Author: Jacob Tiko Oii Segodi
City Pharmacy Ltd (CPL) and Nasfund Contributors Savings & Loan Society Ltd (NCSL) have renewed their partnership agreement, solidifying their commitment to providing exclusive benefits to 150,000 active NCSL members. Effective November 15, 2024, this three-year mporo Plus (mPP) Discount Agreement enables NCSL members to enjoy exclusive discounts on select items at City Pharmacy, enhancing access to essential goods and services while supporting member savings.
Under the terms of the agreement, NCSL members will receive a 30% discount on all medical prescriptions and a 10% discount on all purchases at City Pharmacy, with certain exclusions such as digital products, baby formula, and concession lines. The discount program is available at all City Pharmacy outlets nationwide and will continue until either party chooses to terminate the agreement with prior notice.
Mr. Pradeep Panda, Head of Pharmacy at City Pharmacy, shared CPL’s commitment to extending this benefit nationwide. “We aim to be a trusted partner and prefer a more collaborative partnership with all our existing business partners, and this is a step towards that. With CPL’s presence in 19 provinces, this agreement covers all City Pharmacy outlets nationwide. NCSL members in other provinces can simply
walk into any City Pharmacy shop in their province of residence, present their NSCL members ID card, and access the discounts.”
Speaking at the signing, Mr. Frans Kootte, the Chief Executive Officer of NCSL expressed his appreciation. “We are extremely happy and deeply appreciative of the collaboration with City Pharmacy. As a Savings and Loan society, our focus is on supporting the everyday needs of our members and the people of Papua New Guinea. It’s vital that we contribute not only to the financial well-being of our members but also to the overall development of Papua New Guineans.”
This collaboration marks an exciting milestone for CPL and NCSL Savings and Loan as they work together to deliver valuable benefits to NCSL members across the country.
Dear Valued Members
Kindly be updated that we have restored Online Portal and Mobile Banking (*628#) services.
Poro Card service is still intermittent at this time and we will provide you an update once service is accessible.
Thank you for your patience and understanding.
NCSL Management
Thank you for being our member!
Dear Values Members
We kindly advise you that due to routine maintenance, all NCSL digital services will be inaccessible from Sunday 31st March at 10:00pm to 2am:00 on Monday 01 April, 2024.
Services are expected to return to normal after the stated maintenance window.
We apologise for the any inconvenience caused.
NCSL Management
Thank you for being our Member
Dear Values Members
Our branches will close at 2pm today for Easter long weekend.
We encourage members to utilize the available digital services.
For further assistance, please reach out to our call Centre team on phone 207 2000 or email callcentre@ncsl.com.pg
We re-open to you on Tuesday, 02 April 2024
Wishing you and your family a Joyful and Blessed Easter.
NCSL Management
Dear Valued members
Please note that we will be closed on the following days for Easter.
– Good Friday – Friday, 29th March 2024
– Easter Monday – Monday, 01 April 2024
In the Meantime, you can continue to have access to our savings and loan products and services through our mobile phone (*628#) and internet services.
We re-open to server you on Tuesday,02 April 2024.
We wish you and your family a Joyful and Blessed Easter.
NCSL Staff & Management
Thank you for being our Member
At its Board meeting on Friday, 22nd March 2024, NASFUND Contributors Savings and Loan Limited (NCSL) received the audited accounts for 2023 and announced a net profit of K 9.7 million for the 2023 financial year.
After 20% statutory reserving, this will be credited overnight to the savings accounts of the more than 147,000 members and paid in addition to the current interest rates which members are already receiving on their savings accounts.
This is a total of 4.15% for the 2023 financial year equating to K 11.6 million in interest on savings for NCSL members.
Other Financial highlights of 2023 were:
· Total Assets increased by 1.4% to K 316 million.
· Net Assets of K36.3 million.
· General Reserves increased by 8.2% to K 25.8 million,
· Total membership increased by 3.1% to 146,765 members,
· Members Savings increased by 2.5 % to K 274.5 million,
· Net Loan portfolio increased by 9.6% to K 152.8 million.
NCSL’s Chairman, Christopher Elphick thanked the support, patience, and trust which NCSL received from its members over 2023. During the year an extensive remediation process to improve Information Technology Risk Management was successfully undertaken.
The NCSL Board approved and embarked on a significant upgrade to its core systems to ensure modern digital offerings for its growing membership nationwide. A new call-centre system has been implemented so member queries are promptly answered. This includes NCSL employees receiving improved training with a more customer centric focus.
Elphick thanked his dedicated NCSL team and stated, NCSL remains committed to delivering modern digital services and affordable financial services to its members.
There is power in savings whether it’s from your fortnightly salary or a side hustle, says NCSL Member,
Joycelyn Mautu who opened her savings account with NCSL in 2021 when she began her formal
employment in Port Moresby.
Living in the city is expensive and so you must be disciplined in the way you handle your money, she shared.
Ms. Mautu who is employed by PNG Chamber of Resources and Energy, has been actively contributing a
part of her salary fortnightly and whenever she has some extra money, she puts it away in her savings
accounts to assist with her immediate and future needs.
“Emergency situations are inevitable and can happen at any time. Having savings parked aside gives me that
feel of security, and I am glad I have something to fall back on when I need it the most. And as an advice for
young people who are still in school, start practicing a savings culture today as it will help you with your
education needs and can meet the cost of your other expenses.
It is important that when you grow up, to know how to save and how to manage your money,” she said.
Being an NCSL member, Ms Mautu enjoys interests paid annually into her savings account. She is always
eager to check her balance at the end of each month to track her savings performance and the interest paid
into her account.
And if it is required, she can obtain a loan which is easier when she can show being able to set money aside
to save.
“So far, so good. I am very pleased with how I am managing my finances through saving with NCSL,” Ms.
Mautu concluded.
Dear Valued Members
Update #5: We’re pleased to inform you that our Poro Card service has been restored.
We thank you for your understanding and support.
NCSL Management
Dear Valued Members
Updated #4: Please be informed that our Poro Card service remains temporarily unavailable.
Our IT technicans are working to restore the Poro Card services as soon as possible. We will keep you informed from time to time.
For further assistance, please reach out to our call Centre Team on phone 207 2000 or email :callcentre@ncsl.com.pg
We sincerely apologise for any inconvinience caused by this.
NCSL MANAGEMENT
