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About Us

Brief History

Our Background

Mining & Petroleum Savings & Loan Society Ltd (formerly OTML Savings & Loan Society Ltd) is a member-owned co-operative that has been operating since 1989, serving the needs of its members and their families Papua New Guinea wide. Registered under the Savings & Loan Societies Act 2015, and Investment promotion Authority.

We offer a complete range of financial services including general loans, personal loans, savings accounts, term deposits, insurance and financial planning.
We have grown together with biggest Mining Company in PNG – Ok Tedi Mining Limited in Western Province, and has opened its doors to mining and petroleum sector employees to enjoy the competitive services and products MPSL is offering.

MPSL puts members before profits. In fact any surplus made is returned to the members by way of lower interest on loans, higher savings and term deposit rates as well as personal service and convenient access, without the excessive fees and charges.

We are dedicated to our members through the communities we serve.

Board of Directors

Ernest Babanem

Director

Heather Erwin

Director

Morris Ami

Director

Robin Rei

Independent Director

Sylvester Gaso

Chairman

Vision

An organization of viable and sustainable savings and loan society that practice cooperative governance principles and promotes socio-economic and development need for its members. The lifelong financial prosperity, security and dignity of our members in PNG Resource sector.

Mission

Mining & Petroleum Savings & Loan Society is a member owned cooperative and financial mutual. We are 100% committed to our members – employed in mining, gas and oil workers, and the Papua New Guinea communities we serve. We will always stand by our members, delivering better all-round financial value, service and care for the individual.

Proudly Mutual

Mutuality cuts to the heart of why we do business and how we do it, each and every day. It is a way of life for everyone at the Society. We are proudly mutual and endeavor each day to serve our members better.

As an independent financial mutual organization, we are owned by all our members on an equal footing with the same right to a vote at our AGM and an identical say in how the Society is run.

We do not have shareholders in the same way that POM SOX listed banks and other large financial institutions do and any surplus is reinvested into the business to improve the products and service we deliver to our members.

Our staffs personally know our members, many of whom are from loyal individuals and families whose relationship with the Society has lasted for generations.
We are proud of our history and of what our Savings & Loan Society of today have become, a modern ethical business and loan specialist that offers competitive, yet easy to understand products across Papua New Guinea resource sector.

What hasn’t changed is our commitment to traditional service of the highest quality and our desire to give back to the communities we serve.

Why MPSL?

Seven (7) great reasons why.

Our Savings & Loan Society puts members before profits. In fact any surplus made is returned to the members by way of lower interest on loans, higher savings and term deposit rates as well as personal service and convenient access, without the excessive fees and charges.
As a member of the society you become a part-owner and you get to use the society for all your savings, loans and other financial products and services.
We provide a complete range of financial services and products. These include General Loans, Personal Loans, Savings & Investment accounts, Life & Medicare Insurance. Many of these products were developed with feedback from our members and as a result, they provide exceptional value that you will not find elsewhere.
We care. We are committed to treating members like they own the place because they do! When times get tough, we understand that our members may need help. If you have a loan with our Savings & Loan Society and for whatever reason you are faced with financial hardship we can help you and your family.
Excellent service. We go the extra mile and carefully listen to your needs and will only offer products and services that we believe will assist you.
Our Savings & Loan Society is 100% Papua New Guinean owned and staffed.
We are safe and secure. We are supervised by the Bank of Papua New Guinea and affiliated with Federation of Savings & Loan Societies as well as World Council of Credit Union.