Terms and Conditions – Meridian 2024 Chequing and Member Referral Offer

The Member Referral Promotional Offer

The Meridian Credit Union Limited (“Meridian”) 2024 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 from May 9, 2024 until October 31, 2024 (the “Offer Period”). The Referral Promotion is available to all existing Meridian Members. A $50 cash bonus (“Cash Referral Bonus”) can be earned by each Member (the “Referring Member”) who refers a prospective Member ("Referred Friend”)  to Meridian who then fulfills the eligibility criteria described below. The following terms and conditions (“Terms and Conditions”) apply to the Referral Promotion.

ELIGIBILITY CRITERIA

The following eligibility criteria must be satisfied by both the Referring Member and the Referred Friend to earn the Cash Referral 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 opening account (the "Share").

2. Must provide Referred Friend with the information requested in the Promotion digital referral form (the “Referral Form”). Referral Form requires the following information from the Member: first name, last name, email, and phone number.

Referred Friend

1. Referred Friends 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 May 09, 2024.
• Purchase a Share.
• Open an eligible Meridian chequing account (eligible chequing packages under this promotion are as follows; Senior Everyday Chequing Package, Senior Unlimited Chequing Package, Essential Chequing Package, Everyday Chequing Package, Digital Chequing Package, Unlimited Chequing Package, and Student Chequing Package, are hereinafter referred to as “Account”).
• Fund the Account with a minimum of $40 within the first 60 days of opening (the “Deposit”).
• Set up a recurring monthly direct deposit of minimum $100/month from employer, the government, or your pension for at least three months. Qualifying direct deposits include payroll; pension direct deposits; Canada pension plan; old age security; disability payments; and governmental deposits such as employment insurance; Canada child benefit; Ontario trillium benefit; and veteran disability pension; or in the case of people who do not receive direct deposits, two recurring monthly bill payments of a minimum of $100 per payment, including car payments, mortgage payments, phone bill payments, utility bill payments and insurance payments for at least three months (the “Qualifying Transaction”). Meridian reserves the right to determine what is considered a Qualifying Transaction. See payout schedule for Qualifying Transaction details.

(collectively, the “Eligibility Criteria”)

LIMITATIONS

1. Referring Members can receive the Cash Referral Bonus for each Referred Friend who opens an “Account” and satisfies all of the Eligibility Criteria.

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

3. This is a limited time offer. The Terms and Conditions, including the overall availability of the Referral Promotion, are subject to the absolute discretion of Meridian and may be changed at any time by Meridian without further notice.

4. 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 in branch or on Meridian’s website.

5. Meridian is not responsible for incorrect or absent Referring Member information in the Referral Form. Meridian will attempt to obtain and/or clarify Member information to ensure that it is correct and can be validated to facilitate the Cash Referral Bonus payout.

6. Employees of Meridian are eligible to participate in the Referral Promotion up to a maximum of 5 Cash Referral Bonus payouts. Meridian employees are not limited to the number of referrals they can make, but Meridian will only payout a maximum of 5 Cash Referral Bonuses per employee.

7. By sharing the referral email and, or sharing the details of the Referral Promotion, the Referring Member consents to their personal information (full name, phone number, and email address) being shared with Meridian via the Referral Form.  The personal information provided in the Referral Form is used solely to verify the Referring Member’s existing Membership, and to execute the payout the Cash Referral Bonus.

CASH REFERRAL BONUS PAYOUT

1. The Cash Referral Bonus is awarded to the Referring Member on the following conditions:

• The Referred Friend satisfies the Eligibility Criteria.
• The Referred Friend opens an Account through the Offer page on Meridian’s website or makes it known that they would like to participate in the Offer when opening an Account in branch.
• The Referred Friend makes a Deposit.
• The Referred Friend’s Account must be in good standing until the Cash Referral Bonus is awarded;
• The Referred Friend sets up a Qualifying Deposit.
• Meridian can validate the Referring Member is an existing Member who meets the Eligibility Criteria.

2. After the Referred Friend meets the Eligibility Criteria, Meridian will deposit the Cash Referral Bonus into the Referring Member’s Account as per the payout schedule outlined below.

3. The Referring Member must accept the Cash Referral Bonus payments in the form that it is awarded and must be a Member at the time the Cash Referral Bonus is paid; no substitutes are permitted.

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

The 2024 New Chequing Account Promotional Offer

The New Chequing Account offer is available to all prospective Members (including, but not limited to, Referred Friends) 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") A $300 cash bonus (“Cash Bonus”) can be earned by each prospective Member who opens a new Meridian chequing account and meets 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 May 09, 2024.
• Purchase a Share. Open an eligible Meridian chequing account, (eligible chequing packages under this promotion are as follows; Senior Everyday Chequing Package, Senior Unlimited Chequing Package, Essential Chequing Package, Everyday Chequing Package, Digital Chequing Package, Unlimited Chequing Package, and Student Chequing Package, are hereinafter referred to as “Account”).
• Fund the Account with a minimum of $40 within the first 60 days of opening the Account (the “Deposit”).
• Set up a recurring monthly direct deposit of minimum $100/month from employer, the government, or your pension for at least three months. Qualifying Transaction include: payroll; pension direct deposits; Canada pension plan; old age security; disability payments, and governmental deposits such as employment insurance; Canada child benefit, Ontario trillium benefit; and veteran disability pension; or in the case of people who do not receive direct deposits, two recurring monthly bill payments of a minimum of $100 per payment, including car payments, mortgage payments, phone bill payments, utility bill payments and insurance payments for at least three months (the “Qualifying Transaction”). Meridian reserves the right to determine what is considered payroll. See payout schedule for qualifying deposit details.

(collectively, the “Eligibility Criteria”)

LIMITATIONS:

1. Except as may be set out in these Terms and Conditions, 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.

2. This is a limited time offer. The Terms and Conditions of the Offer, including the overall availability of the Offer, are subject to the absolute discretion of Meridian and may be changed at any time by Meridian without further notice. Meridian reserves the right to amend, withdraw or terminate the Offer at any time, without further notice. If Meridian amends the Terms and Conditions, Meridian will make available the updated Terms and Conditions in branch or on the Meridian website.

3. Redemption of the Cash Bonus by a Member who applied for the Offer is limited to one per person and may not be combined with any other cash incentive offer.

4. To be eligible for the Offer and Cash Bonus, new Members must satisfy the following requirements when opening their Account:

1. Identify in branch that they are opening a new chequing Account as part of the Offer; or open an eligible Account through the Offer page on Meridian’s website; and
2. Qualify for an Account through Meridian’s standard process which includes a qualification process that requires a credit check. Consent is obtained during Meridian’s account opening process through the Offer page, and/or in person in a branch.

CASH BONUS PAYOUT

1. After the Member meets all of the Eligibility Criteria, Meridian will deposit the Cash Bonus as per the payout schedule outlined below, into the Member’s Account. If the Account is not in good standing, the Cash Bonus will not be paid out. Payout is at Meridian’s sole discretion.

2. The Member must accept the Cash Bonus in the form that it is awarded and must be a Member of Meridian with an Account at the time the Cash Bonus is paid: no substitutes are permitted.

PAYOUT SCHEDULE

Cash Bonuses and Cash Referral Bonuses will be paid by Meridian on the last day of the month or the following business day if it falls on a weekend.