In light of the various reports regarding Credit Union car draws we would like to reassure our members of the following:
1. The draw has been in place in Longford Credit Union since 1998 and to date NO staff member, volunteer or Director has won in the draws. To date, only one former Director has been a lucky winner in the draws.
2. All our draws are held in our branch and are overseen by an independent external adjudicator to ensure that the selection... process is fully transparent.
3. Our car draw is non-profit making and completely self-financing. All money generated through entry fees are used exclusively in the purchasing of the prizes and in the payment of expenses incurred solely in respect of the draw.
4. All deductions are recorded on each member’s statement. Statements are available to members at any time on request.
5. All members are required to have completed a written application form prior to having money deducted from their accounts.
6. Members are free to withdraw from the draw at any time.
7. Our external auditors carry out a full review of the process annually. We have also requested that our internal audit review the car draw on a periodic basis.
8. Each year the board of Directors nominate a car draw committee who are assigned responsibility for the running of the car draw.
9. We publish all our winners on local media and on our Facebook page.
10. Longford Credit Union does not make any financial gain from the operation of the draws.
We hope that all our members are fully reassured and will continue to enjoy their chances of winning any of our draws.
If you have any further questions, please do not hesitate to contact us.