A New Era for Financial Inclusion
The PNG Power Staff Savings & Loan Society (PPSSLS), a cornerstone in financial services for PNG Power Ltd employees since 1988, is now breaking new ground. In a landmark decision, PPSSLS is extending its membership to encompass individuals from both the public and private sectors. This move marks a significant shift from its original policy, which was exclusively for PNG Power Ltd staff.
Eligibility Criteria
The eligibility has been broadened to include anyone consistently receiving payroll from their employer. This inclusive approach aims to bridge the gaps in the savings and loan industry, offering benefits previously unattainable to many.
Savings Products
PPSSLS offers an array of savings products designed to meet diverse financial goals:
- ShareSaver (S1): A foundational savings account.
- Christmas Savings (S2): For holiday season planning.
- General Savings (S3): Versatile savings for various needs. Withdrawal anytime.
- Housing Savings (S4): Dedicated to housing-related expenses including housing advance.
- Education Savings (S5): For yours or your children’s educational aspirations.
- Child Club (S6): A savings platform for children’s future.
Loan Product
Members have access to a variety of loan products:
- Savings Secure Loan: Loans secured against savings.
- Unsecured Loan: Flexibility without the need for collateral.
- Motor Vehicle Loan: For those looking to purchase vehicles (upcoming product).
Medicare/Insurance
PPSSLS also provides a Medicare/Insurance scheme covering medical, life, and personal accident needs. This optional but highly recommended program offers a safety net, ensuring peace of mind for members and their families.
Embracing a Broader Community
This expansion is a strategic move by PPSSLS to fill the void left by other savings and loan companies. By opening its doors to a wider audience, PPSSLS is not only providing alternatives but also enhancing financial inclusion across various sectors. It’s a step towards democratizing financial services, ensuring more people have access to quality savings and loan products.
Connect with PPSSLS
To learn more about membership, savings products, loan options, and insurance schemes, interested individuals can contact PPSSLS:
Phone: (+675) 3112458 / 3112459
Email: enquiries@ppssls.com.pg / info@ppssls.com.pg
PPSSLS’s initiative to open membership to a broader public is more than just an expansion of services; it’s a commitment to financial empowerment and inclusion. By providing a comprehensive range of financial products and services, PPSSLS is poised to become a key player in the financial well-being of a diverse community.
For detailed information on the products and membership, visit www.ppssls.com.pg.