NCSL member a happy chappy

IT is great and welcome news that Nasfund Contributors Savings & Loan Society (NCSL) members will have a visa debit card branded under NCSL by next February.
As a Nasfund contributor and a member also contributing to NCSL, I was very happy to read about this in The National on Thursday, Dec 6.
Firstly I would like to give credit to NCSL management, from the janitor to the directors, for their tireless efforts in making this possible as another step forward to make NCSL a one-stop shop/bank by 2020.
Making this possible within a set timeframe is the result of honest, diligent and prudent management.
I feel that this is the right place for me to continue my voluntary contributions knowing that afterwards NCSL will become a one-stop shop-bank for me to save and access my savings.
Commercial banks charge fees and have strict policies for loans.
For example, if you are a low or middle-income earner and you want to obtain a loan from BSP, your net pay should be K500 plus, meaning that your annual net salary (after necessary deductions) should be around K13,000 and above.
It is the same for people banking with Westpac; their annual net pay should be K17,160 a year or K660 a fortnight to be able to apply for a personal loan.
I have enquired with both BSP and Westpac and have been unsuccessful because my net pay is below K500.
We all know that every organization has rules to follow and those rules are there for a reason.
We have to leave the commercial banks to the high income earners and business community.
Simple, ordinary workers, especially those of us who work in the private sector and don’t earn much, should change focus and stay with savings and loans societies to protect the little we earn.
Thank you Nasfund Contributors Savings and Loan Society for making this possible.

Hanam Bill Sandu
NCSL Member
LAE