NI Presbyterian mutual society, Short of funds for withdrawal?

fivealive_2

Ballygal wrote: »

As I have already stated previously, i would be only too happy to meet up. :j
but i would be good for some teabags, coffee, milk:coffee: and a few fifteens or toffee squares to sweeten the talk !!!

Oh dear, look what I'll be missing.:drool:

Was talking to a local farmer earlier and he said that 4-6 weeks before the bubble publicly burst on the PMS another farmer came into his milking parlour and said "If you have any money in the PMS you need to take it out because they are in difficulty. I am taking mine out today."
I did not ask any names or which church because I would rather not know but I am shocked that even my own neighbours seemed to know what was going on before I did. :shocked:

eldivo

fivealive wrote: »

I did not ask any names or which church because I would rather not know but I am shocked that even my own neighbours seemed to know what was going on before I did. :shocked:

You should be shocked that your neighbours knew before the Directors did.:mad:

fivealive_2

goodbyepci wrote: »

If this was 4-6 weeks before the collapse early November then it calls into question the PMS/PCI spin that the "run" was caused by Gordon Brown's bank guarantee on 6th October?

:cool:

I know what you mean. His words to me were "I did not mark it in the calendar but I think that it was 6 weeks before I heard it in the news."
I then processed this as 4 -6 weeks to allow for "human error".
I would say that the end result for the PMS was caused by a combination of the bank guarantee and the fact that they were getting into bother. It might be hard to differentiate between the chicken and the egg.
:EasterBun

fivealive_2

fivealive wrote: »

Oh dear, look what I'll be missing.:drool:

Was talking to a local farmer earlier and he said that 4-6 weeks before the bubble publicly burst on the PMS another farmer came into his milking parlour and said "If you have any money in the PMS you need to take it out because they are in difficulty. I am taking mine out today."
I did not ask any names or which church because I would rather not know but I am shocked that even my own neighbours seemed to know what was going on before I did. :shocked:

My dearly beloved reckons that once a few farmers realised in early October that their money in the PMS was at risk that that information would have gone around in farming circles like wild-fire.
:whistle:

Lisburn

goodbyepci wrote: »

Lisburn
What does it say?

Is there an online link?

have checked www.presbyterianireland.org but could find no mention of PMS. The actual article expresses the 'personal views' of PMS Chairman from which it is clear that he is hiding behind the Administrator's coat tails. Its what happened before the Administrator took over is the important issue and its unlikely that we shall ever know the whole truth and nothing but the truth.

joylikes2shop

At the Treasury committee meeting I mentioned the issue of banks approaching PMS savers to inform them their money wasn't covered under the government guarantee scheme which possibly prompted the panic withdrawl of £21 million.

I do think this is another area we could focus some attention on.

If the banks did this, this would be highly unethical. And, if it came out that they did, it would give us huge leverage to press them into helping the PMS, say, with an interest free loan ???


Any thoughts ?

fivealive_2

In the Jan/Feb ’09 issue of the County Times, it states that Foyle MP MLA Mark Durkan has again written to the Prime Minister about the situation affecting Presbyterian Mutual customers throughout Northern Ireland.
Mark Durkan says “Back in November I wrote to the Prime Minister on behalf of local constituents who were caught up in the PMS difficulties. I also raised the matter on the floor of the Assembly and with the Minister for Enterprise, Trade and Investment.”

Folks, we need to keep the pressure on anyone of influence who will listen to us.

goodbyepci

http://www.uup.org/newsrooms/latest-news/assembly/savers-need-a-confidence-boost.php

ballyblack

Statement by the Welsh Assembly Finance Minister

"The importance of regional and community-based institutions such as Assembly Government-backed credit unions was one of the lessons of the credit crunch,"


http://www.southwalesargus.co.uk/news/4168745.Citizen_s_bank__could_aid_money_crisis____minister/

goodbyepci

http://www.sdlp.ie/news_item.php?id=8746