Members Quarterly Cash Draw

The draw is non-profit making with all proceeds being paid out by way of prizes to members, excluding administration costs.

Who can enter the Members Quarterly Cash Draw?

All members who are over 16 can enter the draw, subject to one entry per member.

What are  the prizes?

We plan to give away four prizes totalling £25,000 (1st: £10,000, 2nd: £7,000,  3rd: £5,000  4th: £3,000) per quarter with the possibility of other prizes from time to time. The Members Cash Draw will be self- funding, non-profit making and an ongoing project, providing sufficient members subscribe to fund the cash prize.

How much will it cost?

The cost to subscribe is currently £10 per quarter (77p / week). This amount will be deducted from your shares on the day of the draw.

How do I enter?

Simply complete the attached application form and return it to the credit union.

When  will the draws take  place?

Draws will take place on a quarterly basis with draws being held in public and witnessed by at least one member of the Board of Directors or one member of the Supervisory Committee.

PRIZE FUND

£25,000

  • Prizes
    • 1st £10,000
    • 2nd £7,000
    • 3rd £5,000
    • 4th £3,000

FOR ONLY £10 PER QUARTER

Application Form

I wish to be included in Ballinascreen Credit Union Members Quarterly Cash Draw. I herby authorise the deduction of £10 / quarter from my shares until further notice is received from me in writing. I have read the terms and conditions and herby agree to be bound by them

Terms and  Conditions for Members Quarterly Cash Draw

  • Participation in the draw is limited to members of Ballinascreen Credit Union who are over 16
  • The cash draw will continue quarterly until the Board of Directors deem otherwise
  • Entry is limited to one entry per member The subscription is £10 / quarter which is taken from the members share balance on the day of the draw
  • It is the responsibility of the member to ensure that sufficient funds are in place to enable their entry to be included in the draw
  • All draws will be held in a public location on a date specified by the Board of Directors. The date and location of the draw will be advertised in the credit union at least one week preceding each draw
  • In the event that insufficient members subscribe to the draw, it may be suspended, amended or discontinued at the discretion of the Board of Directors
  • The draw is non-profit making. Any surplus funds will be disposed of by way of additional prizes at the sole discretion of the Board of Directors.
  • All legitimate expenses and overheads relating to the setting up and operation of the draw will be borne by the draw
  • Where there are multiple draws for prizes, the order of the draw will be predetermined by the Board of Directors
  • The winning member(s) will be notified and the winners name(s) will be displayed in the credit union office. Winning members are expected to participate in photographs for publicity purposes
  • In the unlikely event of the winner being in default of any financial commitment in the credit union, the delivery of any prize may be delayed until such default is rectified and if necessary the prize may be used to meet such commitments with the remainder paid to the winner
  • In the unlikely event of the winner being in default of any financial commitment in the credit union, the delivery of any prize may be delayed until such default is rectified and if necessary the prize may be used to meet such commitments with the remainder paid to the winner
  • Audited financial accounts of the Draw Fund will be presented to the Annual General Meeting of Ballinascreen Credit Union as part of the annual accounts of the Credit Union
  • The decision of the Board of Directors concerning the interpretation of the foregoing rules on any matter pertaining to the draw will be final and not subject to appeal
  • Credit Union officers directly involved in the operation of the quarterly draw are prohibited from entering