HERE'S HOW IT WORKS

• Set up a Home Sweet Bonus® Account to save for your down payment with an initial $100 deposit.
• Make regular recurring monthly payments (min. $100) to your Home Sweet Bonus® Account until you’re ready to get a mortgage with us.
• We’ll add a $1,000* bonus to the savings you’ve already got in your Home Sweet Bonus® Account—that way, you’ll have a larger down payment on your new home!

KEY BENEFITS

• Set up is quick and simple
• You'll receive a great interest rate* on all your deposits
• You only need to contribute $100 monthly as a minimum—a great way to take the pain out of saving!
• You can use your Home Sweet Bonus® in addition to the government's First Time Homebuyer withdrawal plan.
• Best of all, there is no repayment required. Unlike the First Time Homebuyer's plan, your contributions do not need to be paid back.

*The interest rate is subject to change without notice. Interest is expressed as an annual rate and calculated on the applicable portion of the closing daily balance in the account and paid at month end. The Home Sweet Bonus account provides the opportunity to receive up to a $1,000 credit upon the purchase of a mortgage from Valley First, a division of First West Credit Union by meeting monthly savings requirements. Additional terms and conditions apply.

The Home Sweet Bonus® account provides the opportunity to receive up to a $1,000 credit (the “Credit”) upon the purchase of a mortgage from Valley First, a division of First West Credit Union (“Valley First”) by meeting monthly savings requirements.

TERMS & CONDITIONS

Schedule of the minimum required balance and qualified Credit if mortgage taken out.

1. To register to receive the Home Sweet Bonus® account Credit a member must:
   1. Open a new Home Sweet Bonus® account.
   2. Deposit an initial $100 to the Home Sweet Bonus® account.
2. The Credit is for a maximum amount of $1,000 after the account has remained open for 36 consecutive months and the minimum required balance and monthly contributions have been satisfied. After 12 consecutive months an account owner will be eligible for a $250 credit and after 24 consecutive months a $500 credit.
3. One monthly contribution payment can be skipped per 12 calendar month period beginning the calendar month in which the account was opened.
4. In order to qualify for the credit the member must:
   1. Set-up a recurring monthly transfer from an Valley First Chequing account to the Home Sweet Bonus® account.
   2. Deposit at least $100 per month to the Home Sweet Bonus® account and maintain the minimum required balance for a minimum of 12 months.
   3. Maintain the minimum required balance and keep the account in good standing until a mortgage is taken out with Valley First. A mortgage must be taken out within 96 months of initial account opening.
   4. Apply, qualify and close on a mortgage of a minimum $50,000 with Valley First.
   5. Not have held a mortgage on the qualifying property with First West Credit Union in the 12 months preceding the qualifying mortgage being funded.
   6. Be at least 19 years of age at the date of mortgage funding.

5. The minimum required balance is calculated each month by taking $100 multiplied by (A )the number of calendar months the account has been opened minus (B) the number of full annual periods (12 consecutive months including month of account opening) that the account has been opened, plus (C) 1 if it is month 12, 24 or 36 otherwise 0, minus 1. This calculation takes into account an allowable one missed payment per annual period.

   $100 X {A - B + C - 1}

6. If at any time three consecutive monthly deposits have been missed Valley First reserves the right to close out the Home Sweet Bonus® account. At this time any balance remaining in the Home Sweet Bonus® account will be credited to the Chequing account from which the monthly contribution is scheduled to come from and the Credit will not be paid.
7. This agreement does not represent a commitment to provide a mortgage loan. Individuals participating in the Home Sweet Bonus® account must meet full underwriting criteria for mortgage qualifying at the time of mortgage funding.
8. Only one credit will be paid per mortgage charge.
9. Mortgage financing must be applied and arranged for with Valley First only. Mortgages that are approved through a third party mortgage broker will not be eligible for the Credit.
10. At least one name on the Home Sweet Bonus® account must be on the mortgage as a borrower and mortgagor.
11. Individuals will be wholly responsible for any tax implications that receiving the Credit may incur.
12. Valley First reserves the right to discontinue the Home Sweet Bonus® account at any time. If discontinued 180 days notice will be given and individuals will be eligible for a pro rated bonus if they take out a mortgage with Valley First within the notice period. If no mortgage is taken within the 180 days the funds will be deposited to the account from which the monthly contribution was scheduled to be debited from.
13. Upon the breach of any term of this Agreement by the account holder, Valley First reserves the right to close out the Home Sweet Bonus® account. At this time any balance remaining in the Home Sweet Bonus® account will be credited to the Chequing account from which the monthly contribution is scheduled to come from and the Credit will not be paid.
14. The interpretation of any provision of this Agreement by Valley First will be final and binding on the account holder.