NI Presbyterian mutual society, Short of funds for withdrawal?

crusty_toenail

The presbyterian Church owns so much property/land in Northern Ireland - take Ballymena as an example - the church owns half the main street that operate as commercial premises etc

Back in 2006 a friend of mine told me he had his money in the PMS and was getting a rate of around 10% interest, but you had to be a member of the Presbyterian Church to use the PMS.

So, legally separate entities they may be, but no other way.

Why doesn't the presbyterian church sell some of its land/property to bail out these savers? It was obvious to the dogs on the street property/land in NI was in bubble territory, these directors of PMS made mistakes - yes - but the church should do the right thing - What Would Jesus Do?????????

D.A.

There is absolutely no way the Presbyterian Church in Ireland, as a corporate body, owns half the main street of Ballymena. Individual congregations may well own property there, but for goodness sake, start getting your facts right before you come on spouting these kind of things.

crusty_toenail

D.A. wrote: »

There is absolutely no way the Presbyterian Church in Ireland, as a corporate body, owns half the main street of Ballymena. Individual congregations may well own property there, but for goodness sake, start getting your facts right before you come on spouting these kind of things.

The presbyterian church in ireland - i know exactly what they own in terms of property and land this is a FACT, re Ballymena. I work in the financial sector and it is a widely known FACT.
I am not the sort of person that comes on to forums and spouts untruths with 4 young children screaming for my attention I have better things to do with my time.

I am a Christian and I am just asking a simpe question 'what would Jesus do'.......??? Maybe some prebyterians on here can enlighten me????

BETRAYED

D.A. wrote: »

There is absolutely no way the Presbyterian Church in Ireland, as a corporate body, owns half the main street of Ballymena. Individual congregations may well own property there, but for goodness sake, start getting your facts right before you come on spouting these kind of things.

As I understand it Wellington Street (Ballymena) congregation did or may still own several shop properties at the top of Church Street Ballymena (Broadway).
That congregation vacated their Wellington Street building some two years ago and are now worshipping in a new Church building off Galgorm Road Ballymena (Sourhill Road).
The Church and Congregation is now Known as Wellington.
Whilst their new Church was being built PMS in which they had substantial funds for building work went into administration.

The builder comleted the new building and I am told that the congregation had to take out bank loans to pay him.

The congregation meantime were selling their old church and attached halls.
This sale must not have gone through because a recent 'For Sale'
sign has gone up on the property.

This is one example of how even a congregation as well as its PMS savers members were affected by the PMS debacle.

As regards what the 'corporate body' PCI owns see 2010 General Assembly Annual Report

Value of Investment in Trusts 40.39m

Property I know about.

Church House Belfast
Assembly's College Belfast
Castlerock Youth Centre

D.A.

crusty_toenail wrote: »

The presbyterian church in ireland - i know exactly what they own in terms of property and land this is a FACT, re Ballymena. I work in the financial sector and it is a widely known FACT.

As Betrayed has pointed out below, your FACT is incorrect. PCI does not own property in Ballymena - Wellington Congregation owns property.

expat68

D.A. wrote: »

As Betrayed has pointed out below, your FACT is incorrect. PCI does not own property in Ballymena - Wellington Congregation owns property.

So if the people of Wellington Congregation decide to shut up shop they can sell the property and split the proceeds between themselves as would normally happen if you own something??

PCI might not "own" it but they certainly "control" it - all part of the enigma of PCI finances whereby there is lots of money and assets floating around but it is always someone elses !

crusty_toenail

I'm still waiting for a 'presbyterian' to answer my question 'what would Jesus do', surely this is your 'reason for being a christian' - to walk as Christ himself......... have you asked God what you should do in this situation and if so what is your answer?

BETRAYED

Creditors' Committee

I am still looking for someone in the £187,001 to £425,000 band to offer support for a candidate.

no_more_f.w.o

crusty_toenail wrote: »

I'm still waiting for a 'presbyterian' to answer my question

Think you'll find there are more ex-Presbyterians on this forum

Witless

crusty_toenail wrote: »

'what would Jesus do'.......???

Scourge the moneylenders & throw them out of the temple?