NI Presbyterian mutual society, Short of funds for withdrawal?

mackm

Has anyone so far who actually lifted their money during the 'run' contributed to this discussion?
If not, would some such person like to tell us what led to their decision to lift money just at the right time?
Did their bank so advise?
Had they 'inside' information?
Or had they foreseen the problem for themselves?

freddiemae

crazymess wrote: »

me again...................

Maybe someone else on this thread can check a few of these things out.

Spoke to FSA this morning. Please see their website www.fsa.gov.uk and look at who needs to be registered with them.

If a financial institution takes deposits or finances homes they MUST be regulated...................

It incurs a high levy..................

But I think - we are shareholders up to 20,000 and then the PMS gives out loan receipts for anything above 20,000 - apparently they still need to be regulated by FSA

It seems as if someone didn't do their job properly ............

Buy-to-lets not regulated by FSA - but guess what - need to be regulated under the OFFICE OF FAIR TRADING - CONSUMER CREDIT ACT - need to get a Consumer Credit Licence .................


THE PMS SEEMS TO HAVE STARTED OFF IN 1982 AS A CREDIT UNION TYPE THING AND THEN THE WHOLE THING GOT SO BIG THAT THE PROPER REGULATIONS WEREN'T PUT IN PLACE.

Oh my - WHAT AN ABSOLUTE MESS

Well done Crazymess. Perhaps this info could be given to the Newsletter reporter - that article today seems to show that they are taking PMS savers seriously and challenging authorities on your behalf

freddiemae

mackm wrote: »

Has anyone so far who actually lifted their money during the 'run' contributed to this discussion?
If not, would some such person like to tell us what led to their decision to lift money just at the right time?
Did their bank so advise?
Had they 'inside' information?
Or had they foreseen the problem for themselves?

Could it have been the loan book being written down in value that set the run off? The newsletter seems to suggest this contributed to it in today's article.

freddiemae

morenews wrote: »

To Mr McGee - First please excuse any mistakes i am only getting used to using a computer. Last night after reading your first post I cried - I have got used to long nights of worry but last night i felt at my lowest. A lot of people face a future not knowing how they are going to manage. After years of hard work and many many struggles we retired and entrusted our savings to pms i am sure you would say foolishly but it was done in good faith after being assured it was totally safe.We were just looking forward to taking things a bit easier, nothing grand, maybe some visits to our grandchildren we were never used to holidays - now basic bills are a worry. I ask that when you look at this forum remember to most of us this is our only form of communication and information and has been a very small light at the end of a very dark tunnel. I wish you and and your family well.

You have my deepest sympathy. When I was at my lowest ebb over my son being diagnosed with an aggressive cancer my greatest comfort was Psalm 46
"God is my refuge and my strength -- a very present help in time of trouble" I carry that text with me always.

goodbyepci

mackm wrote: »

Has anyone so far who actually lifted their money during the 'run' contributed to this discussion?
If not, would some such person like to tell us what led to their decision to lift money just at the right time?
Did their bank so advise?
Had they 'inside' information?
Or had they foreseen the problem for themselves?

I doubt anyone who managed to get their money out will be reading this thread.

They'll be jumping up and down shouting YIPPEE!!!

:T :beer: :T

Nomad25

Crazymess - You think you're confused! Me too .

Looks like the only way to get at the admin/running/mismanagement of all this [pre public enquiry] is for someone to appoint a financially savvy solicitor - and that's going to take some money, which most of these PMS folk don't have access to.

Maybe a wealthy non-PMS saver would stump up in the interim :rolleyes:

its ok for me cause im already very wealthy. That may be true

i am on your side in this disgraceful situation that has been permitted to occur.

Phyl McGee

We are all aware of and realise there's a lot of speculation on this thread, but it is doing the same as an 'earthbound' support group would, hopefully providing a 'meeting place' for those in distress. Somewhere to come for comfort, to be heard, network and mix with people in the same situation and for sympathisers to their plight to show solidarity.

fivealive_2

mackm wrote: »

Has anyone so far who actually lifted their money during the 'run' contributed to this discussion?
If not, would some such person like to tell us what led to their decision to lift money just at the right time?
Did their bank so advise?
Had they 'inside' information?
Or had they foreseen the problem for themselves?

Can I "second" the above and also say welcome on board to "mackm".
:hello:

fivealive_2

joylikes2shop wrote: »

Thank you for your opinion Phyl, :rotfl: biblical references,:T and declaration of personal 'wealth':eek: .......but I cant help wondering why you've felt compelled to continue following this thread when you find it so ''dull, tedious and especially repetitive''
This thread may bore you, the petition may not serve any purpose (in your opinion) and prayer may help those who believe in it- but maybe YOU '' should get a life and get on with it !'' and stick to the many threads on this wonderful site that do interest you. :j :j
Thanks again for your helpful,compassionate and thought provoking comments :rotfl: :rotfl: :rotfl:

Like me you like the smilies. Are you aware that a greater selection are available if you click on the smiley face near the font icons on the tool bar above where you type your post? This opens a box of the same smilies that are on the side of the text box but when you scroll down to the end you can click on a box that says "Show all Smilies". There are some particularly cute Easter ones like this:
:EasterBun

brick

fivealive wrote: »

There are some particularly cute Easter ones

Is that bunny one prophetic? - feeding of the directors to the savers.

fivealive_2

Ballygal wrote: »

re Phil McGee's post
TIME PEOPLE IS A GREAT HEALER ! !

PRAYER IS AN EVEN STRONGER HEALER ! ! ! ! ! !

I DID NOT want to thank Phil for the post above but don't know how to remove my mistake! Perhaps one of you old hands could let me know by private message as i am embarassed to have my name associated with it

I am really glad that you explained yourself Ballygal :embarasse because I was shocked when I saw you had thanked Mr McGee. I usually look to see who has thanked who to try and get a sense of "who is who" on this thread as I suspect that some of you actually know each other but I am fairly sure that I don't know any of you. I am one of those "ordinary" people in the pew and I have not verbalised my views about this PMS disaster in local church circles for fear of being lynched for daring to question the activities of the hierarchy of the PCI. The last thing I want to do is alienate those whose help and support I rely upon. I appreciate this Forum so much and I hope that some day when all this is done and dusted and we have got our money back that we can all go out for a meal somewhere together and put faces to pen-names, but for now it is safer for many of us to remain anonymous.
:lipsrseal