NSLS considering name change, rebranding

The National Business
John Cholai

By NATHAN WOTI
NAMBAWAN Savings and Loan Society (NSLS) is considering a rebranding and a name change as it aims to become the leading savings and loans society in the country.
NSLS chairman John Cholai said the board was in discussions to consider a name change, which would be followed by other changes and improvements to the society.
He said that this was to improve the services for its members and create an environment in the savings and loans society which would encourage Papua New Guineans both in the public and private sector to save with them.
“As part of the changes happening, we now have launched our new corporate uniforms. This is part of the branding to put us out there, not only to our members but to the public who might be interested in joining NSLS,” Cholai said.
“We are aiming to be the number one savings and loan society in the country and that is why we are putting out our saver products such as Pikinini Saver which has a four per cent interest rate per annum and no monthly fees,” he said.
“We also have the Housing Saver which has a five per cent interest on savings per annum, and Tertiary Saver, which also have a five per cent interest on savings per annum and no monthly account keeping fees.
“This is so that we promote the long term savings culture among our young people and children as well as improve quality of life for our members,” Cholai said.
Going forward, chairman Cholai highlighted that NSLS would target the following:

  • 25 per cent year-on-year member’s growth rate, with strong brand awareness and appeal, targeting young people and the female population;
  • ENCOURAGE customer service enhancement by having quality staff and high standards and values in workplace;
  • ENCOURAGE Pikinini, Housing and Education saver options for all its members;
  • EXPANDING its loan services to micro to small and medium enterprises (MSME); and,
  • GREEN Financing to help members build resilience to the impacts of climate change.

Cholai is an engineer and entrepreneur and has over 20 years management experience in the private and public sectors.