To qualify for this promotion, new members will be required to open a Member Share Account. Offers may change without notice at any time. The promotional rate of 2.99% is available to eligible new and existing members who take up the offer of a Registered Retirement Savings Plan (RRSP) or Tax-Free Savings Account (TFSA) loan (“Eligible Account”) as the primary owner between January 1, 2024, and February 29, 2024 (“Promotional Period”). The promotional rate will be applied for a 12-month (“Promotional Period”) from the date that the loan is opened.
The “Eligible Account” must be invested into a Motor City Community Credit Union (MCCCU) term deposit for 16-months at the rate of 5.25% (“Bonus Interest rate”), or a registered investment offering through Motor City Community Credit Union Wealth Management. The Bonus Interest Rate will be applied for a 16-month period from the date that the term deposit account is opened. Bonus Interest Rate is annualized (subject to certain exceptions) and are calculated daily, non-compounded and paid annually. Interest rates are annual unless otherwise stated and subject to change at any time without notice. The Offer and interest rates are subject to change without notice. We strive for accuracy but reserve the right to correct any errors or omissions. The Offer cannot be combined with any other promotional rate offers. The Offer may be withdrawn at any time. Fees may apply. All applications are subject to Motor City Community Credit Union’s approval and standard terms and conditions apply.
Additional Terms:
Applicants must meet all MCCCU standard credit lending criteria. The applicant is also responsible for any associated costs of credit protection and is required to acquire and/or assign existing or new life insurance or purchase Cumis credit protection. Motor City Community Credit Union reserves the right, in its sole discretion, to suspend, disqualify, limit or revoke the Offer to any person or member it finds or believes to be manipulating or otherwise abusing the process, fairness, integrity or operation of the Offer, without further explanation or advance notice to such person or member. By participating in this Offer, the member acknowledges and agrees that Motor City Community Credit Union will not be held liable for any direct or indirect losses, damages, or opportunity costs suffered or incurred by them or any third party as a result of Motor City Community Credit Union suspending, disqualifying, limiting or revoking their participation in this Offer in the event that Motor City Community Credit Union finds or believes them to be manipulating or otherwise abusing the process, fairness, integrity or operation of the Offer. If Motor City Community Credit Union is unable to execute the Offer as planned for any reason, including but, not limited to infection of its computers/systems by virus, bugs, tampering, unauthorized intervention, fraud, technical failures, force majeure, pandemic, or any other cause beyond its reasonable control which corrupts, interferes with, or otherwise impacts the administration, security or proper conduct of this Offer, Motor City Community Credit Union reserves the right at its sole discretion to, without advance notice, terminate or suspend the Offer, in whole or in part, or modify it as it deems necessary.
If the member has any other personal deposit account(s) with Motor City Community Credit Union, it or they must be in good standing; otherwise, Motor City Community Credit Union reserves the right to prohibit the member from participating in, or to discontinue their participation in the Offer in MCCCU’s sole discretion. By participating in the Offer, the member acknowledges and agrees that Motor City Community Credit Union will not be held liable for any direct or indirect losses, damages, or opportunity costs suffered or incurred by them or any third party as a result of it prohibiting them from participation in or discontinuing their participation in this Offer.
