Open a new Flex or Ultra chequing account and complete the following qualifying transactions:
1x - Eligible Direct Deposit (payroll, pension, etc.) that must recur for 6 months.
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One of the following options within the first 60 days:
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2x - Preauthorized Payments (minimum $50)
OR
4x - Online Bill Payments (minimum $50)
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Complete this step to receive $400
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2x - Preauthorized Payments (minimum $50)
OR
4x - Online Bill Payments (minimum $50)
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Complete this step to receive $400
Open a savings or HISA account within 30 days of Step 1
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Set up a preauthorized deposit of $50/month for a minimum of 4 months.
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Complete this step to receive $200
Open a registered account within 60 days of Step 1
Set up a direct deposit of at least $200/month for 12 months.
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Complete this step to receive $100
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Frequently Asked Questions
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Q: How much can I earn in total through this campaign?
A: You can earn up to $700 by completing all three steps — $400 for a new chequing account, $200 for a new savings/HISA account, and $100 for a registered account (RRSP, TFSA, or FHSA).
Q: When will I get my Cash offer?
A: Offers are typically deposited once all requirements are verified as complete as per each step. You must complete step 1 before you are eligible for payments for steps 2 and 3. (Exact timing will depend on internal processing schedules.)
Q: Who is eligible for this offer?
A: This offer is available to new members joining the SCU family who open an account during the campaign period.
Q: Do I need to complete all three steps?
A: step one is mandatory, and you can choose to complete step two and/or three to earn the full reward
Q: What type of chequing account do I need to open?
A: Open a new Flex or Ultra chequing account.
Q: What do I have to do to qualify for the $400?
A:
- Complete at least one eligible direct deposit (payroll or pension) that recurs for six months, and
- Within the first 60 days, either:
o Set up two preauthorized payments of at least $50 each, or
o Make four online bill payments of at least $50 each.
Q: How do I earn the $200 bonus?
A:
- Open a savings or HISA account within 30 days of opening your chequing account.
- Set up a preauthorized deposit of at least $50 per month for a minimum of four months.
Q: What kind of registered account can I open?
A: You can open an RRSP, TFSA, or FHSA.
Q: What do I need to do to qualify for the $100 bonus?
A:
- Open the registered account within 60 days of opening your chequing account.
- Set up a direct deposit of at least $200 per month for 12 months.
Q: What if I cancel or stop deposits early?
A: If you don’t meet the ongoing deposit/payment requirements, you may become ineligible for the bonus.
Q: Do joint accounts qualify?
A: One member of a joint account would qualify if criteria is met.
Terms & Conditions
Sydney Credit Union – Open & Earn Campaign
Earn up to $700 in cash rewards:
- Step 1: $400 cash
- Step 2: $200 cash
- Step 3: $100 cash
To qualify for the Step 1 reward of $400, all conditions must be met within the specified 60-day and 6-month timelines.
Members become eligible for Step 2 and Step 3 rewards only after completing Step 1.
Step 1 – Earn $400 Cash
To receive $400, you must:
- Open a new SCU Flex or Ultra Chequing Account between September 15 and December 31, 2025.
- Complete at least one eligible recurring direct deposit (e.g., payroll, pension, government benefits) that continues for a minimum of six months.
- AND
- Make four online bill payments of at least $50 each,
OR - Set up two direct debits of at least $50 each.
- Make four online bill payments of at least $50 each,
Step 2 – Earn $200 Cash
To receive $200, you must:
- Open a Savings or High Interest Savings Account (HISA) within 30 days of opening your chequing account.
- Set up a preauthorized deposit of at least $50 per month, continuing for a minimum of four months.
Step 3 – Earn $100 Cash
To receive $100, you must:
- Open a registered account (RRSP, TFSA, or FHSA) within 60 days of opening your chequing account.
- Set up a direct deposit of at least $200 per month, continuing for a minimum of 12 months.
Eligibility Exclusions
The following individuals are not eligible for the Step 1 ($400) reward:
- Current members with an SCU Chequing Account as of September 15, 2025.
- Members who closed an SCU Chequing Account on or after September 15, 2025.
- SCU employees or members with a joint account with an SCU employee.
Reward Disbursement
- Step 1 ($400) will be paid within 60 days of completing all requirements.
- If Step 2 is also completed within the qualifying period, the $200 will be paid concurrently.
- Step 3 ($100) will be paid within 60 days of completion, provided Step 1 has been fulfilled.
Total Reward Summary
Members may earn the following based on participation:
- $400 for completing Step 1
- $600 for completing Steps 1 & 2
- $500 for completing Steps 1 & 3
- $700 for completing all three steps
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Copyright 2024 Sydney Credit Union. All rights reserved.
Copyright 2024 Sydney Credit Union. All rights reserved.
