Business News Southern

TISA Opens Branch in Popondetta

By Michelle Amba – EM TV, Port Moresby

Teachers Savings and Loans Society has opened its 15th Branch, this time in Popondetta, Northern Province.

After nine years of operation as a sub-branch, the province finally welcomed a full branch.

Northern Province has a total of 2, 000 financial members and with its full branch status; TISA anticipates an increase in membership.

TISA financial members in Oro can now enjoy the benefits of receiving fast turnaround time on their loans and savings withdrawals in Popondetta.

Out of its 40,000 members, 24,000 are teachers and education department employees; the remaining balance is other public servants including State Owned Enterprise employees.

TISA Board Chairman, Gabriel Tai, said the financial institution plans to open up provincial branches in its drive to bring services to the members doorsteps.

“The Society currently serves a membership population of 40, 000 and with the up-grade roll out it aims to increase the membership population to 60, 000 by year 2016,” said Mr.Tai.

He said from 3 regional offices in Lae, Mt.Hagen and Rabaul in 2002 TISA now has 16 branches including Kiunga which is expected to be opened in December this year.

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