Forty-three businesses join Nasfund to access services in 2020

FORTY-three new businesses joined the Nasfund Contributor Savings and Loan (NCSL) Society this year to enable their employees to access the society’s financial services.
Chief executive officer Vari Lahui said the willingness showed by the management of those organisations demonstrated that those employers had empathy for their staff in fostering a savings culture so they could put away funds towards meeting specific needs and other unforeseen expenses.
He added that on-boarding new members and employers was starting to see an increase after the lifting of restrictions as a result of the Covid-19.
The newly-signed employers were from the public sector as well as from the private sector.
While membership to NCSL was previously restricted to contributors of Nasfund, a change in the NCSL constitution in 2016 allowed membership from anyone who was earning some form of income and was interested in saving money to meet their financial needs. The number of registered employers currently stands at 1,927 while total membership is around 133,000 and growing all the time, with regular on-boarding of individuals, their employers and new merchants for point-of-sale services nationwide.