Members Car/Cash Draw

Below are the agreed terms and conditions for the Tipperary Credit Union’s Members Car/Cash Draw.

1. The entrance fee of 24 euro per annum (pro rata for part draws) per member will be deducted in advance from savings (€4 deducted in advance per draw. Deductions to be made on the day of the draw) or as defined from time to time by the Board of Directors. Funds collected per draw will be credited to a special car/cash draw account in the credit union.

2. All monies collected for each draw will be distributed in prizes, 1st Prize will be a car (value of car agreed by Board at the beginning of each calendar year).

3. The make and model of the car will be at the sole discretion of the Board of Directors.

4. The Board of Directors, Staff and Volunteers of Tipperary Credit Union will not be liable for any defects or otherwise found in a vehicle supplied.

5. Participation in the draw is limited to eligible members of Tipperary Credit Union Limited and they must be over 18 years of age on or before the draw date. This
requires both entrants in the case of joint accounts to be over the age of 18. All eligible Tipperary Credit Union members can join the Car/Cash Draw and this includes management and staff, volunteers (including Directors, Boards Oversight Committee) and their related parties.

6. Entry will be limited to one entry per account. Members with multiple accounts are permitted to enter multiple times subject to the one entry per account rule and the standard fee per entry. In the case of joint accounts the prize will be awarded to both members of the account.

7. Clubs/Society & Community Group accounts may enter the draw. In the event of such a group winning, the prize will be awarded in the Group name.

8. If a member has a loan on their main share account then a certain amount of their shares will be pledged to this loan. Draw deductions are not permitted from pledged shares so it is the responsibility of the member to ensure sufficient funds in excess of the pledged share balance are maintained at all times for deduction of the €4 per draw.

9. It is the member’s responsibility to ensure that sufficient funds are in place at the relevant time to enable their entry to be included. The Credit Union has no obligation to notify members with insufficient funds in their account.

10. Winning members will be notified personally by phone and by post. Winner’s name will be made public, with the winner or their representative required to attend a photoshoot – to be used for publicity purposes and on social media, print media, in-store advertising and our website.

11. Winning member accounts will be selected randomly using a random number selection program built into the credit unions core system. Prizes will be selected in
the following order 1st Prize (Car), 2nd Prize , 3rd Prize etc. Only eligible Tipperary Credit Union Car/Cash Draw Member accounts are included in the selection file. All draws will be held in a Tipperary Credit Union office under the supervision of at least one member of the Board of Directors, one member of the Board Oversight
Committee (if unavailable a second member of the Board of Directors may substitute), one member of Credit Union Management and if suitable (covid rules etc)
one Independent third party/member (cannot be a staff member or volunteer). Note: In exceptional circumstances (Pandemics , Covid 19 etc) a car draw selection may be held with a minimum of 3 staff present – 2 of which must be members of the credit unions management team. Those present at the draw will verify the draw was run in accordance with the draw rules and verify the winning account/member.

12. Membership of the draw must be completed prior to participation and no entry is valid unless full fees are paid and credited in advance.

13. All legitimate expenses and overheads relating to the setting up and operation of the draw will be borne by the draw.

14. A registrar of entrants will be maintained at the Credit Union Offices.

15. At the end of the financial year the Financial accounts for the draw be audited by the credit unions external auditor and a report prepared and include in the A.G.M. Report.

16. The draw will be non-profit making.

17. The draw will be an on-going project, subject to sufficient members subscribing to fund the purchase cost of the first prize (car) .

18. In the event of insufficient entries, the draw may be suspended or discontinued; alternative prizes may be given at the direction and discretion of the board.

19. Notification of election to participate in the draw must be received in writing by the credit union prior to the commencement of the draw and will remain in force for all subsequent draws

20. In the event of a deceased member winning any prize in the draw in order to win that prize, the member must have been alive at the time of the draw (alive when the automatic payment was deducted from their credit union account). The prize will be awarded to the member and the proceeds passed to the member’s estate, provided the member satisfied all terms and conditions of the draw. If however the member was deceased at the time of the draw (the member is deceased when the automatic payment is taken from their account), then the draw shall be deemed void and another draw will take place. The fee for said draw that has been automatically taken from the deceased member’s account pertaining to the car draw will be refunded back to the account.

21. In the event that a prize winner is a person who is in arrears, or in default in carrying out any financial obligation to the Credit Union, the Board of Directors may make a decision to withhold delivery of the prize won by the member until the arrears have been paid or the default has been rectified. Such decision of the Board of Directors will be notified in writing to such member. If within seven days of the member being notified, he/she has failed to comply with the requirements of the Board of Directors in relation to such arrears or default, the Credit Union shall be entitled to pay over to the winning member the net proceeds after deducting any such arrears or paying any monies required to remedy such default. “In Arrears” is defined as being in breach of a contracted loan agreement.

22. To cancel membership to the car draw, a member must fill out a cancellation form.

23. By joining the member car/cash draw, all entrants consent to the transfer of their personal data to the credit union for the purposes of the administration of this scheme and any other purpose to which the entrant has consented.

24. Only Motor Dealers, with up to date insurance, financial accounts and tax clearance are eligible to supply cars to Tipperary Credit Union. In the event that the winner of the car prize wishes to take the car, then it is the winner’s responsibility to deal directly with the supplier of the vehicle. The winner of the first prize (car) has the option of taking the car, trading up for a higher spec / value car, or taking the cash value of the car as determined by the Board of Directors (see point 2), less motor dealers realistic expenses. If a cash equivalent is accepted by a member in Lieu of a car won in the draw the cheque must be lodged to the members account. All cash prizes will be issued to prize winners in the form of a cheque and these cheques must be lodged to the members account.

25. The decision of the Board of Tipperary Credit Union Limited concerning the foregoing rules or any matter arising from the members car/cash draw will be final and not subject to appeal.