High Interest Savings Account New Deposits Promotion – Terms and Conditions

Version Date: April 2025

By opting-in to participate on or before July 23,2025 you may be eligible to the Coast Capital Savings Federal Credit Union High-Interest Savings Account New Deposits Promotion (the “Promotion”).  

During the Promotion Period, you can earn a 4.0% per annum bonus interest rate on Eligible Deposits of up to CAD 500,000 in your Canadian Dollar Coast Capital High-Interest Savings Accounts (“HISA”) per personal membership or joint membership. Bonus interest is earned only from the date you opt-in to the Promotion and until the end of the Promotion Period.

Please read these Terms and Conditions carefully as they will explain how the Promotion will be applied. 

Definitions

When used in these Terms and Conditions, the phrases set out below mean the following: 

1. “Bonus Interest” means the additional interest earned on Eligible Deposits of up to CAD 500,000 in your HISA during the promotion period. See “EXAMPLES” section below for how Bonus Interest earned on Eligible Deposits is calculated. 
2. “Coast Capital” means Coast Capital Savings Federal Credit Union.®
3. “Eligible Deposit” means the lower of the New HISA Deposits and the New Deposits, calculated daily starting from the close of business on April 24, 2025 and until the end of the Promotion Period. If the lower of the New HISA Deposits and New Deposits is negative, the daily Eligible Deposit will be zero. 
4. “HISA” means your personal Coast Capital Canadian dollar High-Interest Savings Account(s) and does not include foreign currency, Regular Savings accounts or accounts under a Registered Plan such as (but not limited to) Tax-Free Savings Account, Registered Retirement Savings Plan, Registered Retirement Investment Fund or First Home Savings Account. 
5. “HISA balance” means the total value, in Canadian Dollars, of your HISA. 
6. “New HISA Deposits” means the change in the daily closing HISA balance, calculated starting from the close of business on April 24, 2025 and until the end of the Promotion Period. 
7. “New Deposits” means the change in the daily closing Total Deposits balance, calculated starting from the close of business on April 24, 2025 and until the end of the Promotion Period. 
8. “Promotion” means this ‘High-Interest Savings Account New Deposits Promotion’ running during the Promotion Period. 
9. “Promotion Period” means April 25, 2025 to August 31, 2025 unless we terminate it at an earlier date. Bonus Interest is earned during the Promotion Period only. 
10. “Regular Interest” means interest earned at the standard posted (non-Bonus) interest rate on a HISA based at the rate that applies to the balance tier. 
11. “Total Deposits” means, during the Promotion Period, the total value in Canadian dollars of all your eligible chequing, savings, term deposit, and investment accounts under the same personal membership or joint membership number with Coast Capital during the Promotion Period. For the purpose of calculating the total value, any foreign currency account balances will be held at par value. 
12. “We,” “our,” or “us” means Coast Capital and its affiliates. 
13. “You,” “your,” or “yourself” means you, our member.

How to be eligible for the bonus interest

To be eligible for the Bonus Interest, you must satisfy the following requirements: 

1. You must opt-in to the Promotion by agreeing to these Terms and Conditions on or before July 23, 2025. For clarity, if you opt-in to the Promotion on or after July 24, 2025, you will not be eligible for the Bonus Interest. 

2. If you have more than one personal membership or joint membership with Coast Capital (e.g., you have a personal membership and a joint membership with a family member), by opting-in to the Promotion, on or before July 23, 2025, you will participate in the Promotion under each personal memberships or joint memberships where you are a member. For clarity, only one joint member is required to opt-in to participate in the Promotion.   

3. You must be an individual and a current Coast Capital member. Quebec residents are not eligible. For clarity, new Coast Capital personal memberships or joint memberships, opened during the Promotion Period, will not be eligible. 

4. You must not currently be participating in any HISA bonus rate promotion or benefit from Coast Capital, other than under this Promotion. For clarity, this Promotion is not stackable with any other HISA bonus rate promotion or benefit from Coast Capital. 

5. You must hold or open a personal HISA with Coast Capital and keep that HISA open during the Promotion Period. The following accounts are not eligible for the Bonus Interest: 

1. 1. Foreign currency accounts;
   2. Accounts under a Registered Plan such as (but not limited to) Tax-Free Savings Account, Registered Retirement Savings Plan, Registered Retirement Investment Fund or First Home Savings Account;
   3. Personal Holding Company Accounts;
   4. Trust Accounts; and
   5. Accounts held by entities other than an individual (such as Commercial Banking accounts, Small Business Banking accounts, accounts held in the name of a corporation (including personal holding accounts), trust accounts or any other account used for a commercial purpose).

How to earn and receive bonus interest

To earn Bonus Interest on your Eligible Deposits, you must take the following actions: 

1. Deposit New HISA Deposits into your HISA account that is eligible for Bonus Interest. 

2. Ensure that your Total Deposits stay at or above your Total Deposits balance on April 24, 2025. 

3. Earn Bonus Interest on Eligible Deposits that are within your HISA account at the annual rate of 4.0% from the date you opt-in to the Promotion and until the end of the Promotion Period. Bonus interest is calculated daily on the daily closing balance of Eligible Deposits and is paid monthly. Bonus interest will be earned on Eligible Deposits in your HISA, in addition to regular interest that is paid on deposits in the HISA. The sum of regular interest and bonus interest will determine the total interest payable during the Promotion Period. 
4. Bonus Interest payments will be shown as separate transactions from your regular interest payments on your monthly HISA statements. 
5. If you have multiple HISAs including HISAs held under a joint membership: 
   1. Bonus interest is earned on Eligible Deposits in each HISA but will be added together and paid to the HISA with the highest balance per personal membership or joint membership.
   2. Bonus interest is earned on Eligible Deposits of up to a combined CAD 500,000 across all your HISAs under the same personal membership or joint membership number. For clarity, if you have a HISA under a personal membership and a HISA under a joint membership, Bonus interest will be earned on Eligible Deposits of up to CAD 500,000 for the personal membership and Bonus interest will be earned on Eligible Deposits of up to CAD 500,000 for the joint membership. 
6. Any calculated but unpaid bonus interest on Eligible Deposits in a HISA will be forfeited if that HISA is closed before the bonus interest is paid. For clarity, if you close your HISA during the Promotion Period, you will not be eligible for Bonus Interest even if you subsequently reopen the HISA during the Promotion Period.

Restrictions of bonus interest

1. Deposits made to eligible HISAs at the close of business day on or before April 24, 2025 are not considered New Deposits eligible for this campaign.
2. Deposits made to eligible HISAs at the close of business day on or after September 1, 2025 are not considered New Deposits eligible for this campaign.
3. Total Deposits are calculated based on the total holdings in each personal membership or joint membership where you are a member.

Other conditions

1. Except as set out in the Promotion, all regular terms and conditions applicable to each HISA will remain in effect during and after the promotion period. For this and other information on your savings accounts please visit: https://www.coastcapitalsavings.com/everyday-banking/savings-accounts.
2. Coast Capital reserves the right to refuse or terminate any individual’s participation in this Promotion if Coast Capital has concerns about or discovers abuse of the proper and intended operation of the Promotion, including the moving of funds between personal memberships and/or joint membership.
3. This Promotion may be amended, extended or cancelled at the sole discretion of Coast Capital at any time without prior notice.

Examples

How Bonus Interest is calculated during the Promotion Period:

These examples are provided for illustrative purposes only. Each row represents an example of a change on one day during the promotion period. Figures represent balance changes in respective accounts during the promotion period.

Example #1

Example #2

* Given the New Deposits is a negative number, the Eligible Deposits amount is calculated to be $0.

^‡ Although both the New HISA Deposits and New Deposits amount is $520,000, the maximum Bonus Amount for the Promotion is $500,000.