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Credit Union Have Been Holding Father Ted-Like Car Raffles Report Reveals

By Darragh Berry

March 9, 2018 at 8:38am


The Irish Independent is reporting that The Central Bank has found a fault with many of the Credit Unions Car draws. 

They found that the Credit Union was earning large amounts of money from these draws but that there was very little documentation. 

Staff members and directors were allowed to enter the draw and it was found that nearly one in three of those won the top prize of a car in the draws. 

These draws took places over the period of October 2014 to March 2017.

The report found that: “Draws were conducted by staff, who were eligible to enter the draw, with no independent oversight present.

“In some credit unions there was poor record keeping on the disbursement of prizes to winners, and copies of correspondence to members were not retained on file,” the Central Bank report found.

We feel like we've heard about something like this before...

"The last raffle I was at was very interesting because the people who ran the raffle actually won it. So, it's not unusual for that to happen."

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