NI Presbyterian mutual society, Short of funds for withdrawal?

Lisburn

Thanks a lot. Your report is much better than what the media reported. Not surprised that Donald Watts said nothing. Has anyone seen the March issue of the Presbyterian Herald ref. PMS - pathetic to say the least. Also where was the Moderator to-day. I understand he is back from Hungary.

goodbyepci

Lisburn wrote: »

Not surprised that Donald Watts said nothing. Has anyone seen the March issue of the Presbyterian Herald ref. PMS - pathetic to say the least. Also where was the Moderator to-day. I understand he is back from Hungary.

Lisburn
What does it say?

Is there an online link?

non_member

joylikes2shop wrote: »

My experience at todays Treasury Select Committee at Stormont (please bear in mind I have the memory of a gold fish so hopefully this is all in the correct order without leaving out anything of major importance.)

I only knew about the meeting at Stormont today thanks to Bigcammy’s post this morning. I went along not sure what to expect, but probably hoping to meet and chat to some other PMS investors and possible some others from this thread.:D

There were approx 40 people at todays meeting They were there for a variety of different reasons – mainly to explain why they were not happy with their bank (I hope this is a fair synopsis of the non PMS information ):rolleyes:

The first person to raise the issue of the PMS outlined the situation and said he wanted to make a ‘simple plea’ to the government to throw the investors a ‘lifeline’. John McFall replied that the issue of the PMS had been brought to his attention by local politicians as well as having received letters from individuals.

The second person to raise the issue of the PMS referred to the help the government had given to in the past to the Icelandic Bank and Northern Rock (I THINK !!) He mentioned cases he was aware of where people were suffering because they had no access to their savings. A woman in a nursing home whose fees were paid for from money in the PMS- the family were now having to find the money from somewhere else to make these payments to the nursing home. He also mentioned knowing someone with their money in the PMS but who was now unable to pay the builder who was building their new home.

John Dunlop who introduced himself as a retired minister was the next person to raise the issue of the PMS. He described the situation as being ‘’an acute human problem’’ and mentioned twice that ‘’the PMS is associated with the church, but not accountable to the church’’

After these things were mentioned one of the committee guys (sorry…didn’t get his name) asked ‘’Why did this happen’’…he then went on to ask questions that were something along the lines of ….was it because they (PMS) opted out of the scheme, or because of bad lending or was it caused by the government guarantee scheme? At this point it was suggested that he should look into the situation more to familiarise himself with the situation instead of asking ‘us’ the questions (cant remember who said this…..possibly John Dunlop )

Father Tim Bartlett took the microphone to make raise his issue, but before he spoke about it he said ‘I’d like to offer my support to the PMS investors’, he also said people are looking for ‘’fairness and balance’’


AND THEN I TOOK THE MIC !!!

I felt that the more times the PMS was mentioned the better….

Firstly I mentioned the fact that it would appear some bank managers were approaching customers advising them that their money wasn’t ‘safe’ in the PMS and suggest they move their money.

Secondly I mentioned that this situation wasn’t one just affecting Presbyterians. I mentioned that there was a knock on effect, affecting non-Presbyterians as well eg builders weren’t able to be paid and nursing home fees caused because people had no access to their savings.

The third issue I raised was one of a support or help group for PMS investors. I explained that there was nothing in place and it was difficult for investors to get in touch with each other. I asked the committee if this was an area that they could help with. It was at this point that they agreed that ‘‘you should be able to set something up on line.’’ John McFall then went on to say that a support group serves many purposed. Not only for sharing information but also to offer some comfort or counselling to other members. He ended by saying ‘’If you want to get in contact with me or the committee we should be able to help you because we’ve been involved in the setting up of some other support groups in the past’’

When we were leaving the room John Dunlop waited for myself and the other PMS investors. He introduced himself and shook my hand (good handshake by the way) and then introduced me to Donald Watts. We then all left the room. I had a quick chat with the other two investors, and asked if they were familiar with this site. They weren’t, so I’ve given them all the details and hopefully we’ll have 2 new ‘lurkers’ joining the ranks.:wave:

Some contributors to this forum may care to add their comments to an entry under the title "Can you feel the force" on the BBC website found at
http://www.bbc.co.uk/blogs/thereporters/markdevenport/2009/02/can_you_feel_the_force.html

The contributions on this subject on the bbc blog are not supportive to the plight of PMS investors

goodbyepci

Link to John Dunlop on Stormont live yesterday on iplayer
36 mins into broadcast

http://www.bbc.co.uk/iplayer/episode/b00j0gbw/Stormont_Live_02_03_2009/

At the start of the programme there is a bit of the session with the Treasury committee

goodbyepci

http://www.belfasttelegraph.co.uk/news/local-national/small-businesses-and-mutual-investors-tell-mps-of-financial-woes-14210308.html

goodbyepci

http://www.newsletter.co.uk/news/PMS-shareholders-urged-to-set.5030880.jp

sickasaparrot

http://www.newsletter.co.uk/news/PMS-shareholders-urged-to-set.5030880.jp

sickasaparrot

Great minds think alike !!

goodbyepci

sickasaparrot wrote: »

Great minds think alike !!

The PMS action group..............in action!
:beer:

crazymess

crazymess wrote: »

What about a meeting for all of us that have been on this site for three and half months - also a few others if interested.

We could get some of the pro-active people to speak to us - I have a few names of people that have been doing a lot of work in the background.

We could all pay say £1 at the door and this would cover the venue costs!!!!

I think I know a centrally located venue - not too expensive - we might even get a cup of tea!!!

We could say have the Newsletter and maybe tv cameras just to bring to light our situation again!!!!


These are just suggestions - we don't want a bickering session just a constructive one.

Comments please

WHAT ABOUT THIS MEETING THEN??????????

Really what are we doing? Surely its time to meet!