K23mil for Tisa members


TEACHERS Savings and Loans Society (Tisa) yesterday announced K23 million in additional bonus interest to be paid to members.
Chairman Gabriel Tai said Tisa members could immediately access their money using the YumiCard.
“Members who do not have a YumiCard are advised to apply for a card at their nearest Tisa branch,” he added. Highlighting the 2021 financial performance, Tai said after another challenging year, the Tisa Group was pleased to announce a audited net profit of K61 million.
This record financial result enables Tisa to keep a promise it made last year, which was to reward its members with a seven per cent additional bonus interest.
The group’s loan book grew by four per cent to K32 million.
For the past 12 years (2009 to 2021), the society had paid its members an accumulative additional interest of K252 million.
Members savings and deposits as at Dec 31 was K408 million, a fall of seven per cent from the previous year.
“This reflects the effect of the Coronavirus (Covid-19) on members saving habits,” he added.
Chief executive officer Michael Koisen said: “We have operated over and above our budget last year, particularly under the circumstances forced by the Covid-19 pandemnic which strained both domestic and the world economy.
“The total asset position of the group is K910 million pushing to reaching a billion Kina.
“Hopefully, in the next 18 months, we can exceed the billion-kina asset size,” he added.