Terms and Conditions for Libro Transfer Incentive

The Promotion:

Libro Credit Union(“Libro”) is offering a transfer bonus “Libro Transfer Incentive”, subject to satisfaction of the eligibility criteria set forth in these terms and conditions. 

Transfer your Wealth Portfolio to our mutual fund and security partners Credential Asset Management Inc. (CAM) or Credential Securities (CS) and get 1% cash back (up to a maximum $1,000). Transfer a minimum of $5000 by March 30, 2024 to be eligible. Account types eligible for this offer include both registered (e.g. RRSP or TFSA) and non-registered investment accounts.  

Example:   

See the Terms and Conditions below for detailed requirements of the offer. 

Terms and Conditions:

Offer period: The offer is available from Jan 15, 2024, until March 30, 2024, at 4:00 p.m. EST. 

Qualifying Account Criteria:  

• Qualifying Accounts can be (a) non-registered; (b) registered retirement savings plans; (c) spousal registered retirement savings plans; (d) locked in registered retirement savings plans; (e) registered retirement income funds; (f) spousal registered retirement income funds; (g) locked in registered retirement income funds; or (h) tax free savings accounts. Other accounts may qualify, at the sole discretion of Libro and Credential Asset Management or Credential Securities.  
• Qualifying Accounts must be nominee accounts with Credential Asset Management (CAM) or Credential Securities (CS), where applicable. New accounts must meet account opening requirements of and be approved by CAM   and CS , as applicable. 
• Your Libro account must be in good standing throughout the offer period. Your Credential Asset Management or Credential Securities account must not be in a debit position nor have any margin calls. 

Eligibility Criteria:  

• The offer is available to new and existing Libro Owners and Credential Asset Management , Credential Securities account holders.  
• Cash, investments, or a combination thereof (“New Assets”) must be transferred into a new or existing investment account at Credential Asset Management, or Credential Securities(collectively, the “Qualifying Accounts”) from a Canadian investment firm or a Canadian financial institution outside of Libro. Investments transferred in must be approved as “Qualifying Investments” (as defined below). 
• Qualifying Investments are all investments held in a Qualifying Account other than Non-Qualifying Investments. Non-qualifying includes the following: cash, money market funds, high interest savings accounts, fixed income securities with a duration of less than six months or any securities that are restricted, that are subject to a cease trade order or that are non-listed and without independent evidence of current value. A Non-Qualifying Investment may be converted into a Qualifying Investment within 30 days of the Transfer in date and thereby qualify for the promotion. 
• This offer is open only to the account holder and is not transferrable. 

Funding Criteria: 

• Transfer in of at least $5,000 in net new assets must be initiated by no later than March 30, 2024, at 4 PM EST. This requirement may be met through multiple external transfers or deposits. This specific date of transfer is recognized as completing the signed agreement for funds transfer by the respective Libro Owner (member). 
• Transfers from an external financial institution must be received no later than May 31, 2024, to qualify. 
• New funds will be calculated by adding the total amount of Qualifying Investments in aggregate of Qualifying Accounts during the offer period. For example, if you add funds to a non-registered account, a TFSA and an RRSP during the offer period, the individual qualifying amounts will be aggregated for the purpose of this offer and paid to a Qualifying Account at the discretion of Libro. 
• Only one bonus per client, joint account, or corporate account will be awarded during this promotion. NOTE: The amount of any transfer fee charged by another Canadian investment firm or Canadian financial institution will be credited to your Libro chequing or savings account (up to a maximum total credit of $250 per client), subject to Libro’s receipt of the documentation evidencing such transfer-in fee. The bonus and transfer-in offer are the only offers that can be combined. 
• The bonus may be credited to an eligible account as cash to either a chequing or savings account within 2 weeks following the completion of the transfer of funds and no later than June 14th, 2024.  

Other Terms and Conditions: 

• Bonus will be credited within or about 2 weeks following the completion of the transfer and no later than on or about June 14th, 2024   
• This offer cannot be combined with any other previous bonus offers. 
• You are solely responsible for any tax consequences arising from or in connection with this offer. 
• All dollar amounts mentioned are in Canadian dollars. 
• US dollar accounts will be converted at prescribed rates in effect at Credential Asset Management Inc. or  Credential Securities , as applicable, as of the Transfer in date in order to determine whether clients qualify for the offer.  
• The Credential Asset Management Inc. or Credential Securities representative managing a Qualifying Account must be affiliated with Libro.  

Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities; a division of Qtrade Credential Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.