Good news for the 60,000-plus members of the Teachers Savings and Loan Society Limited, TISA has announced an additional bonus interest of K19.6 million will be paid to financial members for the 2018 year.
Earlier in 2018, K7.1 million interest was paid to TISA financial members.
This announcement of the additional interest of K19.6 million now brings to total K26.7 million interest for the 2018 financial year.
“This represents 7 percent crediting rate on members’ general savings account,” TISA Deputy Chairman, Sam Nalong, said.
“This bonus interest is an addition to the interest paid to the members’ savings throughout the year.”
Former members of the Police Savings and Loans Society who are in the process of being migrated over to TISA will however, not be eligible for this bonus.
“Over the last 10 years, TISA has paid over K150 million in interest in terms of savings to its members,” he said.
TISA currently has over 60,000 members, this includes former members of the Police Savings and Loans Society.
Membership is expected to increase when TISA opens its membership to private sector employees in August.
TISA Group CEO, Michael Koisen, said: “The same services and products will be extended to the private sector employees and we are working on new initiatives to bring a lot more Papua New Guineans to enjoy the services that our members have been enjoying over the years.”