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Presbyterian Mutual Society members ‘in the dark’ on plans

Presbyterian Mutual Society have claimed they are “in the dark” over what progress has been made in finding a solution to the troubled financial institution, despite a high-profile meeting taking place yesterday.

Secretary of State Owen Paterson met with First Minister Peter Robinson, Deputy First Minister Martin McGuinness and Finance Minister Sammy Wilson to discuss efforts to seek a resolution for the 10,000 members who lost their savings after the society entered administration in 2008.

Northern Ireland Minister Hugo Swire and Mark Hoban, the Financial Secretary to the Treasury, also attended the first meeting of the Ministerial Working Group on the PMS, which reconvened at the request of Prime Minister David Cameron.

Following the inaugural meeting, Mr Paterson said several courses of action had been identified which would be pursued “with urgency” over the summer and that another meeting was scheduled to take place at the beginning of September.

But Isobel Whyte from the PMS Savers Lobby Group said members were unaware the meeting had taken place.

“They did say they were looking at the possibility of a bank takeover, which is obviously a preferred option, but we just don’t know,” she said.

“What we are really doing now is waiting.

“It’s waiting game as to how the Government is going to resolve this and obviously we are hoping that it will be a speedy and fair solution for everyone.”

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