Services
Our services follow the cooperative's bylaws: help members save, lend on reasonable terms, and invest for members' benefit.
Members save regularly with the cooperative, and NSCL keeps those savings safe. Those savings build a pool of funds that supports members' loans and the cooperative's investments.
Members save every month through a fortnightly bank standing order or a direct deduction from salary. The minimum monthly savings is set by members at the AGM. Members can also arrange additional savings, and can place term deposits with NSCL on terms approved by members.
NSCL provides loans to members and non-members on reasonable repayment terms. Applications are assessed responsibly by our credit committees.
NSCL offers loans to members, voluntary members and non-members. Early repayment never carries an extra fee.
Competitive rates on a declining balance. Contact us for current rates.
NSCL invests members' funds in legitimate businesses, directly and through its subsidiary companies, with the aim of giving satisfactory returns to members.
Members can also submit business proposals.
Loans
Fully secured by the member's own savings. Half of the interest paid goes back to the borrowing member.
Unsecured loans for emergencies and personal needs, assessed by our Credit Committee.
For business, property and other developmental purposes, including solar home system loans. Larger non-member loans may need a security deposit, which is refunded with interest.
Responsible lending
Our credit committees assess each application carefully so that loans are affordable and repayment terms are reasonable. We look at the applicant's character, their capacity to repay, their capital, any collateral, and the conditions of the loan.
We do not give personal financial advice online. To talk about your own situation, please contact us.
Through our partnerships we support purpose-specific financing:
Email us and we'll explain the options and what you need to apply.
Organisations we have worked with on solar, finance, health, training and enterprise programs.
Vanuatu Department of Energy
National Green Energy Fund (NGEF)Department of Cooperatives & Business Development ServicesAustralia Awards Vanuatu