Over its 22-year history, Nasfund Contributors Savings and Loan Society (NCSL) has rolled out several key initiatives aimed at improving service delivery and accessibility.

These include the introduction of Biometric Identification in 2016, the launch of online services in 2015, and the rollout of Poro Card and EFTPOS access in 2019 which made NCSL the first non-bank financial institution to participate in PNG’s retail electronic payment system.

Chief Executive Officer Frans Kootte said the organization’s success stems from its focus on innovation and member trust.

“NCSL exists because of our members for 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.”

Recent developments include the 2022 rollout of Wokabaut Tablets to enable instant member registration at workplaces, the establishment of a dedicated Call Centre in 2023, and the 2024 upgrade of its MyNCSL and Employer Online digital platforms.

The society’s long-term members have credited the organization for improving their financial independence.

Mary, an employee of the Catholic Bishops Conference, said her savings with NCSL have helped cover her children’s school fees, while Wayne, from ExxonMobil, said the 1:5 loan product allowed him to purchase a vehicle and pay school expenses.

From modest beginnings, NCSL has evolved into a key player in PNG’s financial services sector, providing not only lending and savings options but also financial literacy programs to encourage responsible money management.

Furthermore, as NCSL enters its 23rd year, the society says its focus remains on expanding access and strengthening digital solutions to meet the evolving needs of its growing membership base.