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1 NCSL Vibe - Monthly Newsletter Volume 2, Issue 11 VOLUME 2, ISSUE 11 November 2017 I N S I D E T H I S I S S U E 2 GM s Christmas Message We communicate NCSL activities and results Member purchases goods under FairPrice Credit Facility 3 FairPrice Credit Scheme 4 Navy Officers open savings accounts with NCSL 5 NCSL; 14 Years in Operation 6 Nominations for Third Party Accounts restricted 7 NCSL A Great Way to Save 8 Xmas Promotions NCSL HEAD OFFICE INFORMATION NCSL Haus, Douglas Street, Lot 3, Section 4, Port Moresby, P.O Box 7732, Boroko, N.C.D Papua New Guinea NCSL is focused on providing more savings & loan facilities for members to improve their way of life while continuing to deliver consistent quality service. To improve the life style of its members, NCSL recently partnered with Natu Investments (PNG) Ltd to offer NCSL FairPrice Credit Scheme to purchase items through NCSL s lending products. Natu Investments (PNG) Ltd operates as FairPrice and has been operating in Port Moresby since Since its launching early November, Sylvie Rupa Ikufu of Central Province was the first customer to purchase goods for her newly built home. I have been considering the purchase of some household items for my new house but just thinking about my expenses and waiting for the right time to purchase. This opportunity came along when NCSL Moresby: NCSL member Sylvie Rupa Ikufu with children at FairPrice Showroom after her loan was approved to purchase goods under NCSL s new Credit Facility. FairPrice Credit Scheme was introduced, she said. I learnt of the Scheme when the owner of FairPrice, Christopher Elphick, accompanied by NCSL staff came by our office to do an awareness on the new lending product and terms and conditions as well as the price of goods on offer attracted my attention. NCSL General Manager, Vari Lahui said the Society already has some of the best lending processes available which enables quicker turn-around of loan applications and is confident that it can continue to provide an efficient service under this new arrangement. One of the goals of this initiative is to attract new membership and the attractiveness of the offerings under this arrangement with Fair Price will enable NCSL to achieve this. said Mr Lahui. (Story continues on page 3)

2 Volume 2, Issue 11 NCSL Vibe - Monthly Newsletter Vari Lahui General Manager General Managers Message Warm festive season greetings to you all You will be reading this edition of NCSL Vibe in the middle of the festive season and will be busy with carrying out your plans to celebrate with friends and family. Christmas is about celebrating the birth of our Lord and Saviour and reflecting on our own lives and considering making changes in the way we live our lives to follow the teachings and examples of Jesus Christ. NCSL will be celebrating 15 years of existence towards the end of next year and we are thankful for His continued guidance and blessings which has enabled NCSL to be what it is today. During our second AGM held this year, a proposed change in the NCSL Constitution was approved which now allows us to invite membership outside the NASFUND membership base. This change aligns with the spirit of the revised Savings & Loan Societies Act which now allows multiple membership between societies and provides the environment for savings and loan societies to naturally progress towards becoming a bank. We have commenced activities to promote membership among workers in the public sector and stated-owned enterprises and we believe we have the right system and the products and services as an attraction. We continue to work on initiatives which we believe will further enhance member experience when interacting with us. Some of the initiatives we rolled out this year include; * Reconfiguration of standalone branches in Boroko and Lae. * Revamped the NASCARE offering * Introduced the Fairprice credit scheme * Introduction of portable member registration capability. * Reconfiguration of BIS touchscreens at all branches with plans for their introduction in high traffic areas * Expansion of the Value back Program * Webcams at all branches We continue to progress work on other exciting initiatives and we will advise on these when we are in a position to roll them out. We will also recommence our member survey so that we can obtain feedback from our members on what they would like to see in our product and service offerings. We are also in the process of upgrading our servers to accommodate the growing number of members and transactions on our system while further improving the security of our systems to guard against any external attacks. We will commence the testing of our Business Continuity Plan and Disaster Recovery Plan once the server upgrades are completed so that we can take comfort that any business disruption will be kept to an absolute minimum in any event of natural disaster. You can see from the above that it has been another busy year at NCSL and we will continue with our efforts to deliver good quality service in a consistent manner while making it convenient for all our members when interacting with us. I take this opportunity, on behalf of the Staff, Management and Board of NCSL to wish each and every member of NCSL and their families a very Merry Christmas and may the New Year bring good tidings and prosperity. 2

3 NCSL Vibe - Monthly Newsletter Volume 2, Issue 11 (Continued from front page) Financially empowering NASFUND members OUR MISSION, VISION & VALUE STATEMENT VISION STATEMENT To become a one-stop-shop bank by 2020 MISSION STATEMENT To improve the quality of our members lives through security, returns, services and product range we offer. VALUE STATEMENT Customer service is our first priority. We rely on teamwork to achieve our goal. We treat each other with trust, respect, consideration and courtesy. We operate with honesty and integrity. We never turn a blind eye to corruption of any kind. We encourage efficient use of time. We encourage and reward skill level, progress and contribution. We are responsible for our actions. We provide necessary training and equipment. We include the necessary people in decision making. We empower people to make and carry out decisions. We are a learning organization. We communicate NCSL activities and results. We support community activities without impacting on members funds. We protect the reputation of NCSL by behaving ethically. Surrounded by FairPrice Staff and NCSL representative; Ms. Ikufu is all smiles, ready to collect her goods to furnish her new home. The NCSL constitution was recently amended and we have started onboarding employees from the public sector. The Credit Scheme invites non-members (including public servants) to join NCSL and make purchases under the credit scheme which is limited to NCSL members only. Mr Lahui said. Ms Ikufu said, the attraction was the low repayment amounts and the 1% monthly interest rate charged by NCSL on the reducing loan amount every month. Such an offer at 1% interest rate per month on the reducing loan balance was irresistible and I know I will come back for more, she said. NCSL General Manager Mr Vari Lahui said the Society is happy to offer this new product to its members and the staff are more than happy to talk to any of the NCSL members regarding this new offering. Left: Sylvie and her two children, Darren and Hannah showing off their new sofato-bed couch for their living room 3

4 Volume 2, Issue 11 NCSL Vibe - Monthly Newsletter Port Moresby: Navy officers at the Lancron Naval Base listening attentively as Member Services Manager Robert Thadeus presents on products and services offered by NCSL. More than 60 Navy officers at the Lancron Naval Base in Port Moresby attended NCSL s awareness presentation to learn about the products and services the Society offers to its members. Member Services Manager, Mr Robert Thadeus said a good number of navy officers were interested to save with NCSL. More than half of those present during the awareness session provided their signed membership applications and we are expecting to receive more new membership applications from the Naval base, said Thadeus. The Society has visited other government departments and State-Owned Enterprises since the amendments were made to NCSL Constitution to allow membership outside the NASFUND membership base, particularly to the workers in the public sector. To schedule an appointment for NCSL s awareness presentation, please marketing@ncsl.com.pg or call

5 NCSL Vibe - Monthly Newsletter Volume 2, Issue 11 NCSL; 14 Years in Operation Port Moresby: Fourteen years of financially empowering NASFUND members and the Society has more to offer. Featured is General Manager Vari Lahui sharing the success with a smile on FM100 airwaves with Talkback Show host, Douglas Dimagi. General Manager Mr Vari Lahui reviewed the years since inception in 2003 when giving an overview of NCSL s 14 years in operation. Mr Lahui stated that the Society had performed well throughout its years of successful consistent and quality service operation delivery to our members. and has grown its membership from 18,164 when it began to its current membership base of just over 96,000 members. We will maintain our focus on He also highlighted some of the milestones achieved throughout the years such as NCSL establishing two of its own stand-alone branches in Lae and Boroko and further advised the Society s continued focus on improving its products and service delivery to members. We will maintain our focus on consistent and quality service delivery to our members and we will look at other innovative products and services for members satisfaction, said Lahui. He added that there were more innovative products and services expected in 2018 when the Society will also celebrate its 15 years of operations in Papua New Guinea. One of these initiatives is to introduce debit cards to its members and there is work in progress to deliver this in These initiatives are all part of the Society s strategic plan that has been approved by the Board towards the plan to become a one-stop-shop bank by NCSL now offers membership outside the NASFUND membership base and is now inviting non-nasfund contributors, including public servants, to join NCSL and become part of a progressive Society that offers innovative products and services. NCSL has regular fortnightly radio appearances on Fm100 Talkback Show from 9-10am and invites members and the general public to tune in to hear about our financial products and service offerings. Member Services Manager Robert Thadeus and Lending Manager Bernard Geita share information with host Douglas Dimagi. 5

6 Volume 2, Issue 11 NCSL Vibe - Monthly Newsletter NCSL Restricts Payments to Third Party Accounts The Society has reviewed its withdrawal guidelines and has identified that there are members nominating third party accounts to have their savings withdrawals deposited into. This is now restricted. Member Service and Branch Support Manager, Robert Thadeus said members nominating third party accounts to have funds paid into will not be entertained as this is against the withdrawal guidelines. We have received applications from branches and other NCSL staff where members have lodged their savings withdrawal applications and nominated a Third Party Account for their funds to be deposited/credited, this is now restricted, Thadeus said. He said except for payment of funds from the Education Savings account to Education Institutions and/or suppliers of school uniforms and education materials. Proceeds of withdrawals from the General Savings and Christmas Savings accounts must not be paid to a Third Party account under any circumstances at all. Members must have their own personal bank accounts for funds to be deposited/credited. Payments of proceeds of withdrawals from General Savings accounts and Christmas Savings accounts must be paid directly into the member s own account and these accounts must be with the three commercial banks, 1. Bank of South Pacific (BSP), 2. Westpac 3. ANZ He said NCSL will not deposit funds into any third party account and the application will not be processed until a member provides his/her own personal account for funds to be credited. This may also cause a delay in members funds being approved to members accounts however this policy is in place to protect members funds from ending up in the wrong hands. Should you require further information or clarification about Third Party accounts, please call Robert Thadeus on or rthadeus@ncsl.com.pg Do you have an interesting story to tell about how your NCSL savings assisted you in meeting a financial need? newsletter@ncsl.com.pg and have your story published in our monthly newsletter NCSL VIBE. Not only that, but you also receive a FREE T/SHIRT Conditions are: 1. Positive story 2. Photograph to be provided with caption 3. Willing to provide additional information 4. Agree that the story can be sent to media 5. All information provided to Media Officer must be accurate 6. Media Officer has the discretion to select suitable stories to publish 6

7 NCSL Vibe - Monthly Newsletter Volume 2, Issue 11 NCSL - A Great Way to Save We value your comments and queries to help us assist you and to also improve on our services. West New Britain: Maula Kimbe who is a fruit truck driver with New Britain Palm Oil at the plantation site loading Palm Oil onto the fruit truck for processing. Insert: Maula Kimbe. Maula Kimbe is a fruit truck driver with New Britain Palm Oil Limited (NBPOL) and shares his story on how his NCSL savings has helped him and his family. Maula originates from the Highlands region and has been saving with NCSL since 2014 and has seen the reward of his savings assisting not only him, but his family, friends and colleagues at NBPOL in Kimbe, West New Britain Province. After learning of NCSL from NASFUND office in Kimbe, Maula started saving with NCSL encouraging friends to save along as well. I am happy with my savings which really help me and my family meet our travelling expenses to our home village in Simbu, meet my children's education expenses, and also my personal commitments. And with only 1% interest charged per month on my loan account, I still get that returned to me through the monthly interest NCSL pays to members accounts every month end. That is a bonus. Maula said. He added, I can have an outstanding loan but when I m financially in need, the system itself will generate, confirm my eligibility and automatically approve, when I lodge my application to NCSL. NCSL has provided a great service to members to apply online via mobile phones, computer and biometric identification system (BIS). The Society has truly met the needs of its members to provide easy access to services and delivery of members funds anywhere. he said. Now I am happy with NCSL and do not need to go to the commercial banks and I know there are more people out there who need to know the benefits of saving with NCSL especially here at NBPOL. Have an interesting story of how your NCSL savings assisted you in meeting a financial need? Share your story with us by sending an Find us on Facebook NCSL Closed Group NCSL s Closed Group Facebook page is a Corporate page and we intend to maintain professionalism in serving members, therefore members are advised to use real names so Admin staff can quickly identify and assist you. 7

8 Volume 2, Issue 11 NCSL Vibe - Monthly Newsletter STORY & COMPILATION Ms. Ursula-Jane Bogg Media & Communications Officer GRAPHICS & LAYOUT Mr. Freddie Vaieke Graphics Officer EDITOR Ms. Evelove Farapo Marketing & Client Relations Team Leader 8