NCSL was established in October 2003 as a result of changes made to the Superannuation Act which no longer allowed voluntary education contributions to be part of superannuation savings.
In 2004, NCSL had 18,164 members and this has grown significantly over the last 12 years where the membership is over 95,000 NASFUND contributors nationwide.
NCSL has led the other savings and loan societies in Papua New Guinea (PNG) through constant membership growth and introduction of innovative services to improve and enhance customer service for the convenience of our members. We continue to provide attractive savings and loan products which are reviewed annually by management to ensure our product offering is suitable and affordable to meet short term financial needs.
NCSL has a good history of strong financial performance since its inception, and has built its brand via innovative services in PNG and the South Pacific.
Over the last 5 years, on average, NCSL members have received 5.5% annual interest on their savings account.
NCSL is regulated by the Bank of PNG and is also a member to PNG’s Federation of Savings & Loan Society (FESALOS).