Member's Monthly Car Draw

The draw is self-financing- all of the amounts subscribed by members less small administrative expenses are paid out in prizes. The draw is published on the first Saturday of every month in Credit Union Plus unless the Board of Directors of Credit Union Plus (hereafter called the Board) deem otherwise, and will be supervised by members of the Board and the Board Oversight Committee or the external auditors of Credit Union Plus Ltd.

All entrants must be over 18 years of age and participation in the draw is limited to members of Credit Union Plus. There may only be one entry per account.

An Application and Authorisation Form for entry to the draw must be completed in full prior to participation, no entry is valid unless the member’s ID and proof of address has been validated and the entrance fee is paid in advance. Entry to the car draw implies acceptance of these rules as being final and legally binding. A register of entrants is maintained at the Credit Union Plus offices. Members who do not wish to remain in the draw must notify Credit Union Plus of their intention in writing. Members cease to participate in the draw on death or on the closing of their account with Credit Union Plus.

The entrance fee is €1 per week which is collected quarterly in advance or as defined from time to time by the Board. This requires a minimum cleared balance of €23 at the beginning of each quarter. Members joining the draw after the commencement date will participate from the beginning of the following quarter. A member is ineligible to enter the draw if there are not available funds in their account to meet the quarterly subscription or if there are any arrears or default of payment on their account. A member deemed ineligible to enter the draw at any time must complete a new car draw application form to re-enter the draw.

Winning members are promptly notified in writing and by phone and their names and photographs may be published in the local media, social and digital media, publications and displayed in Credit Union Plus branches. Prize winners must provide up to date ID & address verification if not already on file before any prizes are paid out.

The make and type of car or other prize is at the sole discretion of Credit Union Plus. Cash may be given in lieu at the discretion of Credit Union Plus.

Credit Union Plus, its Directors, Volunteers or Employees are not liable for any defects, mechanical or otherwise that may be found in the vehicles or other prizes supplied. Cars supplied are subject to the normal warranty issued by the manufacturers.

Board Directors, Board Oversight Committee, Volunteers and Employees are eligible to enter the draw just like any other member.

Employees that perform administrative duties for the monthly draw are not eligible to enter the draw for the duration that they perform this function.

Financial accounts for the draw fund are presented to the Annual General Meeting each year. The draw must be self-financing and non-profit-making. Any surplus funds are disposed of by way of extra prizes. The legitimate expenses and overheads of the draw will be borne by the draw fund. The Car Draw funds must be accounted for and audited by both internal and external auditors, who review all transactions in the prize draw.

In the unlikely event of the winner being in default of any financial commitment to Credit Union Plus, the delivery of the car or any other prize may be delayed and if necessary, disposed of in order to meet such commitments and the net proceeds, if any, paid to the member.

The Board of Directors of Credit Union Plus must approve any changes to the draw rules. A decision of the Board concerning these rules or any matter arising from the monthly draw is final and not subject to appeal.

An independent observer attends all draws and the car draw administrator and the independent observer sign the results at the conclusion of each draw.