NCSL continues member info update process

The National Business
Vari Lahui

By DALE LUMA
NASFUND Contributors Savings and Loans (NCSL) members’ ability to apply for loans has been impacted due to the member record update exercise currently in progress, says chief executive officer Vari Lahui.
Lahui told The National when responding to queries that NCSL had been undertaking an exercise to update its records which had missing details of member records such as the following:

  • SIGNATURES;
  • PHOTOS;
  • BENEFICIARY name(s);
  • RESIDING town;
  • EMAIL address; and,
  • PHONE numbers.

“The exercise is very important to ensure that we are dealing with a genuine member and not an imposter,” he said.
“The above personal details will allow us to positively identify a member before allowing a transaction on an account to prevent instances of fraud which has happened in the past.”
NCSL is urging its 143,000 members to update their personal member details.
Lahui said it was about ensuring that members’ funds were secured and safe.
“Despite sending a lot of reminders to our members in the past, the response has been very slow and given the large number of account records that required updating, we have decided to make it mandatory on our system for records to be updated on an account before the system can allow a transaction to occur,” he said.
“As a result, we now have a lot of our members responding with the required information.
“We have recruited additional resources to assist with updating the system with the information as soon as we receive them from our members.
“We are confident that within the next few months, we will finalise this cleansing exercise and members will be able to transact on their accounts without any hindrance.
“We are in the process of having in place an automatic response from the system as soon as a member’s personal details have been updated, allowing them normal access to their accounts and progress their transactions.”