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years of saving together (since 2009)
Milestones
Our Journey
From a small staff savings group to one of Vanuatu's most successful savings & loans cooperatives – and now branching into new businesses.
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names, one family (GVRS → NSLS → NSCL)
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households reached by our solar project
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members
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subsidiaries (NICL & NFSL)
Chapter 1 · GVRS (2009–2013)
It started with colleagues who decided to save together.
2009
2009
Where it all began
Staff from Government, VNPF and the Reserve Bank form the Government – VNPF – Reserve Bank Cooperative Savings & Loans Society Limited (GVRS) in Port Vila. Members save every pay day through standing orders and support each other with fair loans.
2013
2013
Our first bylaws
GVRS adopts its first bylaws, setting out how the Society is run, how members save and how loans are approved.
Chapter 2 · NSLS (2014–2020)
A new name for a growing cooperative.
2014
2014
Hello, Navara!
The Society becomes the Navara Cooperative Savings & Loans Society Limited (NSLS).
2014–2015
11 Sep 2015
New members join the family
As NSLS took shape, a new wave of members joined in 2014–2015, bringing fresh energy and skills that helped grow the society. On 11 Sep 2015 the first Investment Policy was approved unanimously at a General Meeting (11 of 13 members present).
2017
16 May 2017
First post on Facebook
NSCL shared its first post on the Facebook page, sharing news with members and the public.
See on Facebook2017
15 Dec 2017
Members' social gathering
NSLS members came together for a social gathering.
See on Facebook2019
21 Jan 2019
Getting our books in order
At a members' meeting in Port Vila, members commissioned a full review of the Society's records from 2008 to 2018, carried out by volunteer members.
2020
8 Mar 2020
Review completed
The volunteer audit team presented its report and a new master worksheet for recording every transaction, so that financial reports can be produced on time.
2020
4 Oct 2020
Constitution-day workshop
Members held a Constitution-day workshop with financial updates.
See on Facebook2020
5 Oct 2020
Bylaws amended
Members adopted the amended NSLS Bylaws at a General Meeting in Port Vila. All members present voted in favour. The amended NSLS constitution was sealed.
See on Facebook2020
17 Nov 2020
Green energy partnership
The Executive Committee unanimously approved NSLS partnering with the National Green Energy Fund (NGEF) to finance solar systems and energy-efficient freezers for members.
2020
2020
Fund disbursement procedures
NSLS drafted Standard Operating Procedures so that all loan and dividend payments are handled in a transparent, accountable way.
Chapter 3 · NSCL (2021–today)
Save Today & Realize Tomorrow.
2021
7 Jan 2021
Dividends paid
Dividends were paid to members.
See on Facebook2021
Apr 2021
Lending beyond our members
NSLS signed an agreement with the Brown Envelope Enterprise to expand loan services to non-members and support renewable energy and small businesses in rural Vanuatu.
2021
22 Apr 2021
Loan agreement with NGEF
A loan agreement was signed with the National Green Energy Fund.
See on Facebook2021
29 Aug 2021
Becoming NSCL
Our name changes to Navara Savings & Credit Cooperative Society Limited (NSCL), Cooperative Society No. 634, in line with updated cooperative legislation.
2021
29 Aug 2021
Certificate of Registration
The Certificate of Registration as NSCL was handed to the Chairman by the Minister.
See on Facebook2021
16 Sep 2021
First Investment Policy
NSLS drafted its first Investment Policy, setting out how members' savings can be invested.
2021
Oct 2021
Powering communities
NSCL secures VT 6 million through PCREEE for a solar energy project reaching 100+ households.
2021–2023
2021–2023
Solar subsidy partnership with PCS
Solar subsidy partnership with Power Communication and Solution (PCS) for members' solar products. A PCS support letter of 28 Apr 2025 confirms the partnership and that PCS wants to partner again.
2022
24 May 2022
Solar subsidy partnership
NSCL partnered with Power Communication and Solution on a solar subsidy.
See on Facebook2022
4 Jun 2022
Annual General Meeting
Members met for the Annual General Meeting.
See on Facebook2022
4–5 Jun 2022
Policies updated
The Investment Policy and Fund Disbursement Procedures were revised in line with the 2021 amended bylaws.
2022
7 Aug 2022
Solar subsidy partnership with eTech
NSCL partnered with eTech Vanuatu on a solar subsidy.
See on Facebook2023
Apr 2023
Credit Assessment Policy and Guide adopted
The Credit Committee adopted the Credit Assessment Policy and Guide, using the "5 Cs of credit".
2023
2023 AGM
New products approved
Members approved new savings and loan products, which were later written into the 2024 bylaws.
2024
16–19 Jan 2024
Pacific SIDS Project Finance Workshop
NSCL took part in the Pacific SIDS Project Finance Workshop in Fiji.
See on Facebook2024
5 Mar 2024
Bylaws renewed and family members welcome
At a Special Meeting all members voted to adopt the 2024 Bylaws, approved by the Department of Cooperatives. They add investments and new products, and introduce voluntary membership for members' spouses and children.
2024
12–14 Mar 2024
Navara goes international
NSCL is invited by the Carbon Trust to speak at the Transforming Energy Access (TEA) Forum in Kigali, Rwanda (12–14 March 2024), supported by UK Aid.
See on Facebook2024
13 Mar 2024
Solar Home System Subsidy evaluated
SPC completed its evaluation of the Solar Home System Subsidy program.
See on Facebook2024
29 Mar 2024
Solar homes reached
Over 100 members and households benefited from the Solar Home System project.
See on Facebook2025
22 Feb 2025
AGM at Manples
Members met for the AGM at the Federation Conference Room in the Manples area, with members joining online from Santo and Australia.
2025
27 Feb 2025
A business plan for growth
The Executive Committee develops and approves the Navara Cooperative Business Plan 2025 and starts 2025 with its first EXCO business-plan session.
See on Facebook2025
6 Mar 2025
Investment Policy updated
NSCL updated its Investment Policy for member and non-member lending and investments, setting out how funds can be invested.
2025
2 Apr 2025
Investment Strategy 2025–2035 launched
The NSCL Investment Strategy 2025–2035 was launched, covering eight sectors from agriculture to renewable energy.
2025
4 Apr 2025
A General Manager on board
NSCL's first full-time General Manager starts, supporting the Executive Committee and the committees with day-to-day operations.
2025
Apr 2025
Risk management workshop
The team joined an Australia Awards project and risk-management workshop, and completed accounting-system training.
See on Facebook2025
2025
Investment and Systems Committees set up
NSCL set up the Investment Committee and the Systems Committee, each with its own terms of reference.
2025
2025
Two new companies
Navara Financial Services Limited (NFSL) and Navara Investment Company Limited (NICL) are registered with the VFSC and receive their business licences. NICL is paused for now. It will be relaunched once a few of our new businesses are up and running.
2025
10 May 2025
NFSL Credit Committee
NFSL's Credit Committee holds its inaugural meeting and adopts its credit policies.
2025
27 May 2025
Talks with Island Group
NSCL held talks with the Island Group of Companies (Fiji) on new business.
See on Facebook2025
11 Jul 2025
Three partnerships signed: MBC, HSV and VBGEA
NSCL and NFSL signed three partnerships: with Melanesian Business Consultants (MBC) for a modern web-based accounting system, setup and staff training; with Health Specialist Vanuatu (HSV) on microloans for preventative healthcare packages — Heart Health, Blood Test, Full Health Check-up and Medicine Subscription; and with the Vanuatu Backyard Gardening Empowerment Association (VBGEA) on concessional financing for backyard gardens, supporting food security and local income.
See on Facebook2025
18 Sep 2025
Cash transfer app training
NSCL joined Digicel and NGEF cash transfer app training.
See on Facebook2025
Sep 2025
Going digital
NSCL completes Xero accounting training with MBC Consulting and moves its books onto Xero.
2025
Oct 2025
Lending beyond our members
Through its non-member lending scheme, NSCL facilitates 13 non-member loans worth VT 3,650,000 in six months.
2025
27 Nov 2025
Green Climate Fund engagement
NSCL joined stakeholder engagement on a Green Climate Fund proposal.
See on Facebook2026
27 Apr 2026
A new uniform and a new seal
The new uniform was launched at the AGM – a bigger Navara with big leaves and deeper roots – and the logo was adopted as the NSCL seal. Shared on Facebook, July 2026. NICL paused while new businesses get established — relaunch to come.
See on Facebook2026
27 Apr 2026
2025 accounts presented
The 2025 financial statements are completed and presented to members at the AGM, and dividends are approved.
2026
Sep 2026
NFSL Loan Policy
The NFSL Loan Policy sets clear, fair terms for non-member loans: up to VT 300,000 over 12 months.
2026
2026
16 members strong
16 committed members, a new website, and a clear plan for the next chapter.
What's next 🚀
Growing beyond savings: getting NFSL and NICL fully operating, a stronger accounting and information system, and new member-owned businesses such as transport and property. NICL is paused for now. It will be relaunched once a few of our new businesses are up and running. Interested in partnering with us? Contact us.
Partner With UsWe are not yet accepting new members.
