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NCSL partners with the Crown Hotel and Color Studios.

Dear Members,

We are pleased to inform you that NCSL has partnered with the Crown Hotel and Color Studios to offer exclusive discounts for you!

• Crown Hotel: Enjoy a 20% discount on accommodation (excluding in-house specials).
• Color Studios: Get a 10% discount on all general printing services.

These offers are available exclusively at locations in Port Moresby. Simply present your NCSL membership ID card at these locations to avail of these fantastic offers.

We have similar partnerships with many service providers who are willing to offer discounts exclusively to you, NCSL members. To learn more about the variety of service providers and the discounts offered, please visit our website and navigate to the “Loyalty Program” section under “Member Relations.”.
NCSL will continue to expand the list of service providers for you, our valuable members. We acknowledge the existing partnerships with service providers and also welcome others to come on board for this initiative.

To obtain a membership card, please inquire through our Call Centre at 207 2000 or email callcentre@ncsl.com.pg.

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PUBLIC HOLIDAY FRIDAY 17th MAY – BUKA BRANCH

Dear Valued Members,

PUBLIC HOLIDAY FRIDAY 17 MAY – BUKA BRANCH

In respect of Bougainville Remembrance day, our Buka branch will be closed on Friday 17th May, 2024.

The branch will be open on Monday 20th May, 2024 to serve you.

We apologies for any inconvenience caused by this and appreciate your understanding.

For further assistance, please reach out to our Call Centre team on phone 207 2000 or email callcentre@ncsl.com.pg

NCSL Management

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NCSL announces 2023 Profit of K 9.7 million

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.

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There Is Power In Savings

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.

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Tumla Investment signs LSL MOA With NCSL

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.

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CSOs POLISHED SALES & SERVICE SKILLS, AND PRODUCT KNOWLEDGE AT WORKSHOP

 
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.

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NCSL Participates in Va’a Day

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!

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NCSL Supports defending champions, Touch Football PNG to the XVII Pacific Games

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

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NCSL Member Grows Savings with Penny Tin Savings.

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.

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NCSL OFFERS EXCLUSIVE SAVINGS PRODUCT FOR DULUX EMPLOYEES

PORT MORESBY: NCSL is pleased to announce a Long Service Leave (LSL) savings product in
partnership with DuluxGroup PNG.

Both parties agreed under a memorandum of understanding, to provide an LSL Savings Account to
all eligible Dulux employees. The savings account will accommodate employee LSL entitlements,
where 80% of net LSL for individual employees will be transferred to ncsl upon voluntary
membership registration. The Society will manage Dulux employees LSL entitlements until members
employment with the company is terminated or member reaches 15 years term of service with Dulux.
This savings product will earn interest but is subject to its terms and conditions.
As the preferred Savings & Loan Society, NCSL was preselected by Dulux to have the savings product
purposely developed to financially assist its employees meet their financial obligations. This first of
its kind product was proposed by Dulux as a benefit for its staff. It has taken months of review,
multiple discussions and system developments at ncsl to ensure that the LSL product is now available
for Dulux employees.

Dulux General Manager, Simon Barstow said “Dulux employees have had a relationship with ncsl for
many years. NCSL is a trusted partner and we are looking to expand our relationship via the new
product to benefit our employees.”

Barstow also highlighted that currently the LSL does not earn any interest at Dulux, and they are very
happy to know that this accrued LSL will earn very good interest rates at NCSL.

“This will help build up the value of the LSL, which then is an asset that employees have for
retirement, medical, house purchases, kids education etc. This new product is part of Dulux’s
commitment to provide financial literacy training and support for all our employees with their
financial goals. In emergencies NCSL can process loans against this LSL very quickly which again
benefits employees,” he concluded.

Furthermore, NCSL Acting Chief Executive Officer, Keith Raimo said, “We are pleased to go into this
arrangement with Dulux to manage its employees’ LSL entitlements. NCSL is always looking for
innovative ways to provide better products and services for our members. In this instance, Dulux, as
a concerned employer, proactively reached out to ncsl to discuss value added benefits that we could
provide to their employees. We are very happy with the launch of this product and look forward to
providing similar products for other employers as well”

The LSL product will be officially launched later in October at the Dulux head office in Lae with NCSL
to implement product awareness at all Dulux sites throughout the country thereafter. NCSL will be
serving over 150 Dulux employees and are proud to be working with such a caring organization to
provide this amazing product.

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