Member Spark Rewards

The nitty-gritty

The fine print

Who and what are eligible for Member Spark Rewards

1.

You need to be a member!

First and foremost, you need to be a member with a fully paid member share. If you aren’t a member yet, what are you waiting for? Join now!


2.

You have to have a full relationship with us.

Just about every product or service we have qualifies towards Relationship Bonus! To be eligible for the Relationship Bonus, you only need to hold four eligible account types (see below) as of December 31 of the previous year (active and in good standing).


3.

Then you can qualify for:

Balance Bonus

You need to be a paid member and meet the requirements in the Relationship Bonus to be eligible for the Balance Bonus. Product balances of all qualifying products (excluding registered products, see below) are added together as of December 31 of the previous year to see if you qualify.

AND/OR

Loyalty Bonus

You need to be a paid member and meet the requirements in the Relationship Bonus to be eligible for the Loyalty Bonus. The Loyalty Bonus is a nominal amount based on the number of years that you have been a member with us.


Eligible Products Relationship Bonus Balance Bonus
Personal
Chequing
Savings
Term Deposit
WCU RRSP
WCU RRIF
WCU RESP
WCU TFSA
Personal Loan
Personal Line of Credit
Residential Mortgage
Personal Comm/Ag Loan
Personal Comm/Ag Line of Credit
Personal Comm/Ag Mortgage
Collabria Credit Card
Safety Deposit Box
Credential Asset Management Inc.* (CAM) Accounts:
- Non-Registered Investment Acct
- RRSP
- RESP
- RRIF
- TFSA






Credential Securities* (CS) Accounts:
- Non-Registered Investment Acct
- Margin Account
- RRSP
- RESP
- RRIF
- TFSA







Note: Only the first of multiple products under one product type counts toward the product count. For example, if you have three different chequing accounts, we will only count them as one towards eligible products. However, all three accounts will be included in the calculation for Balance Bonus.

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

The Member Spark Rewards Program and reward amounts are subject to change at any time and changes may be made without any notice. There is no guarantee on how funds will be distributed or on amounts to be paid. The Member Rewards Program may be suspended or discontinued at any time.

The Member Rewards Framework

Member Rewards is an annual profit-share payment to members based on their financial relationship with WCU. A member’s relationship is determined by the number of eligible products they use, along with added rewards for larger balances and length of membership. To be eligible for Member Spark Rewards, a member only needs to hold four WCU products as of December 31 of the previous year. 

The framework for our Member Rewards is simple and the rewards meaningful. Just a couple guidelines for you to keep in mind. You must qualify for the Relationship Bonus before you are eligible for either the Balance or Loyalty Bonus. You can qualify for different levels of bonuses – for example, you can qualify for a Rewardy Relationship Bonus and a Rewardier Loyalty Bonus – or vice versa.

Rewardy

Rewardier

Rewardiest

Relationship Bonus

Tiers Only 4 products to qualify! Gold star for you! 6-7 products 8 products or more! You, superuser, you!
Bonus Amount Determined annually based on profit. 2X Rewardy Bonus 4X Rewardy Bonus
2021 Bonus Amount $160 $320 $640

+ Plus Balance Bonus

Deposits plus Loans Tiers $750K - $1.25M $1.25M - $2.5M $2.5M +
Bonus Amount Determined annually based on profit. 2X Rewardy Bonus 4X Rewardy Bonus
2021 Bonus Amount $400 $800 $1,600

+ Plus Loyalty Bonus

Tiers At Least 10 Years as a member! 15 - 19 Years 20+ Years
Bonus Amount $10 $20 $40

= Your Reward Payout

= 2021 Reward payments ranged from $160 - $2120!


Note: the Member Rewards Program and reward amounts are subject to change at any time and may be made without any notice. There is no guarantee on how funds will be distributed or on amounts to be paid. The Member Rewards Program may be suspended or discontinued at any time.

Member Spark Rewards: Frequently Asked Questions

Here are some commonly asked questions regarding our new Member Spark Rewards.  If your question isn't answered here, please send us an email or visit one of our convenient branch locations - we'd love to help!
How much you receive depends on your relationship with us.  Payments are based on relationships as of December 31 of the previous year. The more business you do with us, the more you get rewarded. Member Spark Rewards statements will be mailed out to members in April.
If you qualify for a Rewards payout, the payout will be deposited into your Member Share account on April 20, 2022.  Once deposited to your account you have immediate access to the funds! Simply transfer to your chequing account to buy yourself a nice little thank you gift or pay some bills! Or if you want to invest your reward (and maybe move from Rewardy to Rewardiest), we’d love to help!
We’d love to earn more of your business and help you reach your financial goals with our competitive products and services. You can earn additional Member Spark Rewards by increasing your relationship with us.
Yes. Future payments will grow and change as the profit of Weyburn Credit Union and our members’ relationships evolve.
A joint account will be used towards the individual rewards calculation for both members. Both members receive credit for the account. The only exception is a Collabria Mastercard, in the case of a Mastercard, currently only the primary holder will receive credit for the card.
No, youth accounts do not qualify for Member Spark Rewards. However, we didn't want to leave out our youth members! Eligible youth accounts receive a nominal reward of $25.
No. For the Relationship Bonus, only one account per product type is counted towards product count. If you have two chequing accounts, even if they are different types of chequing accounts, you will only receive credit for one because they are both chequing accounts. However, all accounts will be included in the calculation for the Balance Bonus.
Yes, all accounts will be included in the calculation for the Balance Bonus.
Yes. As our relationships with our members have grown, our rewards program needed to evolve as well.  We have expanded our Member Spark Rewards program to reward a wider variety of accounts, services and solutions.  While the old patronage program rewarded only interest paid and earned, the new Member Spark Rewards Program rewards the entire member relationship.
Unfortunately, due to legislative restrictions and income tax implications, we are unable to reward certain accounts at this time, including Credential* and registered accounts.  However, we are always looking for ways to evolve and improve the Member Spark Rewards Program, so should circumstances change, we would be happy to revisit this.

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

No. The Member Spark Rewards Program and reward amounts are subject to change at any time and may be made without any notice. There is no guarantee on how funds will be distributed or on amounts to be paid. The Member Rewards Program may be suspended or discontinued at any time.
The Member Spark Reward payment you receive is fully taxable.  You will receive a T-5 for the full amount of the reward. T-5s will be available in February of the following year.
No, we price all of our rates and fees to be competitive in the market.  The Member Spark Rewards Program is not considered in the pricing of our products and services.
Once the annual payments are completed on April 20, the entire payment is yours to do with as you like!  What you don’t have access to, and needs to stay in your Member Share Account is your $5 member share. The $5 Member Share will be restricted as you need to be a funded members to receive future Member Spark Reward payments.
The minimum requirements to be eligible for a payment are, at the previous year's end:
  1. You need to be a member with a fully paid member share,
  2. You need to hold a minimum of 4 eligible WCU products and services (multiple products of the same product type do not count), and
  3. The accounts must be operated as agreed to and in good standing.
If you don't meet those requirements, we'd love to earn more of your business and help you reach your financial goals. You can become eligible for Member Spark Rewards by increasing your relationship with us. 

If you feel you meet those requirements and feel you have been missed, we'd be happy to look into it for you! Please call us at 306.842.6641, send us an email, or visit us at any of our convenient branch locations.
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We use our profits for your good, not our pockets.

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