NI Presbyterian mutual society, Short of funds for withdrawal?

expat68

Hmmmmmmmmmmm....

http://www.discovernorthernireland.com/news/Church-House-receives-1m-grant-N18949936

£1m is just so difficult to find - perhaps Stafford and Sammy could agree that these funds are diverted for the current time and the people at Church House limit the refurbishment to just the £4m. Just a thought......

brick

totallyletdown wrote: »

What exactly is happening, who is going to get what back when ?

As I understand it, the detail is not public yet. Perhaps known by Stormont ministers, but not yet shared in detail with PCI - certainly not the detail surrounding the "hardship fund" bit.

General sentiment seems to be that "loan" savings will likely be retuned in full, with interest, in not too distant future, whereas unfortunates with "share" savings will need to apply demonstrating personal hardship to get any of their "share" savings back.

At least that's how I read it.

So if you have other sources of finance enabling you to pay your bills, your so-called "share" savings are currently looking decidedly dodgy.
Hands-up anyone who had the "share" v "loan" distinction, and potential ramifications, spelled out to them when depositing...

D.A.

They could do with a resolution 9:

The Assembly resolves that this sort of fiasco must never happen again and that a task force is appointed to ensure that every aspect of the work of PCI is conducted professionally, remembering that the money which funds it is given out of the generosity of members of congregations and must always be properly accounted for.

joylikes2shop

I wasn't able to attend the meeting at Church House today and have been unable to view the video link on the PCI website...was it only available for viewing as it happened live ??? [URL="mhtml:{38CE146B-7807-40D9-983E-6CAEBF96172E}mid://00000028/!x-usc:http://stream.pcinet.org/"]http://stream.pcinet.org/[/URL]

Earlier I posted any available online links that I'd found, and I've just come across the following link which shows Stafford Carson's opening address...


[URL="mhtml:{38CE146B-7807-40D9-983E-6CAEBF96172E}mid://00000028/!x-usc:http://www.staffordcarson.com/2010/04/special-general-assembly/"]http://www.staffordcarson.com/2010/04/special-general-assembly/[/URL]



In the above link Rev Carson states ''I want to say a word of thanks to the staff in the PMS office'' ...

Having spoken to members of staff in the PMS office myself a few months ago, and having heard about the sort of 'verbal abuse and threats' that they'd been receiving, I would like to remind everyone that not all staff in the PMS office knew how much trouble the society was in until it was too late... I believe that the current staff are possibly as much 'in the dark' as everyone else and refer to this site for current information.As far as I can gather, they are employed by the Administrator to continue working in the PMS office...which is totally separate from the Administrators office... and they are not necessarily privy to any more information than the rest of us.I'm sure the majority of savers,as Rev Carson stated in the above speech, 'are not the type to write letters or make phone calls' but I also feel that the remaining PMS staff deserve recognition,support and thanks for their work - in very difficult circumstances - for the last year and a half.

Perhaps the Administrator will update the PMS website soon in lieu of today's developments and the questions it has raised.

amadan22

have a look at http://news.bbc.co.uk/1/hi/8617345.stm last 4 or 5 paras should have a few rather quiet people requiring a change of under garments.

joylikes2shop

Newsletter are due to be doing a 4 page special feature today, following yesterdays meeting.

&

http://www.irishtimes.com/newspaper/finance/2010/0414/1224268308842.html

just

I was in the public gallery yesterday for the meeting at church house. At first I was impressed with the words the moderator spoke and the gentleman that talked about the resolution no.7 should be amended to add to read " the general assembly agree in principle to contribute AT LEAST £1million to the hardship fund." Then it saddened me to hear the view it should not be changed incase they were asked to to give more, say £5 million. Hence the words "at least" were not added. I thought the Presbyterian Church was a caring christian church. The impression I got was we (PCI) will contribute the least amount that we can get away with. I hope the goverment does not have the same attitude. Is this the attitude we should have. Just as PCI tried to say the PMS was nothing to do with them when this mess came to light. Don't take any responsibilty unless you are forced to. I wonder if we put in our FWO envelope every Sunday morning the least amount we could get away with would this be the caring christian attitude?

ballyblack

http://www.newsletter.co.uk/news/39Rescue-package-is-as-good.6223979.jp

BETRAYED

I have been asked to postpone my proposed information day in Ballymena on 24 April for shareholders of PMS until after the Westminster Election.
In view of the uncertainty prevailing at present I have agreed.

goodbyepci

http://www.newsletter.co.uk/news/Church-agrees-to-1m-PMS.6224287.jp