Born from humble beginnings as the Teachers Savings and Loan Society Limited (TISA) — a trusted financial cooperative established in 1972 to serve Papua New Guinea’s educators — TISA Bank today stands as the country’s first fully homegrown commercial bank. More than five decades in the making, this institution has evolved from a financial lifeline for teachers into a dynamic banking powerhouse set on transforming the financial landscape for all Papua New Guineans under the visionary leadership of Group CEO Michael Koisen OBE ML.
A Legacy Rooted in Community and Trust
The story of TISA is the story of Papua New Guinea’s financial inclusion journey writ large. Established with roughly 3,000 teacher members and an annual cash turnover of K2 million, TISA grew steadily, reaching over 62,000 members and amassing assets exceeding K900 million by 2024. It expanded its membership beyond educators to public and private sector workers nationwide, becoming the largest Savings and Loans Society in PNG and the biggest credit union in the Pacific.
For decades, TISA provided an essential avenue for savings and affordable loans tailored to its members’ needs. Its cooperative philosophy reflected a commitment to community service and mutual support — principles that remain the bedrock of the bank’s identity.
Michael Koisen: The Trusted Leader at the Helm
At the helm of TISA Bank’s transformative chapter is Michael Koisen, a seasoned finance professional with more than 23 years of experience. Recognized as the Most Trusted Financial Services CEO in the 2024 APAC CEO of the Year Awards, Koisen embodies the values of trust, integrity, and inclusiveness.
Guiding TISA through statutory managers’ oversight and complex regulatory challenges, he successfully steered the institution to obtain its banking license from the Bank of Papua New Guinea in August 2024. His vision is clear: to elevate TISA from a cooperative savings society to a full-fledged commercial bank that serves PNG’s diverse population, fostering economic empowerment from urban centers to remote communities.
Koisen’s leadership style blends decisiveness with empathy. In interviews, he emphasizes the importance of “not just delivering banking services but making a meaningful social and economic impact.” Under his watch, TISA is expanding its product suite, strengthening governance, and investing in technology to drive efficiency and accessibility.
The Milestone: Banking License and Commercial Launch
Acquiring the banking license was a watershed moment for TISA. Officially commencing commercial banking operations on October 21, 2024, TISA Bank joined an elite group of licensed banks in PNG amid a rigorous licensing environment. The process demanded adherence to robust compliance standards, anti-money laundering frameworks, capital adequacy requirements, and risk management protocols.
Being one of only three new banks licensed in 2024, TISA Bank’s entry signals the government and regulator’s confidence in locally owned institutions’ capacity to contribute to national development and financial sector diversification.
Technological Transformation: Oracle & Profinch Core Banking
A critical enabler of TISA Bank’s commercial success is its state-of-the-art core banking system, powered by Oracle and implemented in partnership with Profinch Technology Group. This comprehensive digital infrastructure supports internet banking, mobile platforms, and USSD services, facilitating seamless transactions for all customer segments.
Launched flawlessly after a 14-month migration project, the system modernizes operations with automation, real-time processing, and enhanced security. TISA has also developed a digital hub in Waigani, which acts as a regional technology and customer service center, reinforcing its commitment to innovation.
This technological foundation is crucial to reaching PNG’s large unbanked population, especially in rural and remote areas where physical branches are scarce.
Commitment Beyond Banking: Social Responsibility
TISA Bank’s ethos is summed up in its motto: “Not for Profit, Not for Charity, But for Service.” This means financial products and services are designed first and foremost to serve people’s needs rather than merely generate shareholder profits.
The bank is actively engaged in social impact initiatives, including education sponsorships for disadvantaged children and community development partnerships. For example, TISA contributed K30,000 to Life PNG Care Inc, underscoring the ongoing commitment to helping PNG’s youth.
Membership in the Global Alliance for Banking on Values further underscores TISA’s dedication to banking ethics, encompassing principles of sustainability, community empowerment, and equitable growth.
Expanding Reach: Branch Network and Agency Banking
Starting with three branches in Port Moresby, Lae, and Mt. Hagen, TISA Bank has embarked on an ambitious expansion drive. By 2026, the bank aims to operate 20 branches across Papua New Guinea, including emerging hubs like Wabag, Kerema, Daru, Arawa, and Wewak.
Recognizing the geographic and infrastructural challenges of PNG, TISA is also pioneering agency banking models where trusted local partners provide basic financial services under the bank’s oversight. This strategy increases access without burdensome capital-intensive branch rollouts, especially vital for rural populations.
Each branch and agency is tasked with tailoring services to local community needs, from microloans for smallholder farmers to SME banking products supporting local businesses.
Supporting Business: SMEs and Corporate Banking
TISA Bank’s product offerings are comprehensive, with special emphasis on low-cost, flexible loan products and savings accounts suited to everyday individuals and small businesses. The bank is also building capabilities for corporate banking services including trade finance, foreign exchange, and correspondent bank relationships to facilitate PNG’s growing commercial sector.
Strategic partnerships in natural resource sectors, highlighted by TISA’s role as principal sponsor for the 2025 PNG Resources Summit, position it to support PNG’s industrial and economic diversification.
Future Vision: Pacific Expansion and Economic Impact
The bank’s ambitions extend well beyond national borders. TISA aims to expand into Pacific island nations, leveraging its model of ethical, community-centric banking to offer alternatives to foreign-owned banks in the region.
Michael Koisen sees TISA Bank as a catalyst for PNG’s economic transformation: boosting financial literacy, promoting savings culture, facilitating entrepreneurship, and supporting government initiatives geared toward inclusive development.
Digital technologies will remain a cornerstone of this vision, enabling innovative product development and service delivery even in challenging markets.
Stories From the Ground: Customers and Staff
Real voices underpin TISA’s impact. Take a small-business owner in Mt. Hagen who accessed a growth loan after years of being excluded by traditional lenders, or a Lae-based teacher who now saves reliably through TISA’s digitized platforms. Employees praise the bank’s culture of service and purpose, while stakeholders commend Koisen’s transformational leadership.
