Tag: savings
Joining NCSL Savings and Loan isn’t just about opening a savings account—it’s about becoming
part of something bigger. As a member, you become a shareholder, giving you the right to
access some of the best financial services available in Papua New Guinea.
Enjoy easy and convenient access to savings and loan products with competitive rates through
any of our 20 branches nationwide, online via our website, or directly from your mobile
phone—anytime, anywhere.
We are continuously working to enhance our services and provide informative presentations to
help you choose the products that best suit the needs of you and your family.
Over the 22 years, we have assisted countless members meeting everyday needs to achieving
goals.
Here we featured some of the testimonials from our members.
Mary – Catholic Bishop Conference PNG & Solomon Islands
“I have been a member with NCSL for 13 years and my savings with NCSL especially General and
Education savings has enabled me to pay for my children’s school fees over the years”
Caroline – Airways Hotel
“Through the support of the payroll team of my employer, I have been contributing to my
savings account as a NCSL member for 8 years. I have been using my interest earned savings to
fund my holidays trips back to my home village during the festive period.”
Wayne – ExxonMobil
“Through NCSL’s 1:5 loan product—which allows members to borrow up to five times the value
of their savings—I was able to purchase a Toyota Harrier SUV in July 2022 and pay nearly
K12,000 in school fees for my son. These achievements have significantly supported both my
personal and family needs.”
Esther – WaterPNG
“My savings with NCSL has been my lifeline assisting me with my medical bills. I have been a
member with NCSL for 6 years now.”
Edith – Aviat Club
“I am a member with NCSL since 2007. My savings have grown over the years and I have used to
attend to customary obligations, family needs and build myself a house.”
Thanks to our members
It is because of our members that we have grown, evolved and innovated achieving
transformative milestones. As we reflect on our 22-year journey, we are humbled by the
milestones we’ve achieved as each one is a testament to the trust and growth shared with our
members;
• 2005: Introduced Discount Program for Members
• 2010: SaveBal Service launched
• 2016: Biometric Identification System Introduced
• 2017: NCSL Constitution amended to open membership to open to non-Nasfund members (public)
• 2015: Online Services introduced
• 2019: Poro Card & EFTPoS introduced. First non-bank financial institution to participate in retail electronic payment system
• 2020: Introduction of Higher ratio Loans. NCSL rebrands with facelift of new logo.
• Introduction of Higher Ratio loan.
• 2022: Rolled out Wokabaut Tablets to register new members instantly at employer sites
• 2023: New Call Centre Established at NCSL Head Office
• 2024: Implemented a new system. Introduced enhanced version of MyNCSL Member Online and YourNCSL Employer Online
Over time, NCSL has become more than a financial institution. It became a partner in progress, a
source of stability, and a symbol of empowerment through financial literacy training, focussing
on creating a savings culture and responsible lending. Members feel noticed, supported, and
valued. Not just for what they save, but for who they are and what they aspire to achieve within
their respective families, clan, tribe and modern-day community
In celebrating 22 years, NCSL isn’t just marking time, it’s honouring any of the 160 000 of life
journeys we have helped shape. And for every member, our journey together continues.
“NCSL exists because of our members — they are the foundation of everything we do. Our
purpose is to serve them with integrity, innovation, and care, ensuring their financial wellbeing
remains at the heart of every decision we make.” Said CEO Frans Kootte.
From humble beginnings NCSL’s history is a living testament of our journey with our loyal
contributors.
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.
For over 20 years, NCSL Savings & Loan has humbly as Papua New Guinea’s leading member-owned financial institution. With over 150, 000 contributors nationwide, we’ve built a legacy of trust, innovation,
and service delivering savings and loan solutions that are not only secure and accessible but importantly tailored to the everyday needs of our people. Our mission to improve lives through digitally driven financial services continues to shape the future of savings and loan in PNG, and the experiences our members share continue to inspire and guide us.
One such story is that of Tau Bega who joined NCSL on July 7, 2025. For Tau, this wasn’t just another financial institution, it was a transformative experience rooted in convenience, efficiency, and genuine member care. As a professional in the lending sector, Bega is well-versed in financial services. Yet, what he discovered at
NCSL left a lasting impression. “I’m truly impressed by the speed of applying for a personal loan 1:1, just a few keystrokes and it’s done,” he shared. “It’s a game-changer.” His journey began with a Seivins Chat Presentation conducted by NCSL’s Ms. Vicky Moriani, Customer
Service Consultant in Alotau. Her patient and knowledgeable guidance through the online registration and
loan process exemplifies the heart of NCSL’s member-first approach. “Her support made the entire experience seamless,” Bega said with appreciation. What sets NCSL apart, according to Bega, is not just the technology but the thoughtfulness behind it.
The MyNCSL App, available on the Playstore and online, gives members direct access to their accounts anytime, anywhere. “It personalizes your services,” he said, “giving clients control and convenience on the
go.”
But it’s the Personal Loan product that truly stands out. “Highly recommended,” Bega emphasized. “It’s extremely flexible and user-friendly, cutting out the traditional bulky loan application forms. And the turnaround time? Next to none.”
Beyond loans, Bega praised NCSL’s wide range of savings products designed to meet the practical needs of Papua New Guinea’s working class. With competitive interest rates and a member-first approach, NCSL continues to redefine what convenient digital services can look like. “I’ll definitely recommend NCSL to others seeking convenience including my family members,” Bega said. “It’s not just a service; it’s a smarter way to manage your money.”
| Loan Type | Borrowing Limit | Interest Rate (Per Annum) | Best For |
|---|---|---|---|
| 1:1 | Equal to your savings balance | 14% | Members who want to borrow responsibly based on their savings |
| 1:2 | Up to twice your savings balance | 20% | Members needing a higher loan amount with manageable repayment terms |
| 1:5 | Up to five times your savings | 26% | Members with strong savings history and employer support, seeking larger loans |
In today’s uncertain financial climate, having access to reliable support matters more than ever. That’s why NCSL Savings & Loan Society is helping Papua New Guineans take control of their financial future — not just through borrowing, but through smart, consistent saving.
At NCSL, we believe your savings are your strength. The more you save, the more you can borrow — giving you access to affordable loans for personal, business, or customary needs. It’s simple and that’s helping thousands of members turn everyday savings into real opportunities. Preparing for family obligations? NCSL’s loan products are designed to support your goals and they’re easier to access
when you’ve built a strong savings history.
Through workplace visits and community outreach, we’re showing Papua New Guineans how saving regularly not only boosts loan eligibility but also builds long-term financial resilience. And with digital tools like Mobile USSD (*628#), MyNCSL Member Online and App, saving and borrowing is now just a few taps away.
Not a member yet? Join NCSL today and start your journey toward financial freedom. When you save more, you’re unlocking more borrowing power and building a stronger future for yourself and your family. Save smart. Borrow better. Grow stronger with NCSL.
NCSL Savings & Loan recently took part in the Young Minds Savings Campaign in Kokopo and Rabaul, connecting with students and encouraging them to start building a savings culture early in life.
Held from August 25th to 29th, the campaign reached students at Kokopo Secondary School, Malaguna Technical Secondary School, and Kerevat National High School. NCSL staff were on the ground, speaking directly with students about the importance of saving not just for today, but for their future. “We’re not here to talk numbers,” said Delma Bualten, NCSL Area Manager for Southern & NGI Region. “We’re here to help young people understand that saving even a kina a day can make a real difference over time.”
Students were encouraged to start small, saving K1 a day, tracking their progress on a calendar, and eventually depositing into an NCSL Contributions Account. While many students were under 18 and not
yet eligible to open accounts, NCSL was able to assist those who were able to register.
Some students also registered for MyNCSL Member Online, gaining access to NCSL’s digital services and learning how to manage their savings online. Teachers and school leaders expressed interest in future
engagement, with plans to onboard more staff in upcoming school terms.
Throughout the campaign, NCSL’s focus was clear, to support students in developing good financial habits early, and to be a trusted partner as they grow into financially responsible adults.
“Whether they open an account now or later, we want students to know that NCSL is here for them,” said Ms. Bualten. “We’re proud to be part of their journey.”
This campaign reflects NCSL’s ongoing commitment to financial literacy, member support, and community outreach. By encouraging a savings culture among students, NCSL is helping shape a generation that values planning, discipline, and financial wellbeing, one kina at a time.
As Papua New Guinea proudly celebrates its Independence, NCSL invites you our valued members to
reflect on a deeper kind of freedom: the power to take control of your financial future with clarity,
confidence, and purpose.
Financial freedom isn’t just about having more, it’s about making smart choices that support your goals,
your family, and your peace of mind. At NCSL, we believe true empowerment begins with financial
discipline. It’s the kind that helps you avoid unnecessary debt, stay prepared for life’s uncertainties, and
build a future you can be proud of.
We’re here to make life better for our members not just through products, but through purpose. Whether
you’re saving for school fees, emergencies, or long-term goals, your savings are a tool for growth. And
when you need a little extra support, our competitive lending rates are designed to help you move
forward without compromising your financial wellbeing.
With NCSL, the more you save, the more you benefit not just in interest earned, but in opportunity
unlocked. Our lending solutions are tailored to meet your needs, offering affordable interest rates, flexible
repayment options, and quick access to funds through convenient and accessible digital services so you
can make empowered decisions that uplift your life, not overwhelm it.
This Independence, choose financial freedom. Choose NCSL
In today’s fast-paced economy, financial decisions are no longer just about convenience—they’re about
strategy. Whether you’re saving to support family needs, or planning for the future, where you choose to
save or borrow can significantly impact your financial wellbeing.
At NCSL Savings and Loan Society, we believe that saving is more than just setting money aside. It’s
about creating options, building financial security, and preparing for what’s next. As a member-owned,
not-for-profit institution, NCSL is proud to be at the forefront of cultivating a savings culture across
Papua New Guinea’s workforce. Through strong partnerships with employers nationwide, we’re making
saving a practical and empowering habit.
What sets NCSL apart is our unwavering commitment to our members. Every product and service we offer
is designed with real people in mind tailored to meet genuine needs, not just financial targets. From
savings accounts to secured personal loans, our focus is not on profit, but on delivering accessible,
affordable, and meaningful financial solutions.
Thoughtful Lending Begins with Informed Choices. Before deciding where to save or borrow, it’s essential
to compare interest rates. Taking a few extra minutes to understand what different institutions offer could
save you hundreds—if not thousands of Kina over time.
At NCSL, we offer some of the most competitive rates in the market:
Savings Products:
• 6% interest per annum on Christmas and Kids Savings Accounts
• 3% interest per annum on Education Savings Accounts
• 1.75% interest per annum on General Savings Accounts
Loan Products:
• 14% interest per annum for savings-secured 1:1 personal loans
• 20% to 26% interest per annum for higher-ratio loans (1:2 and 1:5)
These rates reflect our commitment to responsible lending—ensuring that borrowing remains manageable
and aligned with our members’ financial wellbeing.
Digital Access through our MyNCSL digital platform, members can access their savings accounts,
transfer funds, and apply for loans anytime, anywhere whether via the mobile app or our website. It’s
financial empowerment at your fingertips. At NCSL, we don’t just offer financial products—we
offer membership with purpose. A membership that listens, adapts, and puts people first. So, before you
make your next financial move, ask yourself: Is my financial institution working for me?
Make the smarter choice. Join us by becoming a member and you will experience that we care about you
and your family throughout your financial journey.
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.
