This article is adapted from an original story published by Exepreneur, highlighting the transformation of TISA Bank from a teachers’ savings society into Papua New Guinea’s first fully homegrown commercial bank. It explores the bank’s mission, leadership, digital innovation, and its growing role in promoting inclusive finance and community-focused development across the country.
TISA Bank has come a long way from its modest beginnings. Originally founded in 1972 as the Teachers Savings and Loan Society (TISA), this institution was created to serve Papua New Guinean (PNG) educators. Fifty years later, it has evolved into the country’s first fully homegrown commercial bank, marking a new chapter in PNG’s financial landscape.
A Mission built on trust and community
TISA’s roots lie in cooperation and mutual support. What started as a tight-knit savings group of around 3,000 teachers has expanded into a much broader financial institution. By 2024, TISA had grown to more than 62,000 members, with assets exceeding about USD 213 million (K900 million). Over time, its membership extended beyond educators to include workers from both the private and public sectors, making it one of the largest credit unions in the Pacific.
Leadership with purpose: Michael Koisen
Leading TISA Bank through this transformation is Michael Koisen, a seasoned finance leader with more than two decades of experience. Under his guidance, TISA navigated regulatory requirements and obtained a commercial banking license from the Bank of Papua New Guinea in August 2024.
Koisen is widely respected and was recognised as the Most Trusted Financial Services CEO in the 2024 APAC CEO of the Year Awards. His leadership philosophy centres on empathy and impact. He often speaks about banking not just as a business, but as a tool to improve people’s lives.
From society to bank: A major step forward
TISA officially launched its commercial banking operations on October 21, 2024, after completing a rigorous licensing process. This positioned the institution among the few new banks licensed in PNG in recent years and highlighted the regulator’s confidence in mission-driven, locally owned banking.
Digital innovation at the core
A key part of TISA Bank’s strategy is its strong investment in modern technology. The bank’s core systems are powered by Oracle and implemented in partnership with Profinch Technology Group. This enables online banking, mobile banking, and USSD services for customers across the country.
The transition to the new system followed a 14-month migration period and resulted in real-time transaction processing, improved automation, and enhanced security. TISA also established a technology hub in Waigani, which supports customer service and ongoing innovation.
Purpose-led banking
TISA Bank is driven by its guiding principle: “Not for Profit, Not for Charity, But for Service.” This philosophy shapes its approach to both business and community engagement.
The bank supports social initiatives such as funding education for disadvantaged children and collaborating with community groups like Life PNG Care Inc. Its membership in the Global Alliance for Banking on Values, also reflects its commitment to ethical and sustainable banking practices.
Expanding access through branches and agencies
TISA Bank began operations with three branches in Port Moresby, Lae, and Mt. Hagen, with plans to expand significantly. By 2026, the bank aims to open 20 branches across locations including Wewak, Daru, and Arawa.
To reach rural and remote communities, TISA is developing an agency banking model. Under this system, trusted local partners deliver basic banking services under TISA’s supervision. These agents will provide tailored products such as microloans for farmers and savings accounts for small business owners.
Supporting SMEs and economic growth
TISA Bank offers a diverse range of financial products that serve both individuals and businesses. These include savings accounts, affordable personal loans, and SME financing. For larger enterprises, the bank provides services such as trade finance and foreign exchange solutions.
Its participation as a sponsor in events like the PNG Resources Summit further demonstrates its ambition to contribute to national economic development and business growth.
A vision for the future
Looking ahead, TISA Bank plans to extend its presence beyond PNG and into the wider Pacific region. The institution aims to position itself as a strong ethical banking alternative to foreign-owned banks.
Koisen’s long-term vision includes strengthening financial literacy, encouraging entrepreneurship, and promoting inclusive economic development. Digital tools will continue to play a central role in reaching underserved communities and enhancing service delivery.
Real impact on communities
TISA Bank’s influence is already visible through real-life outcomes. A small business owner in Mt. Hagen was able to secure a loan and grow their enterprise after being declined by traditional banks. A teacher in Lae now manages savings more efficiently through TISA’s digital banking services. Staff members consistently describe a workplace culture focused on service, empowerment, and social impact.
Source: This article is adapted and rewritten from an original publication by Exepreneur titled “TISA Bank: A New Era of Banking with a Heart for Papua New Guinea.”
Originally published on 27 October 2025.
