P.S.I.S. extends membership to private sector

Press, 7 October 1988, Page 34

P.S.I.S. extends membership to private sector

PA Wellington Potential membership of the Public Service Investment Society has increased by 180,000 with the admission of nine private-sector union groups. The society’s general manager, Mr lan Reid, said he did not expect rapid growth of business — the financial area was very competitive. “What we are about is steady and deliberate growth,” he said. Rapid growth would put pressure on the society’s resources. Recognition of the union groups was only the first step. Union members still had to become interested in the society and join it. Communication to union members through their own publications would take time.

New group members since May were the Clerical Workers’ Association.

the Service Workers’ Federation of Aotearoa, the Distribution Workers’ Federation, the United Food and Chemical Workers, the Bank Officers’ Union, the Photo-Litho Union, the Pulp and Paper Workers’ Federation, the Woollen Workers’ Association and the Auckland and Suburban Local Body Employees’ Union. Mr Reid said the P.S.I.S. had decided to extend membership to groups outside the Public Service partly because of a reduction in State service numbers and also as a growth strategy. Unions now being admitted were from within the Council of Trade Unions. In the financial year ended March 31, the P.S.I.S. recorded a profit of $5.3 million. It had reserves of over $l3 million and its membershio was 153,000.