Since its inception in 1972, the Papua New Guinea Teachers Savings & Loan Society has grown into being the largest Credit Union in Papua New Guinea, and the Pacific – part of the World Council of Credit Unions – a worldwide group of not-for-profit financial cooperatives that provide an effective and viable alternative to banks.
As part of its membership to WCCU, TISA employees took time to commemorate International Credit Union Day today.
With the theme “Dream Thrive Here”, employees took time off from their busy schedule to reflect on how far TISA has come, and also look at ways to improve service to their contributors.
According to TISA Head of Corporate Services, Poni Korua, it was fitting for TISA to commemorate this day, especially given the tremendous advances that TISA has achieved in recent years, in delivering products to its members.
“TISA is proud to be associated with the Credit Union Movement and we have proudly served more than 50,000 teachers and Public Servants and Government State Enterprises employees around the country for the last 45 years since 1972 with our Vision “Not For Profit, Not For Charity But For Services”.
Whilst teachers still make up a significant proportion of overall contributions, there are growing numbers of contributors from other sectors of the public service.
Having a foothold in the savings & loans business for the public sector, there also plans to venture into the private sector, with an offering for private sector employees – this though dependent on when the new Savings & Loan Act comes into effect.