Longford Credit Union Limited, 50 Main Street, Longford
043 3341523 memberservice@longfordcu.ie
Our Credit Union is for People, not Profit!!

Members Car Draw

LONGFORD CREDIT UNION LIMITED

CAR DRAW RULES

Commencement

  1. The car draw commenced in December 1997, and will continue for as long as sufficient members are willing to participate in the draw or until the Board of Directors of Longford Credit Union (hereafter called “the Credit Union”) deem otherwise. The Board of Directors shall have absolute discretion in this matter.

Participation Requirements

  1. Participation in the draw is limited to members of the Credit Union who are at least 17 years of age and have a minimum of €8 in savings in their share account at the date of deduction of the entry fee (see (7) below).
  2. All officers of the Credit Union including members of the Board of Directors, members of the Board Oversight Committee, Volunteers, Management and Staff are eligible to enter the car draw.
  3. All eligible members wishing to participate in the draw must complete, and sign, the “Member’s Authorisation Form”.
  4. The Member’s Authorisation Form is the member’s written consent to participate in all future car draws (subject to continuing to meet the conditions of membership and payment of the appropriate entry fee) until this consent is revoked in writing by the member.
  5. The Member’s Authorisation for the car draw must be completed prior to participation and no entry is valid unless a Member’s Authorisation Form has been completed and the entry fee has been paid and credited in advance of the car draw. Each new members authorisation received will be processed immediately after the last draw for participation in the next draw.
  6. Where a member who has completed an authorisation to participate in the car draw does not meet the conditions of entry at any applicable “date of deduction” of the entry fee they will not be entered in the car draw at that time but will be deemed to have given their consent to participate in subsequent car draws as soon as they meet the conditions of entry.
  7. The entry fee, or ‘Draw Subscription’, will be determined by the Board of Directors, and members participating in the car draw will have their ‘Draw Subscription’ deducted from their shares on a monthly basis. New members are eligible to participate in a ‘Car Draw’ after a ‘Draw Subscription’ has been deducted from their shares. The current deduction is €1 per month. It is the member’s sole responsibility to ensure that sufficient funds are in place at the relevant time to enable their entry to be included.
  8. There are normally four car draws throughout the year. These car draws will normally be held on International Credit Union Day, at the Annual General Meeting (“AGM”) and two other dates throughout the year.
  9. Once the date of the car draw has been decided by the Car Draw Committee, details will be posted on the Credit Union’s website, www.longfordcu.ie, and on the Credit Union’s Facebook page in advance of the draw.
  10. Entry is limited to ONE entry per member account. In the case of entries in respect of joint accounts, the joint names will be entered in the draw and if successful the prize will be awarded in the joint names of the account holder(s).

 

 

Operation of the Car Draw

  1. The Board of Directors has appointed a Car Draw Committee to oversee the operation of the car draw. Membership of the Car Draw Committee is comprised of at least one member from each of, The Board of Directors and a Volunteer who is not a member of the Board of Directors or Board Oversight Committee.
  2. An independent adjudicator will be present for all car draws.
  3. All ‘Car Draws’ will be held in the Longford Credit Union office at 50 Main Street, Longford in the presence of car draw committee members and supervised by an Independent Adjudicator. The only exception is the December draw which takes place after the Credit Union’s Annual General Meeting (“AGM”), which is normally held in the middle of December each year. The details of the AGM are circulated to all Credit Union members in advance of that meeting.
  4. Any changes to these arrangements will be posted on the Credit Union’s website, www.longfordcu.ie, and on the Credit Union’s Facebook page in advance of the draw.
  5. The Car Draw Committee will draw five car draw numbers, the first of which will be the winner of the main prize of the car with the four numbers subsequently drawn winning equal cash prizes of €1,000. In the event that the first drawn car draw number is deemed invalid for any reason, the second drawn number will be the winner of the main prize of the car and an additional sixth number will be drawn for the cash prize of €1,000.
  6. Members are entitled and encouraged to attend each public car draw.
  7. The names of car draw prize winners will be published in some or all of the following: the offices of the Credit Union; the Credit Union’s Annual Report; any other official publication of the Credit Union; the website www.longfordcu.ie; the Credit Union’s social media channels (including but not limited to Facebook); and on local newspapers and radio stations.
  8. A register of entrants is maintained by the Credit Union. The register is reviewed and updated by management prior to each draw.

Financial Records of the Car Draw

  1. The car draw fund account will be prepared and reconciled by the management team of the Credit Union on an ongoing basis and subsequently audited by the Credit Union’s external auditor. The details of the car draw fund account will be published in the Credit Union Annual Report and subsequently presented at the AGM. The car draw fund account will also be subject to periodic checking by the Internal Auditor of the Credit Union.
  2. The car draw will be self-financing and non-profit making. Any surplus funds will be disposed of by way of extra prizes, after the incidental expenses of running the car draw have been paid.

Special Considerations

  1. If a member who has completed a member’s authorisation form is in arrears or in default in carrying out any financial commitment or obligation to the Credit Union at any applicable date of deduction of the car draw entry fee, the Credit Union reserves the right to decline entry to the car draw at that time. Where this occurs, entry to future car draws may commence on rectification of the arrears or other default.
  2. In the event that the winning member is a person who is in arrears or in default in carrying out any financial commitment or obligation to the Credit Union, the Car Draw Committee may make the decision to withhold delivery of the prize to the member until the arrears have been paid or the default has been rectified. Such decision of the Car Draw Committee shall be notified in writing to such member and if within 7 days of being notified, the member has failed to comply with the requirements of the Car Draw Committee in relation to such arrears or default, the Credit Union shall be entitled to substitute the prize for an equivalent cash prize and pay over to the winning member the prize less the deduction for any such arrears or payment of any money required to remedy any default. Any decision on this matter is at the discretion of the Car Draw Committee and their decision shall be final. Notice of such decision can be made by delivering same to the member in person or by posting same to the member by registered post, in which case the date of receipt will be deemed to be two working days after the date of posting.
  3. The make, model and colour of cars selected for all draws will be at the sole discretion of the Car Draw Committee. A cash alternative may be given in lieu of the car. The amount of the cash alternative will be at the sole discretion of the Car Draw Committee.
  4. Longford Credit Union Limited including its Board of Directors, Board Oversight Committee, Staff and Volunteers will not be liable for any defects or other failings found in a vehicle or other prizes supplied or for any damage or loss to the member or any third party howsoever caused, arising from the Longford Credit Union car draw.
  5. The Credit Union reserves the right at its sole discretion and without prior notice to alter any aspect of the operation of the car draw, to introduce new rules, revise all or any existing rules in any manner whatsoever or delete any existing rule.
  6. Any decision of the Board of Directors of the Credit Union concerning the foregoing rules or any matter arising from them or any other aspect of the operation of the car draw shall be final.