Category: Media Release (Archives)

We are delighted to partner with Tumla Investment Limited under a Memorandum of Agreement to provide a Long Service Leave (LSL) Savings Account to eligible Tumla employees.

The savings account will accommodate Tumla employees’ LSL entitlements, where 80% of the net LSL for individual employees will be transferred to NCSL upon voluntary membership registration.

The Society will manage Tumla employees LSL entitlements until members employment with the company is terminated or member reaches 15 years term of service with Tumla. Members LSL accounts will also earn an annual interest.

Tumla Investment’s Managing Director, Irad Nadi expressed, the LSL savings product is a great initiative for the staff who take a little more once they leave or retire from formal employment.

Speaking about the collaboration, NCSL Chief Officer Member Services, Maranuf Tataeng shared, “NCSL is proud to partner with Tumla to provide such a vital service to its staff. By offering accessible and reliable financial services, NCSL continues to support employers who are concerned about their employees’ financial wellbeing.

Tumla Investment Limited Managing Director, Irad Nadi and NCSL Chief Officer Member Services with the signed agreement.

 
In a proactive effort to enhance customer service and deepen product understanding, Nasfund Contributors Savings & Loan Society (NCSL) recently conducted a first-ever, three-day Branch Network Workshop for its dedicated Customer Service Officers (CSOs) from the branches. 
 
The workshop was hosted at Lamana Hotel from Thursday 7 March to Saturday 9 March. It focused on upskilling CSOs and equipping them with essential knowledge in sales fundamentals, customer service excellence, business relationship management, and an understanding of NCSL’s diverse product and service offerings. 
 
The workshop themed, “Change is Me,” emphasized the importance of continuous learning and utilizing their skills to provide excellent customer service. The CSOs were also encouraged to embrace change as an opportunity for growth and personal development.

We were proud to participate in the Va’a Day Challenge at Lancron Naval Base in Port Moresby on Saturday, 09 March 2024.

Our teams, NCSL Poro and Mavericks were among 13 other corporate organizations who came together to support the fundraising event by PNG Canoeing Association. Funds raised from this goes towards supporting team PNG to the mini–Pacific Games in Palau, 2025 and the Pacific Games in Tahiti, 2027.

Our participation saw both Poro and Mavericks finish in the semi finals. What a great result having only two trainning sessions!

It was a fun filled day of team bonding, networking and great sportsmanship displayed by all teams!

PORT MORESBY: Nasfund Contributors Savings and Loan Society (NCSL) was pleased to support our
defending champions, Touch Football PNG to the XVII Pacific Games in Honiara, Solomon Islands.

Touch Football National Coach, Peter Stoddart said “we are grateful for the support received as this goes
a long way. Your support will assist us in our goal to defend our title and bring the gold back to our
country.”

His sentiment was shared by Founder of Touch Football PNG, Joseph Yore. Mr Yore said the team was a
contributor to the medal tally of the country and attributed the success of the team to support received
from sponsors.

“When you support Touch Football, you support and encourage many young people who come from
broken homes and all walks of life to do something meaningful in their lives. We thank you for your
support,” he said.

With the games scheduled to be held between 19 November and 2 December, NCSL would like to wish
our defending champions the best in their quest to be the first sporting code in the country to win backto-back gold in the women’s, men’s and mixed divisions

PORT MORESBY: Penny box or tin savings may seem old fashioned but you’ll be amazed with how much you’ve saved when you open it. A long time NCSL member was thrilled to share how her savings with NCSL grew through the penny tin savings method in one year.

Chantelle Mumbru from Port Moresby started the savings challenge in 2022 to see how much she would save by year end. The purpose of the savings challenge was for an immediate or unexpected financial need.

“I started the money challenge last year to save for the rainy day. A colleague shared a spreadsheet which comprised of different amounts, and I took interest to take up K3 challenge daily, but I got excited and started putting away more in the penny tin. Apart from my fortnightly contributions to my savings account, I wanted a little extra to add to my savings at the end of the year,” she shared.

“I opened the box in December and was surprised to see I saved over K4, 000. I used half for Christmas festivities and the other half was deposited into my General Savings account for my future needs. I
started again this year with K5 challenge and can’t wait to see how much I saved,” she said.

Through her experience, Chantelle is encouraging others to start a savings culture whether from a penny box or small sales and have the savings put into their savings account to grow.

“It doesn’t matter how much you start with. Consistency and self-discipline are key to achieving your goal. You can start with any amount and increase your contributions. Always remember to deposit some of the proceeds into a savings account where it earns interest and grows. Don’t keep it in the box/tin, you must remember to deposit your funds inside a savings account for it to grow. Think long term,” Chantelle concluded.

NCSL encourages regular and voluntary contributions for that immediate and unexpected need. Members can choose to save in any of the savings accounts for their financial needs.