Tisa allows 3-month repayment holiday

The National Business

THE Teachers Savings and Loans Society (Tisa) is allowing a three-month loan repayment holiday to members impacted by the Covid-19.
Chief executive officer Michael Koisen said, in a statement, that it was in support of the Bank of PNG’s efforts to address financial hardships.
Tisa subsidiary, Tisa Community Finance (TCF), will also be implementing the measures.
“Requests will be assessed on a case by case basis,” Koisen said.
“Defaulters impacted by Covid-19 will be exempt from reporting to restructures, recurring management fees and delinquencies as a consequence of Covid-19. Both Tisa and TCF will maintain business operations to ensure essential critical financial services continue to be made available to members and clients.
“We will assess and determine operating hours where required and advise BPNG of any changes.
“We will continue to ensure that the health and safety of our staff, members and clients are protected at all times.”
Tisa has 62,000 members around the country.

5 comments

  • It’s really good to see that TISA is finding solutions to help citizens during this tough times. Let’s hope their are other institutions who will take measures of this kind to help those affected by the Corona Virus.

  • When are we going to be paid interest for 2019 financial year. CEO has already confirmed a windfall so please pay us some good interest.

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