PNG Power Staff Savings & Loan Society

PNG Power Staff Savings & Loan Society To deliver improved financial services to our members through maximized savings returns.

Merry Christmas and a Prosperous 2026!
10/12/2025

Merry Christmas and a Prosperous 2026!

OFFICE CLOSURE FOR INDEPENDENCE CELEBRATIONSOur office will be closed from 15-17 September 2025 for the 50th Independenc...
11/09/2025

OFFICE CLOSURE FOR INDEPENDENCE CELEBRATIONS

Our office will be closed from 15-17 September 2025 for the 50th Independence Celebrations.

PPSSLS DECLARES 13.25% INTEREST RETURN, TOPS ITS PEERS AGAINIn a financial world where stability is rare and returns are...
16/06/2025

PPSSLS DECLARES 13.25% INTEREST RETURN, TOPS ITS PEERS AGAIN

In a financial world where stability is rare and returns are often modest, one institution continues to defy the odds. The PNG Power Staff Savings & Loan Society (PPSSLS) has again proven why it is the most trusted name in the savings and loan sector in Papua New Guinea. During its Annual General Meeting (AGM) held on Saturday, 31 May 2025, at the Holiday Inn in Port Moresby, PPSSLS proudly announced an additional 8% interest credit to all active ShareSaver (S1) accounts for the 2024 financial year.

This announcement marks yet another milestone in the Society’s journey, pushing the total 2024 interest return to an exceptional 13.25% - made up of a 5.25% regular base interest and the newly declared 8% additional interest. This result also pushes PPSSLS’ 5-year interest average to 13.85%, positioning PPSSLS as the benchmark in the industry for member returns.

For those unfamiliar with the landscape, these figures are not just numbers - they represent a long-standing commitment to financial empowerment. In 2022, PPSSLS made headlines with a record-breaking 10% additional interest, and in 2023, despite economic headwinds, it upheld its standing by crediting members with another 8%. This string of high-yield declarations reflects a deliberate and disciplined strategy, one that puts members first.

What makes this story even more compelling is the clear vision driving the Society’s leadership. Board Chairman Mr. Andrew Kavanamur, in his remarks, highlighted that: “Despite 2024 transitional costs and broader economic pressures, we remained focused on our mission: to deliver maximized returns to our members,” he said. His optimism was evident as he noted a surge in new membership from both public and private sector employees, setting the stage for an even stronger performance in 2025.

The Society’s mainstay Mr Eliakim Tobolton (PPSSLS Manager) credited his small yet dynamic team for delivering a positive set of results yet again in 2024. Their tireless effort and quick adaptation ensured operations transitioned smoothly to the new office precinct. Mr Tobolton reiterated the move as strategic, positioning the Society on the open market to optimise operation, enable increased membership and unlock improved product and service offerings for members going forward.

These accomplishments are not accidental. PPSSLS has strategically expanded its membership base, rolled out innovative financial products like the ‘Bungim Olgeta Dinau’ refinancing loan and upgraded its systems and operations to improve efficiency. The result is a Society that not only rewards its members with the highest interest rates in PNG, but also provides them with the right tools that promote long-term financial wellbeing.

For Papua New Guineans looking for a secure and high-performing place to grow their wealth, PPSSLS is the place for you. PPSSLS is more than just a savings institution - it is a movement of financial empowerment. It is a Society built on trust, discipline, and vision for growth and security. And as the numbers continue to rise, so does the confidence of its members, who see not just a savings account, but a partner in their financial future.

The question isn’t whether PPSSLS will continue to lead, the question is: will you be part of its journey?

To join or learn more, visit www.ppssls.com.pg—where your savings doesn’t just grow, it thrives.

N O T I C E : 2025 ANNUAL GENERAL MEETING (AGM)Date: Saturday, 31 May 2025Venue: Holiday Inn, Port MoresbyTime: 10amInf...
25/05/2025

N O T I C E : 2025 ANNUAL GENERAL MEETING (AGM)

Date: Saturday, 31 May 2025
Venue: Holiday Inn, Port Moresby
Time: 10am

Info: [email protected]
Web: www.ppssls.com.pg

Our Bungim Olgeta Dinau (Refinance) Loan is designed to consolidate all your debts into one easy repayment and improve y...
12/03/2025

Our Bungim Olgeta Dinau (Refinance) Loan is designed to consolidate all your debts into one easy repayment and improve your Take-Home pay.
💡 Set yourself free from loan sharks—Refinance today and enjoy your fortnight pay!

📞 3230581 / 3230591
📧 [email protected]
🌐 www.ppssls.com.pg

Advancing Financial Leadership: PNG Credit Union BootcampOur commitment to growth & sustainability took a significant st...
02/12/2024

Advancing Financial Leadership: PNG Credit Union Bootcamp

Our commitment to growth & sustainability took a significant step forward at the recent PNG Credit Union Leadership Bootcamp, facilitated by the Association of Asian Confederation of Credit Unions (ACCU) from 22-24 October 2024. Representing PPSSLS were our Manager, Mr. Eliakim Tobolton, and Accountant, Ms. Maria Lulun.

The theme, "Rev Up Momentum to Bridge the Gap in an Integrated Credit Union Network", provided a valuable platform for knowledge-sharing and strategic planning. The boot camp reinforced our vision to deliver long-term value to our members by embracing innovation and collaboration within the credit union sector.

As we implement the strategies refined during this event, PPSSLS is poised to build a stronger, more resilient future for all our members.

&Loans

Preparing for Retirement?As retirement draws near, the PPSSLS is here to secure your nest egg. With our ShareSaver Accou...
01/11/2024

Preparing for Retirement?

As retirement draws near, the PPSSLS is here to secure your nest egg. With our ShareSaver Account, enjoy a flexible, rewarding retirement savings option that keeps working for you long after your final working day.

Here’s why PPSSLS is your ideal retirement savings partner:

1. Grow Your Savings - Continue earning attractive interest rates, boosting your savings even during retirement.

2. Easy Access - Access your funds whenever you need – no hassles, just peace of mind.

3. Tax Advantages - Enjoy minimal tax obligations on your retirement savings, letting you keep more of what you earn.

4. Reliable Growth - Our commitment to stable financial growth ensures your savings continue to expand, taking care for your family.

Join the many members who trust PPSSLS to support their retirement goals with reliability and flexibility. The ShareSaver Account is more than just savings – it’s your path to a rewarding, stress-free retirement.

Ready to take the next step?
Contact us at [email protected] to explore more.

PPSSLS is Not a Subsidiary of PNG Power LtdThere is a common misconception that the PNG Power Staff Savings & Loans Soci...
29/10/2024

PPSSLS is Not a Subsidiary of PNG Power Ltd

There is a common misconception that the PNG Power Staff Savings & Loans Society (PPSSLS) is a subsidiary of PNG Power Ltd (PPL). While this is understandable given the name and historical origin, we would like to take this opportunity to clarify that PPSSLS is a completely independent licensed financial institution.

Access to the Society is no longer limited to PNG Power staff; it now welcomes members from both the public and private sectors. PPSSLS is a separate entity helping all Papua New Guineans achieve financial stability and growth.

Brief History

PPSSLS was established in 1988 by Electricity Commission (ELCOM) employees. At the time, it served as a staff savings and loan society designed exclusively for ELCOM employees, offering them affordable financial services and benefits. When ELCOM transitioned into PNG Power Ltd in 2010, the Society also adopted the name PNG Power Staff Savings & Loans Society, which led to the misconception that it is a subsidiary of PPL.

However, despite the name, PPSSLS has always remained an independent entity. Over the years, PPSSLS has grown into a robust financial institution, expanding its services beyond PPL staff. Today, PPSSLS is open to all - whether they are public servants, private sector employees, or small business owners. This transition reflects the Society’s mission to be inclusive and financially empower the wider community.

Regulated by BPNG

PPSSLS operates with its separate board of directors, is licensed by the Bank of Papua New Guinea (BPNG) under the Savings and Loan Societies Act 2015, and is registered with the Investment Promotion Authority (IPA). This distinguishes PPSSLS as a licensed Authorized Depository Institution (ADI) in Papua New Guinea. Compliance with a strict regulatory framework set by BPNG ensures that PPSSLS operates both independently and efficiently, ensuring the safety and sound management of member funds. Members can rest assured that their funds are secure and managed prudently in line with regulatory standards.

Growth Strategy

PPSSLS has embraced a forward-looking growth strategy aimed at expanding its reach and delivering value to a broader community by opening its doors to all Papua New Guineans. The Society is no longer limited to PNG Power staff but is now accessible to public servants and private sector employees. As part of its ongoing development, PPSSLS continues to enhance its product offerings, including high-interest savings accounts and flexible loan products, ensuring that its services meet the diverse needs of its growing membership. Several new and progressive changes are coming and designed to position PPSSLS as a leading financial partner for all Papua New Guineans, delivering sustainable growth and financial stability into the future.

Rebranding Coming Soon!

As part of its ongoing efforts to serve every sector, PPSSLS is preparing to rebrand. This rebranding will reflect the Society’s transformation from a financial service provider for PNG Power staff, to an inclusive financial institution for everyone. The new brand will emphasize the Society’s independence and its commitment to providing premier financial products and services in the country.

While the name may change, the trusted services and benefits that PPSSLS offers will continue to improve for its members. Don’t let the upcoming rebrand discourage you from joining—this change is designed to clarify our position as a fully independent institution and encourage more people to benefit from the high-interest savings and affordable loan products we offer.

Refinancing for a Better Take-Home Pay

One of the standout products offered by PPSSLS is its Bungim Olgeta Dinau (Refinancing) Loan product. This possibility allows both new and existing members to consolidate their loans, reducing the burden of multiple deductions and ensuring their take-home pay remains sufficient for family needs.

Refinancing through PPSSLS allows members to restructure their loans into a more manageable payment plan, allowing for greater financial stability and peace of mind. More than 100 new and old members have already received help from this loan product, and the society continues to support its members with tailored solutions that make financial management easier.

Become a Part of PPSSLS Today

Don’t let misconceptions hold you back from joining a trusted and independent Savings & Loan Society. With some of the highest interest rates in the country and loan products designed to ease financial stress, PPSSLS is ready to support you.

Visit our website (www.ppssls.com.pg/about/) to learn more or contact our team at [email protected]. It’s time to join a financial institution built for everyone in PNG.

NEW EFTPOS DEVICE FOR MEMBER CONVENIENCEWe are excited to announce that BSP has presented an EFTPOS machine to PPSSLS, a...
06/09/2024

NEW EFTPOS DEVICE FOR MEMBER CONVENIENCE

We are excited to announce that BSP has presented an EFTPOS machine to PPSSLS, a vital step in our journey towards digital transformation. This machine makes it easier than ever for our members to transfer funds directly into their savings accounts, allowing for fast and secure transactions.

Additionally, members can now easily make loan repayments, check balances, and access other essential services with ease. As we continue to embrace digital solutions, we remain committed to enhancing the financial well-being of our members and offering modern, convenient financial services.

A big thank you to BSP for their continued support and partnership in helping us deliver these valuable services to our members.

📧 Email: [email protected]
📞 Phone: 3230581 / 3230591
🌐 Visit: www.ppssls.com.pg

ICAC STAFF IMPRESSED WITH 'SAVINGS CULTURE' The PPSSLS team recently visited the Independent Commission Against Corrupti...
06/09/2024

ICAC STAFF IMPRESSED WITH 'SAVINGS CULTURE'

The PPSSLS team recently visited the Independent Commission Against Corruption (ICAC) on August 8, 2024, to present its diverse range of savings, loan, and Medicare products. The presentation allowed ICAC employees to gain insights into how they can benefit from PPSSLS’s financial solutions tailored for growth and security.

With products like ShareSaver Accounts and personalized loan options, PPSSLS continues to extend its services to organizations, offering valuable financial management tools for members. For more details, visit www.ppssls.com.pg or reach out to us directly.

Ph: 3230581 / 3230591
Email: [email protected]

Address

Times Square Building, Level 1, Unit 1C, Gordons, Port Moresby National Capital District
Port Moresby
111

Opening Hours

Monday 08:00 - 16:30
Tuesday 08:00 - 16:30
Wednesday 08:00 - 16:30
Thursday 08:00 - 16:30
Friday 08:00 - 16:30

Telephone

+6753230581

Website

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