Yes, you can. But you should probably reconsider as it will incur abysmal performance

Code:
SELECT  *
FROM    TBank T
JOIN    tblDWLoyaltyMember L
ON      (ISNUMERIC(T.LoyaltyMemberCode) = 1 AND T.LoyaltyMemberCode = L.LoyaltyMemberCode)
        OR (ISNUMERIC(T.LoyaltyMemberCode) = 0 AND T.LoyaltyMemberCode = L.MembershipID)
Try to replace the abomination above with UNION like this

Code:
SELECT  *
FROM    TBank T
JOIN    tblDWLoyaltyMember L
ON      T.LoyaltyMemberCode = L.LoyaltyMemberCode
WHERE   ISNUMERIC(T.LoyaltyMemberCode) = 1

UNION ALL

SELECT  *
FROM    TBank T
JOIN    tblDWLoyaltyMember L
ON      T.LoyaltyMemberCode = L.MembershipID
WHERE   ISNUMERIC(T.LoyaltyMemberCode) = 0
cheers,
</wqw>