example, Posted Interest Rate of 1.85% on HISA + Bonus Interest Rate of 2.95% = the Offer interest rate of 4.80% (example uses the Posted Interest Rate current as of July 31, 2024). Eligible Members (as defined in Section 5) receive the Bonus Interest Rate on deposits to the Eligible Account during the Promotion Period. Subject to the limits and qualifications outlined in these Terms and Conditions, the Posted Interest Rate and the Bonus Interest Rate 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 Interest Rate will result in a corresponding change to the overall Offer interest rate. The Bonus Interest Rate and Posted Interest Rate are annualized rates and may change at any time without prior notice.
  4. The Promotion is valid starting July 31, 2024, and is valid as an Offer for as long as it is still a part of the Affinity Partnership Program Offer and displayed on the Program Offer Page. Meridian reserves the right to extend or shorten the Promotion Period at its sole discretion. 
  5. Eligibility: The Offer is applicable to Members onboarded via the Meridian Affinity Partnership Program. For Offer details, visit: Meridiancu.ca/Affinity
  6. Limitations on Offer:
  1. This Offer is limited and only applies to the first $200,000 deposited into an Eligible Account per Eligible Member
  2. Offer is applicable on Eligible Accounts held by the Eligible Member up to maximum cumulative total of $200,000
  3. If an amount greater than $200,000 is deposited into an Eligible Account during the Promotion Period (not including interest), the excess amount over $200,000 will be transferred to a separate, additional HISA account, within the same registered contract number. The funds in the second account will earn interest at the Posted Interest Rate and are not eligible to earn the Bonus Interest Rate.

Other Terms

  1. The Offer is applicable to deposits made during the Promotion Period to any of the following: non- registered HISA; and registered Meridian HISA Eligible Accounts, including TFSA, RRSP or RRIF, collectively referred to as "Eligible Account" where the Eligible Member is the Account Holder. The Offer is not applicable to any other account types, including (but not limited to) chequing accounts, Advantage Savings Accounts (all plan types), Youth Advantage Savings Account or Business Advantage Plus Savings Accounts.
  2. The Bonus Interest shall only be paid up to the first $200,000 of the balance or balances of a Member’s Eligible Account or Accounts for 90 days commencing the day after the Member opens the Eligible Account or Accounts. The Bonus Interest can be applied across multiple Eligible Accounts but only to a maximum cumulative total of $200,000 per Eligible Member. After the 90 day Offer Period ends, all balances within the Eligible Account will earn interest at the Posted Rate payable on the Eligible Account.
  3. The Bonus Interest Rate will end on the 90th day after the Offer Period commences, calculated from the day that the Eligible Account is opened. For example, if a Member opens an Eligible Account on August 01, 2024, the Bonus interest rate will be paid only until October 30, 2024 on the Eligible Account. After the offer period, all balances will earn interest at the Posted Rate payable on the Eligible Account.
  4. Interest is calculated daily and paid monthly for both the Posted Interest Rate payments and the Bonus Interest Rate payments.
  5. This Offer can be combined with one (1) Add-On Meridian Affinity Partnership Program Offer for eligible Members. Each Meridian Affinity Partnership Program Offer can only be chosen once. For eligible promotional offers visit: Meridiancu.ca/Affinity
  6. 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.
  7. 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.
  8. 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.
  9. 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.
  10. 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.
  11. 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.
  12. Any account opened for the purposes of this promotion are subject to the terms and conditions of the HISA. In the event of any conflict between these terms and conditions and the standard account terms and conditions, these terms and conditions will prevail during the promotional period. 13. This Offer is only valid for the time in which the Eligible Member’s employer is a participating Member of the Meridian Affinity Partnership Program.