Society launches housing, education savings products

By PETER ESILA
NAMBAWAN Savings and Loan Society (NSLS) has launched two savings products, the tertiary education and housing equity savers for its members.
NSLS chairman John Cholai said during the launch in Port Moresby on Friday that the products were special purpose savings products designed to meet its members’ tertiary or higher education expenses and catered for housing expenses consistent with its objective towards developing products to improve members and their family quality of life.
“As a member-focused financial institution that encourages our people with the tagline of ‘Savim moni, na stretim sindaun’ (save money, secure well-being) we are convinced that we must empower our people with the right financial products that will improve their quality of life,” Cholai said.
“Our first product recognises the need to support especially our young people that have just joined the workforce and parents of those who have just completed grade 12, the tertiary education saver will help them plan a bright future for themselves and their children.” He said the fund believed that attaining better tertiary qualifications would enable the younger generations to become more environmentally conscious, have healthier habits, have a higher level of civic participation and be prepared for industry-related skills.
He said the second product addressed the accommodation costs in the country, especially urban areas. “NSLS decided to introduce this new product (housing saver) purposely to encourage its members and potential clients to start saving for their dream homes.