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High Interest Savings Account Promotional Rate Terms and Conditions

High Interest Savings Account
Promotional Rate Terms and Conditions
  1. Offer: Meridian Credit Union Limited (“Meridian”) is offering a high interest savings account (“HISA”) promotional interest rate of 3.95%, which will be added to the posted interest rate, on Eligible Deposits made into Eligible Accounts by Eligible Members, from April 14, 2025 to June 30, 2025 (the “Offer”).
  2. Offer Period: The Offer is valid starting April 14, 2025, and until June 30, 2025 (the “Offer Period”). Meridian reserves the right to extend or shorten the Offer Period at its sole discretion.
  3. Eligibility Criteria:

a Eligible Accounts: The Offer is only available on the following account types:

  • HISA (non-registered)
  • Tax-Free Savings Account (“TFSA”) HISA
  • Registered Retirement Savings Plan (“RRSP”) HISA
  • Registered Retirement Income Fund (“RRIF”) HISA

    (Collectively referred to as the “Eligible Accounts”);

b Eligible Deposit: A deposit is only deemed eligible if the funds being deposited into the Eligible Account have not been deposited in any account type with Meridian within the last one hundred and eighty (180) days of opening the Eligible Account. For additional clarity, Eligible Deposits must be transferred to an Eligible Account from a financial institution that is not Meridian or Aviso Wealth;

c Eligible Member: is a Meridian Retail Banking Member (the “Eligible Member”). Meridian Business Banking Members are not eligible for this Offer;

d Open an Eligible Account during the Offer Period; and

e An Eligible Deposit must be made into the Eligible Account during the Offer Period.

  1. Total Promotional Rate: The total promotional interest rate is calculated by adding the promotional interest rate of 3.95% (“Promotional Rate”) to the Meridian Eligible Account posted interest rate, as displayed on Meridian’s website (“Posted Rate”) (collectively, the “Total Promotional Rate”). For example, Posted Rate of 0.85%, plus Promotional Rate of 3.95% is equal to the Total Promotional Rate of 4.80%. (Please note, this is only an example based on the Posted Rate as of April 14th, 2025).
  2. Promotional Period: The Offer is available to Eligible Members on Eligible Deposits made into the Eligible Account for one hundred and twenty-two (122) days (approximately 4 months) from the date the Eligible Account is opened. This means that the Promotional Rate would only be offered for a period of 122 days after the Eligible Account is opened.
  3. Application of Promotional Rate: Eligible Deposits will receive the Promotional Rate made to the Eligible Account during the Promotional Period to a maximum Eligible Account balance of $1,000,000.00. Subject to the limits and qualifications outlined in these Terms and Conditions, the Total Promotional Rate is calculated on the closing daily balance of the Eligible Account and is paid monthly. Any change to the Posted Rate will result in a corresponding change to the Total Promotional Rate. The Promotional Rate and Posted Rate are annualized rates and may change at any time without prior notice.

General Terms and Conditions

  1. All amounts are shown in Canadian dollars.
  2. The same Eligible Account type cannot have been held by the Eligible Member during the preceding 180 days from the date the Eligible Account is opened.
  3. The Offer will only apply to one (1) Eligible Account per Eligible Member during the Offer Period.
  4. After the Promotional Period ends, being 122 days after the opening of the Eligible Account, all balances held in the Eligible Account will earn interest at the Posted Rate only.
  5. The Promotional Rate will end at the end of the Promotional Period which is 122 days after the Eligible Account opening date. For example, if a Member opens an Eligible Account on April 14, 2025, the Promotional Rate will be paid only until August 14, 2025, to the Eligible Account.
  6. Additional terms and conditions apply to both the opening and operation of the Eligible Account at Meridian. Except as may be set out in the terms and conditions of this 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.
  7. By participating in this Offer, Members agree to comply with all applicable laws and regulations. Any attempt to manipulate or exploit the Offer will result in disqualification.
  8. All deposits made to an RRSP HISA and a TFSA HISA are subject to the limits imposed by the Canada Revenue Agency (CRA). The Member understands and acknowledges that it is their responsibility to know their own individual contribution limits.
  9. Subject to the imposed CRA limits on RRSP and TFSA HISAs, the Promotional Rate will be paid on Eligible Deposit balances in the Eligible Account, up to a maximum Eligible Deposit of $1,000,000.00 during the Promotional Period.
  10. If an amount greater than $1,000,000.00 is deposited into an Eligible Account during the Promotional Period (not including interest), the excess amount over $1,000,000.00 will be transferred to a separate, additional HISA, within the same registered contract number if applicable. The deposits in the additional HISA will earn interest at the Posted Rate and are not eligible to earn the Promotional Rate.
  11. This Offer cannot be combined with any other promotional offers unless Meridian, at its sole discretion, defines otherwise.
  12. If Meridian is unable to run this 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.
  13. Meridian reserves the right at its absolute discretion to withdraw this 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 earlier, or to extend, the Offer Period, at its absolute discretion.
  14. 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 this Offer.
  15. 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.
  16. 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.
  17. Meridian is not liable for any loss or damage arising from or in connection with this Offer, including but not limited to direct, indirect, or consequential losses.
  18. In consideration of this Offer provided by Meridian, the Member agrees through their participation in this Offer, to irrevocably and unconditionally release, discharge and forever hold harmless Meridian, its directors, officers, employees, agents, representatives, affiliates, successors and assigns (collectively, the “Released Parties”) from any and all claims, demands, actions, causes of action, suits, debts, dues, accounts, bonds, covenants, contracts, liabilities, losses, damages, costs, expenses, and compensation of any kind whatsoever (collectively “Claims”), whether known or unknown, which the Member, or any person claiming through or on behalf of the Member, now has, or may hereafter have, arising out of or in connection with this Offer or any associated transaction, service, or product provided by Meridian.
  19. By participating in this Offer, the Member agrees to indemnify, defend, and hold harmless the Released Parties from and against any and all Claims, including legal fees and expenses on a full indemnity basis, that may be brought against or incurred by any of the Released Parties as a result of or in connection with this Offer, any actions or omissions of the Member, or any breach by the Member of the terms and conditions governing this Offer. This indemnity shall survive the termination, completion or expiry of the Offer between Member and Meridian.
  20. Participation in this Offer is your acknowledgement that you have read these terms and conditions, and you agree to be bound by these terms and conditions.
  21. The Offer 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 Eligible Accounts.
  22. Notice of the Offer including these terms and conditions are deemed to be provided on the day it is posted to the Meridian website.
  23. For any questions or concerns regarding this Offer, please contact Meridian Contact Centre at 1-866-592-2226.

Published Date: April 14, 2025