Presbyterian Church of Aotearoa New Zealand

Login to access PIF Internet banking by entering http://pif.gfsg.co.nz/.

PIF interest rate

From 1 April 2010, the interest rate paid to depositors increases from 4.75% to 5.00% p.a. The Trustees review the interest rate each month (except December), and interest is credited quarterly. For further information about the PIF, contact the Secretary to the Church Property Trustees, Heather McKenzie.

The Presbyterian Investment Fund

The Presbyterian Investment Fund (previously known as the Amalgamated Investment Fund) is a consolidated cash fund of approximately $100 million offering high security and good interest rates with deposits available on call. The Fund is open to all parishes. Most of the deposits come from the more than 300 parishes who have funds not immediately required for operational activities. Other contributions come from parish capital funds, General Assembly funds and trust funds.

A very high level of security is achieved by:

• Investing in a diverse range of fixed interest investments including bank debentures, government and local body stock and secure corporate bonds.
• There is no investment in property or shares.
• All investments are rated and have a mininum credit rating of A-. If any investment falls below this rating it is sold.
• The Fund holds significant reserves which enable the fund to access the more favourable longer term investment rates available while still ensuring that all cash withdrawals can be met.

Interest rates are maximised by:

• Pooling funds provides the opportunity to obtain interest rates normally only available to large investors.
• Managing the maturity dates of investments to maximise return.
• There is no profit. All interest except for a small administration charge is retained for investors.

Transactions are straightforward. Interest is credited quarterly and Parish Treasurers receive regular statements.
Presbyterian Investment Fund report and financial statements to 30 June 2009.