Offer Description:
The 2025 Student Loan Cash Incentive Offer (the “Offer” from Libro Credit Union (“Libro”)) provides a one-time $250 cash incentive (the “Cash Incentive”) to new or existing Libro Owners who apply for and are approved for a qualifying Libro Student Loan and draw on the loan during the Offer Period.
Offer Period:
The Offer is available from July 21, 2025 at 12:01 a.m. ET until September 29, 2025 at 11:59 p.m. ET (the “Offer Period”).
Eligibility:
The Offer is only available to new and existing Libro Owners who are residents of Ontario and who have:
- Reached the age of majority (18 years or older), or if under 18, obtained a cosigned loan by a parent or legal guardian;
- Applied for and secured a new Student Loan during the Offer Period.
- Maintain or open a chequing or savings account with Libro to receive the Cash Incentive.
Exclusions:
Renewals, credit limit increase, line of credit extensions, re-advancements, or conversions of existing credit products are not eligible.
Offer Limits:
Each eligible Owner is entitled to one (1) $250 Cash Incentive per qualifying Student Loan. Joint or co-signed loans are limited to one incentive per application. Multiple attempts or duplicate incentive claims may result in disqualification at Libro’s discretion.
Offer Fulfillment and Conditions:
- The Cash Incentive will be deposited into the designated Libro chequing or savings account associated with the loan applications within 30 days of the first disbursement from the qualifying Student Loan.
- If the Owner is under 18 and does not have an individual account, the Cash Incentive may be deposited into a joint account with the CoSigner or another account in the Owner’s name.
- If the loan is closed or cancelled within 90 days from funding, the Cash Incentive must be repaid and may be automatically debited.
- Only one incentive will be granted per qualifying Student Loan during the Offer Period.
- The Cash Incentive is non-transferable, non-exchangeable, and must be accepted as awarded. No substitutions will be permitted
Product Conditions:
- While the Owner is in school the Student Loan requires interest-only payments and funds may be re-advanced up to the authorized limit.
- Within one year of completion of studies (or when proof of continued enrolment cannot be provided), the Student Loan is to convert to a loan with an identified repayment schedule over a fixed period.
- Interest rates starting at:
- Unsecured: Prime + 1.50%
- Secured (cash or real estate): Prime + 0.50%
- Interest rates are subject to change without notice
- Libro Student Loans are subject to annual review as per Libro’s standard lending criteria.
General Terms and Conditions:
- Student loans are to subject to Libro’s standard lending criteria.
- By participating in this Offer, applicants agree to be bound by these Terms.
- Libro Credit Union reserves the right to amend, extend, withdraw, or terminate the Offer and/or these Terms at any time without notice.
- All decisions made by Libro Credit Union regarding the Offer are final.
- Participants consent to the collection, use, and disclosure of personal information for administering the Offer, in accordance with Libro Credit Union’s privacy policy.
- In case of any discrepancy between the Terms and any Offer-related materials, these Terms shall prevail.
- These Terms are governed by the laws of Ontario, Canada.
- By participating in this Offer, applicants release Libro Credit Union from any liability arising from participation in the Offer as set out in more detail in the Limitations section of the Libro Service Agreement which is available on request.