TISA rewards members with 7%

MORE than 63,000 members of Teachers Savings and Loan Society have been credited an interest rate of 7% into their Yumi accounts this week.
TISA rewards members with 7% TISA rewards members with 7% TISA rewards members with 7% TISA rewards members with 7% TISA rewards members with 7%

The TISA offices in Port Moresby

Staff Reporter

The savings and loan society announced the 2021 annual results this week stating that its resilience in trying times had seen it achieving a net profit after tax of K61million which is an additional K21 million from the society's 2020 net profit of K41 million, the Post-Courier newspaper reported.
 
TISA chairman Gabriel Tai announced that its members will collectively earn on their general savings account an additional bonus interest of K23 million to be paid into their Yumi account.
 
He said the bonus interest earning amount will vary by member as these are based on the total year-end balance on their individual accounts as of December 2021.
 
While highlighting TISA's 2021 financial performance Tai said that after another challenging year the TISA Group was pleased that they produced a K61 million net profit after tax and this record financial result enables TISA to keep the promise it made to its members with a 7% additional bonus interest.
 
He added that despite the Covid-19 related challenges TISA experienced in 2021, the Group's loan book grew by 4% to K321 million and members savings and deposit decreased by 7% from the previous years.
 
TISA chief executive officer Michael Koisen said paying of an additional bonus interest is one of the many ways that TISA demonstrates its appreciation to its members and therefore, TISA was proud to give an important share of its profit totalling K23million back to its members for the year 2021,
 
Koisen said that of the 63,000 members TISA has, almost 83% could now access the money through their Yumi accounts or cards.
 

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