NI Presbyterian mutual society, Short of funds for withdrawal?

goodbyepci

Looks like PMS may get a mention on Sunday Sequence again tomorrow

http://oconallstreet.com/2009/03/07/church-communications/

crazymess

So all the PMS savers then thought PCI were distancing themselves when they explained that it was legally separate from PCI in November and since. PCI thats exactly what you did and are still doing - taking the legal angle and denying your responsibility.

Well then PCI why did you not make this clear over the last 26 years and stop suggesting we save with the PMS and also promote the PMS in your literature!

BelfastGran

I do wish the Presbyterian Church had made it clear that they were not connected to the Presbyterian Mutual Society when it was advertised in the Presbyterian Herald I most certainly would not have put my life's savings in it, I feel very much mislead !!!!

Nomad25

Far be it for me to interfere - but have you PMS savers actually made any firm arrangements yet to meet up/organise yourselves with a view to proceeding with something more formalised? If so, the word needs to be spread.

God helps those that helps themselves peeps.

sickasaparrot

According to this months Herald, there are over 25,000 signatures (both online and paper)on the "save the mutuals" petition.

sickasaparrot

The following is an extract from this month’s Presbyterian Herald following a meeting of the General Board. The article is three pages long.


Rev. Shaw Thompson, minister of First Dromara and a Director of the Mutual Society, who had earlier asked questions concerning the relationship between the Society and the Church was annoyed at how the Church has distanced itself from the Society. “I am confused” he admitted, “ had I ever thought that I was not serving the Lord on the Board of PMS I would never have taken up the opportunity”.


While paying tribute to the support from politicians of all parties, ministers in the N.I. Executive and encouraging support for the Administrator, Mr Shaw’s concern for the Society and its shareholders was clear. “It pains me to think of even the possibility that anyone will lose a single penny in this but I trust and I hope that, given time and given the support of everyone in our Mutual Society and our wider Church, this situation can be redeemed. There are 9700 account holders in our Mutual Society and I feel responsible to everyone”.


Mr Thompson’s hope that the Society could be re-established in some form was echoed by another member of the Board. “I think it’s vital to the Presbyterian Church to have the Society which we thought we had, where people with money that they don’t need can have it held securely but available for work within the Church. We should make every endeavour to try and get it re-established”.

Looks like we were not the only ones mislead by PCI/PMS connection – sounds like Rev. Thompson has been too !!!!!!!!!!!!!!!!!

Anyone remember PMS advertising for us to invest money WE DIDN’T NEED as mentioned by the unnamed Director?????

sickasaparrot

Donald Watts. (taken from same article in Herald as post #1575)

In presenting the report to the General Board, Clerk of the General Assembly Rev. Donald Watts dealt with this issue (relationship between PCI/PMS) and particularly why the Society had “reported” to the Assembly each year and a supportive resolution passed. “What I think was not clearly understood is that the Society is in no sense accountable to the General Assembly. The Church does not appoint any of the Directors, nor should it if the Society is to be truly mutual. One of the Directors, for largely historical reasons, has been given the opportunity each year to report to the Assembly on the activities of the Society, but that report does not include a copy of the accounts, nor the Auditor’s statement, not any indication of the policies of the Society with respect to loans, liquidity, or any other issues. On these matters the Society has to satisfy the Auditors, and to an extent, which is not entirely clear, the Department of Enterprise, Trade and Investment. “

If as Dr. Watts says the General Assembly did not look at the accounts, nor the Auditor’s statement or had any indication of the policies of the Society with respect to loans, liquidity, or any other issues, why did the General Assembly agree to pass the following resolution in 2008?

“That the General Assembly congratulate the Directors of the Presbyterian Mutual Society on its continuing success and encourage congregations and individuals to avail themselves of its services.”

Seems to me that Dr Watts is admitting that the General Assembly were encouraging us to use the ”services” of PMS without having done any research into whether or not it was a safe well managed Society!!!!!!!!

goodbyepci

Who is Chairman of the PMS Directors
Rev Sidlow McFarland or Mark Orr?

fivealive_2

goodbyepci wrote: »

Who is Chairman of the PMS Directors
Rev Sidlow McFarland or Mark Orr?

The 2008 Annual Report states that Rev S. mcFarland is Chair-person and Mr H. Mark Orr is vice-chair.

crazymess

Think that Rev S McFarland - resigned and M Orr is now Chairperson or was until 18th November.