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Media Release Notice of the day

22 Years of Trust, Growth & Belonging — A Celebration of Our Members

This month, NCSL Savings & Loan Society celebrates 22 years of service — not just as a savings and loan
institution, but as a community built on trust, loyalty, and shared purpose. This milestone isn’t ours alone.
It belongs to you, our members, whose belief in us has shaped every step of our journey.
From just 14,002 members in 2003 to over 150,000 today speaks volumes. Your loyalty has transformed
NCSL from a small operation in Boroko in theNation’s Capital into one of PapuaNew Guinea’s most trusted
financial service providers. Every kina saved, every loan approved, and every goal achieved reflects your
commitment and our promise to financially walk beside you.
We’ve grown together. We’ve faced challenges together. And through it all, we’ve built something more than
financial services — we’ve built a connection, a relation, a community and a family.
At NCSL, we do not just offer products. We offer possibilities understanding our Melanesian culture and
way of life. Our simple yet affordable products are developed to meet every financial need.

  • Savings Accounts that help you build a future
  • Personal Loans tailored to your needs
  • Digital Services like MyNCSL Member Online for convenience and control
  • Loan & Savings Calculators to help you plan wisely
  • Member Benefit Programs that reward your loyalty
  • Employer Partnerships that make saving and borrowing easier

Over the years, NCSL has embraced change and innovation, introducing other new products and services
expanding its suite of offerings with the intention to make your financial journey simpler, safer, and more
rewarding.
Chief Executive Officer Frans Kootte said, “This milestone stands as a powerful reflection of the trust our members have placed in us – NCSL Savings & Loan over the years. It highlights the strength of our growing membership and the enduring values that continue to shape our journey.”

“To those who’ve been with us from the beginning thank you. To those who’ve joined along the way, welcome. And to those who are yet to become part of our story we invite you to take the first step,” said Mr. Kootte. Join a Savings & Loan like NCSL that puts you first. Join to see financial benefits that changes and improves lives. Join NCSL where your goals become our mission.

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Members Notice/Update (Archives)

Easter Holiday Notice

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

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Media Release (Archives) Members Notice/Update (Archives)

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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Media Release (Archives) Members Notice/Update (Archives)

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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