Wednesday, 26th July, 2023

Members Notice

TEMPORARY CLOSURE OF WABAG BRANCH

Dear Valued Members,

Our Wabag Branch is temporarily closed for an indefinite period due to civil unrest.

ncsl strongly urge Wabag based memebers to utilise the available e-Channels.

We apologise for any inconvenience caused by this temporary closure and will provide updates on a regular basis.

For further assistance, do reach out to our Call Centre team at 2072000 or email helpdesk@ncsl.com.pg

Authorized by Management

Monday 24th July 2023

Members Notice

Public Holiday – NATIONAL REMEMBERANCE DAY

Dear Valued Members,

Monday 24th July is a gazetted public holiday – National Remembrance Day, to remember and honor PNG soldiers who have fallen during military engagements.

All ncsl branches during including our head office will be closed on the stated date.

Normal business operations will resume Tuesday 25th July.

To access our financial services, we encourage our members to utilize e-Services which are readily available.

We are wishing you a safe public holiday.

Authorized by Management

Friday, 30th June, 2023

Members Notice

ROUTINE SYSTEM MAINTENANCE

Dear Valued Members,

ncsl will be carrying out it’s routine month end system rollover from 10pm tonight, Friday 30th June.

This will be followed by a system upgrade from 1am until 12pm, Saturday 1st July 2023. This upgrade is necessary to improve services to our members.

During this period, all our digital channels will be unavailable.

We will keep you updated on the restoration of services.

Thank you for your understanding.

Authorized by Management


Thursday 15th June, 2023

Members Notice

PUBLIC HOLIDAY – FRIDAY 16TH JUNE 2023

Dear Valued Members,

Friday 16th June 2023 is declared as a Public Holiday to observe the Official Birthday of His Majesty, King Charles III.

All ncsl branch offices throughout the country including the Head Office will be closed on Friday 16 June 2023.

Normal business operations will resume on Monday 19th June 2023.

Authorized by Management




Wednesday 14th June, 2023

Members Notice

MOBILE Banking (*628#) Service Update

Dear Valued Members,

We are pleased to inform Bmobile and Telikom users that services are now fully available on our Mobile Banking platform.

Dial *628# & follow the prompts to access:

  • Balance Enquiry
  • Savings Withdrawal
  • Loans
  • Transfers

We thank you for your patience. If you have any queries or concerns, contact our call center team on 207 2000

Authorized by Management


Tuesday 13th June, 2023

Members Notice

BRANCH UPDATE

Dear Valued Members,

We are pleased to advice that services have been fully restored at Wewak, Maprik, Vanimo and Kavieng branches.

We thank you for your patience as we work towards restoring service at the remaining branch in Wabag.

If you have any queries or concerns, please contact our call centre on 2072000

Authorized by Management


Tuesday 6th June, 2023

Members Notice

MOBILE Banking (*628#) service maintenance

Dear Valued Members

Pleased be adviced that ncsl will be carrying out a scheduled maintenance on our Mobile Banking system on Wednesday 7th June 2023, from 10:30pm – 11:00pm

During this time, Mobile banking service will be unavailable. We will advise as soon as services are restored.

Thank you for your understanding and continuous support

Authorized by Management


Friday 2nd June, 2023

Members Notice

BRANCH UPDATE

Dear Valued Members

We are pleased to advise that services have been fully restored at our Kimbe, Bialla and Lihir branches.

We expect to restore services to all remaining branches by Friday 9th June 2023.

We thank you for your patience and will continue to provide progressive updates.

If you have any queries or concerns, please contact our call centre on 2072000.

Authorized by Management


Wednesday 31st May, 2023

Members Notice

PLANNED SYSTEM MAINTENANCE

Dear Valued Members

As part of ncsl’s usual end of month processing, all digital channels will not be accessible tonight Wednesday 31st May 2023 from 10pm to 12am.

We will advise as soon as processing is completed, and digital services are available.

Thank you for your patience and continuous support.

Authorized by Management


Thursday 25th May, 2023

Members Notice

Branch Update

Dear Valued Members

We are pleased to advise that services have been fully restored to our Alotau and Madang Branches

We thank you for your patience as we work to restore services at our remaining branches nationwide. We will provide progressive updates once they become available

If you have queries or concerns, please contact our contact centre on 207 2000.

Authorized by Management


Wednesday 24th May, 2023

Members Notice

Timely allocation of Contribution from Employers

Dear Valued Members

We are currently experiencing delays with timely allocation of employers contributions due to BSP’s new core banking system upgrade. The New System does not allow ncsl to download bank statements with complete subscriptions on deposits.

Due to this, we are having difficulties allocating payments/contributions to member accounts.

Members are encouraged to use alternative bank accounts listed below when transfering contributions or loan payments. Please expect delays in updating of your contributions if you are still depositing your contributions if into our BSP accounts.

Your cooperation is greatly appreciated as we work with BSP to resolve this issue. If you have questions or concerns, please contact our call centre on 207 2000.

Authorized by Management


Friday 19th May 2023

MEMBERS UPDATE

Public Holiday – MONDAY 22nd MAY 2023

Dear Valued Members,

Monday the 22nd of May, 2023 is declared a public holiday for the National Capital District to mark the occasion of the forum of India-Pacific Islands Cooperation in Port Moresby.

Our Branch operations in NCD and our head office will be closed and we will resume normal operations on Tuesday May, 23, 2023. All other ncsl branches will operate as normal.

Authorized by Management


Thursday 18th May 2023

MEMBERS UPDATE

BRANCH UPDATE

Dear Valued Members,

We are pleased to advise that services have been fully restored at our Goroka and Tabubil branches.

We thank you for your patience as we work to restore services at our remaining branches nationwide. We will provide progressive updates once they become available.

If you have any queries or concerns, please contact our call centre on 2072000

Authorized by Management


Tuesday 16th May 2023

MEMBERS UPDATE

PLANNED SYSTEM MAINTENANCE

Dear Valued Members,

A planned system maintenance will take place this evening between 8pm and 9 pm.

During this time, services on our e channels will be unavailable. We apologize for any inconvenience this may cause.

Thank you for your understanding

Authorized by Management


Thursday 11th May 2023

MEMBERS UPDATE

TIMELY ALLOCATION OF CONTRIBUTIONS FROM EMPLOYERS

Dear Valued Members,

We are currently experiencing delays with timely allocation of employer contributions due to BSP’s new core banking system. The new does not allow NCSL to download bank statements with complete descriptions on deposits

Members are encouraged to use alternative bank accounts listed below when transfering contributions.

Your cooperation is greatly appreciated as we work with BSP to resolve this issue. If you have any questions or concerns, please contact our call centre on +675 207 2000.

Authorized by Management


Thursday 11th May 2023

MEMBERS UPDATE

Delay in payments to Members with BSP Accounts

Dear Valued Members,

We continue to experience issues with processing payments via BSP. We are anow processing payments to our BSP members accounts via Kina Bank. This may cause a slight delay in funds being credited to members BSP accounts, and we apologize for any inconvenience this may cause.

Members are advised to provide bank accounts in alternate commercial banks for faster processing.

We are working closely with Kina Bank and BSP to manage this process.

Thank you for your patience and understanding.

Authorized by Management


Wednesday 10th May 2023

2023 Employer Presentation

HILTON HOTEL – BANQUET HALL 3

Download PDF


Monday 08th May 2023

MEMBERS UPDATE

Dear Valued Members,

Our Port Moresby and Waigani Branches are currently offline

We are working hard to restore full services and will advise once both branches are back online

We apologize for any inconvinience caused

Please contact our call centre on (+675) 207 2000 for all your enquires or visit our Boroko branch

Authorized by Management


Friday 05th May 2023

ncsl announces K16.1M Profit and Interest Crediting Rate of 6.0%

Nasfund Contributors Savings and Loan (ncsl) continues strong income and profitability momentum delivering a healthy crediting rate of 6% to members, despite a challenging economic backdrop. The ncsl Board has approved an interest crediting rate of 6% to ncsl members for the financial year ending 31 December 2022.

This equates to K 14.9 million that will be allocated to the savings accounts of over 142,000 members. During 2022 ncsl paid an interim interest of 1.2% to members’ savings, equating to K 3 million. After statutory reserving of 20%, ncsl will be paying an additional 4.8 % or K 11.9 million in interest to members. This is a total of 6% for the 2022 financial year equating to a total of K 14.9 million interest on savings for ncsl members.

Other highlights for 2022 were:
* Total Assets increased by 9.1% to K 312.5 million
* Net Asset Value increased by 15.8% to K 38.5 million
* Revenue from core business increased by just over 6.6% to K 29.4 million
* Total Revenue increased by 8.5% to K 39.5 million.
* Net Profit increased by 16.4% to K 16.1 million (after expenses including interim Interest Payment to Members and Loan Provisioning)
* Sound General Reserves increased by 20.3% to K 24.8 million,
* Interim Interest Payments to Members increased by 9.6% to K3.0 million.
* Total membership increased by 0.4% to 142,340 members
* Members Savings increased by 8.2 % to K 267.9 million.
* Net Loan portfolio increased by 9.6% to K 139.4 million
NCSL’s final interest crediting rate of 6.0% is above the average crediting rate of 5.5% paid to members over the last 5 years and maintains ncsl’s record of providing strong, positive, and consistent returns on member funds deposited with ncsl. With steadily increasing membership, ncsl is one of the largest Savings and Loan Societies in Papua New Guinea and the Pacific Region.

NCSL Chairman Mr Tarutia said, “NCSL continues to grow from strength to strength, and remains committed to supporting the aspirations of our members by delivering essential and affordable financial services. I thank the Chief Executive Officer, Vari Lahui and his hard-working team for delivering these strong results over 2022 for the benefit of our members.”

AUTHORISED BY

IAN A. TARUTIA, OBE

Download PDF


Friday 28th April 2023

MEMBERS UPDATE

PORO CARD UPDATE

Dear Valued Members,

We are continuing efforts to restore the Poro Card network. Our technical team is running important tests and checks on our Poro Card network.

Poro card services will continue to be offline until further notice. We are working closely with the regulator to finalize this matter.

In the meantime, funds in the Poro accounts can be accessed by initiating transfers to your commercial bank account. If you have any queries regarding accessing your Poro card funds, please contact our call centre on 2072000 between 8am and 5pm Monday to Friday.

We sincerely apologise for any inconvenience caused and thank you for your understanding.

Authorized by Management


Dated Thursday 25th of April, 2023

MEMBERS NOTICE

MOUNT HAGEN BRANCH SERVICES FULLY RESTORED

Dear Valued Members

We are pleased to advise that services at our Mount Hagen branch have been restored and it is now fully operational. Services at our NCD and Lae branches have also been restored and they are now fully operational

We are working towards restoring services at the other branches and will provide progressive updates.

We apologise for any inconvenience caused and thank you for your patience.

If you have any queries or concerns, please contact our call centre on 2072000.

Authorized by Management


Dated Thursday 20th of April, 2023

MEMBERS NOTICE

PORO CARD UPDATE

Dear Valued Members

Our technical team are continuing to run important tests and checks on our Poro Card Network. This has taken longer than expected. Poro cards services will continue to be offline until further notice

We are working closely with the regulator to improve this situation and will provide updates as soon as they become available

Poro card funds can be accessed by transfering funds to your commercial bank account. If you are transfering funds to a BSP account, pleas expect delays to the normal processing time due to circumstances beyond our control.

We sincerely apologise for any inconvinience caused and thank you for your understanding

Authorized by Management


Dated Tuesday 18th of April, 2023

MEMBERS NOTICE

BRANCH UPDATE

Dear Valued Members

We are pleased to inform members that services have been fully restored to our lae branch.

We thank you for your patience and understand as we work to restore connectivity to our branches nationwide. We will provide updates as soon as they become available.

Please contact our call centre on 207 2000 if you have any further enquiries.

Authorized by Management


Dated Monday 17th of April, 2023

UPDATE ON TRANSFER TO BSP ACCOUNTS

Dear Valued Members

Following delays caused by BSP’s system upgrade over the Easter long weekend, all transfers to BSP accounts made from thursday 6th of April to Friday 14th of April 2023, have now been manually processed

If you have made a transfer during this period from your poro account to your BSP account, these funds will be now available

If you are awaiting a loan drawdown to be credits to your BSP account which was approved during this period, these will now be available

We thank you for your patience and apologize for any inconvenience caused by the delay.

Authorized by Management

Download JPG


Dated Wednesday 12th of April, 2023

BSP Transfers Temporarily Unavailable

Dear Valued Members

Due to BSP’s ongoing systems maintenance, we are currently unable to process member withdrawals or loan drawdowns to BSP bank account for members. this is a situation beyound our control, and we apologise for any inconvinence caused.

We will advise as soon as the BSP system has been restored and we are able to process member withdrawals to BSP accounts

We thank you for your patience and understanding

Authorized by Management

Download JPG


Dated Thursday 13th of April, 2023

PORO CARD UPDATE

Dear Valued Members

Our Technical teams are working hard to restore Poro Card services. Important tests will take place later this week. We will provide updates as they become available.

We are working closely with the regulator to restore Poro card services as soon as possible.

We sincerely apologise for any inconvinience caused.

Authorized by Management

Download JPG


Dated Wednesday 12th of April, 2023

BSP Transfers Temporarily Unavailable

Dear Valued Members

Due to BSP’s ongoing systems maintenance, we are currently unable to process member withdrawals or loan drawdowns to BSP bank account for members. this is a situation beyound our control, and we apologise for any inconvinence caused.

We will advise as soon as the BSP system has been restored and we are able to process member withdrawals to BSP accounts

We thank you for your patience and understanding

Authorized by Management

Download JPG


Dated Tuesday 11th of April, 2023

Branch Update: Boroko, Waigani & Port Moresby Branches are now Operational

To our Valued Members

We are pleased to inform our members that services have been fully restored at all branches in the national capital district

We are working hard to restore full services at our other branches around the country and will provide regulat updates

We thank all our members for your patience and understanding during the period of service outage. Please contact our call centre on 207 2000 for all queries.

Authorized by Management

Download JPG


Dated Wednesday 5th of April 2023

Peak Period: Easter Long Weekend & BSP Planned Outage

To our Valued Members

Friday 7th of April and Monday 10th April 2023 have been gazette as Public Holidays to observe Easter. Our offices nationwide will be closed on Friday and Monday 10th of April

During this time, BSP financial group limited will be implementing their new banking system over the Easter Long weekend and their services will be unavailable from the 7th to Monday 10th of April 2023.

NCSL Members with BSP accounts lodging applications for loans, withdrawals and transfers are advised to apply before the planned outage. NCSL will be processing 4 payment batches to BSP account holders on Wednesday 5th of April 2023 at these times of 9:00 am, 12:00 pm, 4:00 pm and 8:00 pm. Late application lodgment are subjected to BSP’s processing timeframes per outage notice.

We apologize for any inconvenience this may cause. We wish you a Safe and blessed Easter.

Authorized by Management

Download JPG


Dated Friday 31st March 2023

Our new call centre is up and running

NCSL has set up a new call centre to support our memebers who have been impacted by our recent system outages.

Please call +207 2000 between 8am and 5pm Monday to Friday for assistance.

Download JPG


Dated Wednesday 29th March 2023

Changes to Mobile banking from 31st of March 2023

Dear Members

From this Friday 31st of March, mobile banking will no longer be available on the Digicel network via USSD *628#. We sincerely apologize for any inconvenience this may cause.

You will still be able to access mobile banking via the Telikom and BeMobile networks, if you are currently a Telikom or BeMobile customer, via USSD *628#.Members currently on the Digicel network can still use the Member online portal.

Our team are currently working on additional options for mobile and digital banking with updates to follow next month. We appreciate your understanding as we work towards improving your member experience.

Authorised By Management

Download PDFDownload JPG


Dated Wednesday 29th March 2023

PORO CARD UPDATE

Dear Members

The Nasfund Contributors Savings and Loan Society Limited (ncsl) decided to shut down our IT system on Wednesday 01st March 2023 after we detected a security threat. As a result, our core banking system and customer facing online services were affected. Prudent action has ensured the safety of our system and the resumption of our online member services.

As a safeguard the Poro Card platform was taken offline. At present, Poro cards cannot be used on any Point-of-Sale terminals in shops or on ATMs. We are working to restore this service in the coming weeks and ask our members for their continued patience.

Should members wish to access funds from their Poro Card Account, they can initiate a manual transfer to their commercial bank account either online or at the nearest ncsl branch. We continue to work towards a solution for Poro Card users. We recognise and apologise for the inconvenience to our members. Regular updates will continue.

Authorised By Management

Download PDF

Subscribe to our newsletter