Frequently asked Questions
Who is PSDS?PSDS is the Presbyterian Savings and Development Society of New Zealand Incorporated. It has been set up for the sole purpose of being of service to the Church and its mission. It is a not for profit financial organization like a bank but not a bank. It supports the growth and development of Presbyterian churches, cooperating ventures and related organizations by making finance available at less than market rates for building and development projects
Where does the money come from?The money comes from individuals, churches, groups and organizations who invest their funds with PSDS. Currently there are over 2300 depositors with $40 million in funds invested.
What happens to any surplus PSDS makes?Part of any surplus is added to the Society's reserves to ensure an appropriate level of cover for deposits held. The rest of any surplus is returned to churches and related organizations in the form of grants for new ministry and mission initiatives and technology. The Society has gifted over $900,000 to projects throughout the country.
Is PSDS part of the Presbyterian Church?No but its formation was approved by the General Assembly of the Presbyterian Church of Aotearoa New Zealand in 1970.
Who runs PSDS?PSDS is professionally managed and prudently led by a Board of nine Directors with wide experience in business and the Church.
How can you offer competitive interest rates for loans and investments?PSDS does not have any shareholders requiring a share of any surpluses. Our Directors give their time and expertise without charge. We have a low cost structure and manage our operations carefully. PSDS is therefore able to offer interest rates which are very competitive with the main banks and also offer loans to churches at less than market rates.
How safe is an investment with PSDS?PSDS has been operating for over 38 years. The Society has never failed to repay its depositors their funds. Depositor's funds are covered by reserves that are in excess of $4.5 million