NI Presbyterian mutual society, Short of funds for withdrawal?

fivealive_2

Wish I was up in Belfast with the rest of you.
This is what was reported this morning:
http://www.belfasttelegraph.co.uk/opinion/viewpoint/presbyterian-mutual-society-anger-in-church-over-cash-crisis-14321689.html

http://www.belfasttelegraph.co.uk/opinion/troubled-mutual-society-to-be-the-dominant-issue-for-presbyterians-14321692.html

http://news.bbc.co.uk/2/hi/uk_news/northern_ireland/8075929.stm

http://www.irishtimes.com/newspaper/ireland/2009/0601/1224247818236.html

http://www.newsletter.co.uk/news/PMS-savers-urged-to-protest.5319739.jp

http://www.newsletter.co.uk/news/PMS-savers-to-protest-at.5310689.jp

Nomad25

Guys I think we have a troll

Dans18

on board. Don't feed it.

freddiemae

Congratulations for the good TV coverage of your protest which looked angry but controlled and dignified.

I think it got the message across well.


It certainly didn't say "doormats are us"

sickasaparrot

It is essential to keep the pressure on the british government - the next two weeks are extremely important-

letters / emails are having an effect on the politicans

please, please write to :-

Gordon Brown -

John McFall-


keep letters short, to the point and include personal circumstances.

your letters will make a difference

fivealive_2

I have just sat and watched all 30min of UTV Live Tonight (for the first time ever) as I was waiting for all the PMS stuff.............it was NEVER MENTIONED????????
There was a long slot about Susan Boyle, they even interviewed people on the streets of Belfast about her and she isn't even from Norn Iron but NO mention of the PMS.:eek:
Has Church House GAGGED the media????????? :silenced:

Dr._Who_2

Just been looking at PCI website and General Assembly - a "Supplementary Report" is now available - this details additional information to be added to various reports.
Under General Board in relation to PMS there are three Additional resolutions - two of these call on NI Executive and UK Government to help PMS savers: the third requests that the General Board be given authority to take whatever steps might be necessary to help savers, following the General Assembly adn the next Adminsitrators report. I should imagine that this is preparing the ground should the next vote be in favour of the loan note holders - it is possible in that scenario that PCI will "front up" to help shareholders.

PCI Website - Click on "General Assembly" and then on "Supplementary Reports" - scroll to page N

I think that these new resolutions indicate that Someone, Somewhere is Waking Up to the fact that Some people in PCI are HACKED OFF, a bit!!

joylikes2shop

Quick update on this evenings 'public awareness campaign'

My guestimate ,100 people in the crowd ?!?!

I spoke to people who had travelled from Londonderry,Limavady,Newtownards,Bangor,Belfast.

PCI Communications Secretary Stephen Lynas came out of Church House and tried to answer questions put to him by the waiting crowd.

The new Moderator - Dr Stafford Carson - spent a few minutes answering questions before he headed in to the meeting.

I believe that when Dr Carson mentioned- during his speech -that his own church had a substancial sum in the PMS,and that he would therefore have a personal interest in the PMS,he got a round of applause from those in the gallery.

For anyone planning to attend tomorrow, we were told that we could not bring any placards,signs,notices inside the building...we could use them OUTSIDE...but not inside the GENERAL ASSEMBLY MEETING.


For anyone who knows how to ..you can twitter the General Assembly (I don't know if I'm even saying this right !!!)
http://twitter.com/pciassembly (see PCI homepage)

ballyblack

Has Church House GAGGED the media?????????

It was on earlier with good coverage;

UTV at 6 pm and BBC1 at 6.30 pm

fivealive_2

Dr._Who wrote: »

Just been looking at PCI website and General Assembly - a "Supplementary Report" is now available - this details additional information to be added to various reports.
Under General Board in relation to PMS there are three Additional resolutions - two of these call on NI Executive and UK Government to help PMS savers: the third requests that the General Board be given authority to take whatever steps might be necessary to help savers, following the General Assembly adn the next Adminsitrators report. I should imagine that this is preparing the ground should the next vote be in favour of the loan note holders - it is possible in that scenario that PCI will "front up" to help shareholders.

PCI Website - Click on "General Assembly" and then on "Supplementary Reports" - scroll to page N

I think that these new resolutions indicate that Someone, Somewhere is Waking Up to the fact that Some people in PCI are HACKED OFF, a bit!!

Thanks Dr Who, but it actually took me ages to navigate my way around the PCI web-site to find the relevant bit:
http://www.presbyterianireland.org/assembly/gadownloads.html
Scroll to the end of this page and click Supplementary Reports and go to page 13 and you should find this:
4. Presbyterian Mutual Society

1. The panel appointed by the General Board continues to meet and to give advice and support. It is now clear that the Administrator will not give his second report until after the General Assembly. When it is issued there may be some more clarity of time-scale. The frustration of waiting is felt by everyone, but most acutely by those who do not know how much of their money will be returned. The delay is exacerbated by the uncertain response from government to the requests from many sources for action similar to that offered to other UK savers. The Moderator, and others from the Church, have been tireless in their efforts to engage with politicians and opinion-formers both here and at Westminster. While there are hopes of some progress, the situation at the time of writing is still unclear.

2. The panel recognises that while it must be prepared for all outcomes, the vital decisions at the moment will be made by others. The government, both at Westminster and Stormont, must give a definitive view as to its role and responsibility under the Industrial and Provident Societies Act (Northern Ireland). The Administrator must decide if the creditors are to be given an opportunity to restore mutuality. These seem to be the crucial preliminary decisions in seeking a way forward. The panel will, however, continue to explore all options.

3. No-one should underestimate the hurt and frustration felt by many who see much of their life-savings at risk. At the very beginning of this crisis ministers were asked to ensure that people who are suffering know the interest and pastoral concern of the Church. That is still the unique contribution the Church can make in a devastating and tragic situation for so many.
Additional Resolutions – General Board

Moderator’s Advisory Committee

8a. That the General Assembly, concerned for the well-being of many of its members who are savers in the Presbyterian Mutual Society, call on the Government of the United Kingdom to take urgent action in their support.

8b. That the General Assembly call on the Northern Ireland Executive to do all in its power to resolve the difficult situation for savers in the Presbyterian Mutual Society.

8c. That the General Assembly authorise the General Board to take all the appropriate decisions which need to be made before the next Assembly in support of savers in the Presbyterian Mutual Society.

DJ WATTS

Sorry for such a long post.

crazymess

From Will C blog site

We put our money in the PMS because of all of the literature promoting us to do so - "Save within your Church" - "its in the Church's interest and yours".

The PMS grew out of the Rural Settlement Trust and the links between the two were very evident around all of the Church - Ministers too promoted us to save within our Church.

We were not investors - we were savers who were willing to share our savings for the benefit of the Church - to help create a line of credit for the building of the church. We did not ask for our savings to be lent out to Builders! We helped build and extend approx 460 churches and this is the thanks you get!!

The savers are the victims here - It was a �1 in and a �1 out with interest - we did not receive any increase on our capital in the event of a normal wind-up - the PCI received the surplus - they were the beneficiaries - and of course in the event of a bad wind-up there is no help forthcoming from the PCI to help with the deficit - very strange - in fact there is no consistency on this very issue throughout the Church.

Remember - approximately 60% of the savers are of pension age - they and we all believed it to be a part of the Church - the elderly especially look up to their Ministers and believe all they hear from them.

This is affecting approximately one quarter of regular church attenders as there are many congregations, bible clubs, choirs, presbyterian women etc who have their money involved.

It is now time after seven months of pain for 10,000 savers - for the church to morally deal with this - whilst Government help would be the best answer and questions need to be raised on the lack of regulations for this financial institution in NI (DETI) - the church cannot say that the Government morally need to resolve this and not take the moral view themselves!

Surely the PCI with their large income and spare income can service a loan secured on their buildings to resolve this issue. It is a problem for all Presbyterians.