A strategic agreement has been signed between Nasfund and National Contributors Savings & Loans Society that will allow Nasfund members to elect to use NCSL’s Poro accounts to facilitate a seamless withdrawal of their super funds.
Termed as the “service under one roof” concept, this arrangement is now in place to benefit Nasfund members who can easily move their funds between Nasfund and NCSL.
Nasfund CEO, Ian Tarutia said this arrangement further strengthens the collaborative efforts between the two organizations who share the same membership base and complement each other in their offerings to members.
“Our primary focus is to always provide our members convenient, affordable, and efficient services.”
“Exiting Nasfund members can now elect to use their NCSL poro accounts and other NCSL savings accounts to accommodate their superannuation fund withdrawals,” says Tarutia.
The “service under one roof”, basically refers to an express lane that is now available to assist Nasfund exiting members that have difficulty in accessing banking services in a timely manner to assist with their superannuation payouts.
NCSL CEO Vari Lahui said with NCSL’s swift onboarding process, these exiting Nasfund members will be able to register within minutes, enabling faster turnaround times for both organizations.
NCSL promotes a savings culture and also has other financial services available to these exiting members.
NCSL is also in the process of launching a loan facility for its members who are interested in undertaking activities in the small-to-medium-enterprises (SME) sector. This facility is set to be launched in November 2020.
“This express lane also provides an added pathway to foster an inclusive financial effort in line with the government’s development goals to promote a savings culture where members will be advised on savings and/or using funds to facilitate and enable them to participate in the SME space,” added Lahui.
The express lane service is now available in all NCSL and Nasfund branches nationwide.
