TEACHERS, YOUR FUTURE DESERVES CARE TOO

Every day, teachers across Papua New Guinea invest in the future of others.

Teachers prepare lessons, guide learning, encourage young people to believe in themselves and
help shape the next generation of leaders, workers and citizens. Their influence extends far
beyond the classroom. Through their dedication, communities are strengthened, families are
empowered and our nation’s future is built one student at a time.

At NCSL, we recognise that teaching is more than a profession. It is a commitment to putting
others first.

Whether teachers are helping a struggling student, supporting parents, mentoring young people
or contributing to your community, much of what they do is focused on improving the lives of
those around you. Even after the final school bell rings, your responsibilities continue at home,
where family members depend on your care, guidance and support.

In spending so much of their time looking after others, their own financial goals and aspirations
are often ending at the bottom of the list.

This World Teachers’ Day, NCSL simply wants to remind our teachers that while it is admirable to
put others first, it is also important to think about their own financial wellbeing and future.

Teachers deserve convenient, safe and accessible financial services. Many educators serve in
some of the most remote parts of our country, often having to travel long distances, cross
mountains, navigate rough seas and cross fast-flowing rivers simply to access basic services.
Their time and safety are valuable.

That is why NCSL continues to invest in digital channels that allow teachers to access services
from their workplace, residence or community. Through the MyNCSL Member Online App and
other digital solutions, teachers can manage their accounts, access services and stay
connected without unnecessary travel whenever connectivity is available.

As a trusted, member-owned Savings and Loan Society serving more than 175,000 members,
NCSL is proud to support our teachers with savings products designed to help build financial
confidence and peace of mind.

This World Teachers’ Day, we thank all teachers across Papua New Guinea for the difference they
are making every day. Their Your dedication shapes lives, strengthens communities and helps
building our nation.

Nasfund Contributors Savings & Loan Society Limited (NCSL) has signed the PNG
Empower Finance Code, reinforcing its commitment to protecting members from
financial abuse and promoting safer, fairer and more responsible financial services.

The voluntary, principles-based Code is an industry initiative led by the Bank of Papua
New Guinea and developed in collaboration with financial institutions, the International
Finance Corporation and Flequity Ventures. It establishes a coordinated approach to
preventing and responding to financial abuse across PNG’s financial sector.

Financial abuse occurs when a person uses money, financial information or financial
services to control, pressure or exploit another person. Members may be at risk when
they are pressured to surrender their salary or savings, hand over their Poro Card or
share their PIN, MyNCSL login details or one-time passwords. These details may be
misused to access their accounts, make unauthorised withdrawals or transfers, or
pressure them into applying for loans and completing transactions without their free
and informed consent.

At the signing on Monday, 7 September, was NCSL’s Acting Chief Executive Officer and
Chief Operating Officer, Mr Shane Kennedy, and Head of Risk and Compliance, Mr
Kisakiu Poawai.

Mr Kennedy said the signing reflects NCSL’s commitment and responsibility to help
members remain in control of their finances.

“Every member has the right to make their own financial decisions and to feel safe
when using our products and services,” Mr Kennedy said.

“For NCSL, financial inclusion is not only about providing access to exceptional savings
products and affordable loans. It is also about ensuring those services are safe, fair and
responsive to the needs of our members.”

NCSL joins other financial institutions that have committed to the initiative, including
Nasfund, BSP, Westpac PNG, and Credit Bank. Through the Empower Finance community
of practice, participating institutions will share knowledge and work collectively to
strengthen financial safety and consumer protection across PNG.

Picture Caption

From left to right: NCSL Head of Risk and Compliance, Mr Kisakiu Poawai; Acting Chief Executive
Officer and Chief Operating Officer, Mr Shane Kennedy; Bank of Papua New Guinea Assistant
Governor, Financial System Regulation and Supervision Group, Mrs Sabina Deklin; and Comrade
Trustee Services Limited Chief Executive Officer, Mr Charlie Gilichibi at the signing of the PNG
Empower Finance Code.

Digital solution processes PGK7 million in transactions, delivering greater convenience, speed and security for NCSL members

NCSL is pleased to announce the continued success of its MyNCSL Adhoc Remittance feature, available through both the MyNCSL mobile app and web platform.

Developed with members’ needs in mind, the innovative solution makes transferring funds fast, easy and secure.

The Adhoc Remittance feature enables members to transfer funds directly from their commercial bank accounts to their NCSL accounts using unique reference numbers.

Payments are automatically credited to the nominated member accounts, eliminating the need to submit receipts manually and providing a more convenient and efficient experience.

Whether you are an Eda Supa member or a Normal member, you can easily use this feature to remit funds from your commercial bank to your NCSL account. By simply entering your unique reference number when making a transfer, the system automatically detects your payment and instantly credits it to your account, without requiring you to send an email or notify NCSL. This automated process saves time, ensures accuracy, and provides peace of mind that your funds are safely and promptly processed.

Since its introduction, the Adhoc Remittance feature has already processed PGK7 million in transactions this year alone. This achievement demonstrates how members are using the solution to boost their eligibility for loans, increase savings, and reduce outstanding loans.

According to NCSL CEO Frans Kootte, the feature has transformed the member experience by streamlining financial processes and ensuring efficient service delivery.

“NCSL’s commitment to continuous innovation is driven by our dedication to improving the lives of our members. By introducing solutions like Adhoc Remittance, we give you the confidence to manage your finances seamlessly, securely, and without hassle,” Mr Kootte stated.

“Our goal is to empower members to take control of their savings and loans, knowing that NCSL is always striving to deliver positive, tangible results.”

NCSL is grateful to all its members for embracing this solution and looks forward to delivering even more enhancements that simplify their financial journey with the society.