NCSL gets approval to accept non-members

Business

THE Nasfund Contributors Savings and Loan Society Limited has received approval of its revised constitution to allow membership outside the Nasfundmembership base.
This means that it can now accept membership requests from non-Nasfund members including public servants and the public.
The change in the constitution was approved during its second annual general meeting in May this year. It has now been ratified by the registrar of savings and loan societies.
NCSL general manager Vari Lahui said it was another historical moment for the society and was part of its progression towards becoming a one-stop-shop bank.
“We have received confirmation from the registrar and will now commence active promotion of membership outside the Nasfund membership base, especially to the public servants,” Lahui said.
He said the previous rules restricted NCSL’s ability to register non-Nasfund members which limited the society’s membership growth prospects.
He said the move to change the NCSL constitution was aligned with the spirit of the revised Savings and Loan Societies Act which now allowed for multiple memberships between societies.
NCSL board chairman Ian Tarutia said the change would now give non-Nasfund members the opportunity to be part of a progressive and growing savings and loan society.

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