Teachers Mutual Bank is dedicated to helping Australian education sector employees and their families secure their financial futures. In 1966 a group of passionate teachers with a shared vision of giving those alongside them better financial
options came together to form a credit union. 50 years on, that passion is stronger than ever. We’re still supporting teachers, their families, and the education community with superior banking products and member service. We’re more than just a bank, we’re a market leader in member advocacy in the Australian banking sector, and committed to strong standards of corporate responsibility through community investment and
ethical business. Teachers Mutual Bank is one division of Teachers Mutual Bank Limited, alongside Health Professionals Bank, Firefighters Mutual Bank, UniBank, and Hiver Bank. Collectively, Teachers Mutual Bank Limited has more than 220,000 members and over $9 billion in assets. Back in 1966 Teachers Credit Union was established by teachers, for teachers. Since our humble
beginnings, we've grown from 29 members and $644 in deposits, to over 200,000 members and more than $7 billion in assets. Not bad when you think that our very first meetings were held in a tennis shed! Key staff
Working at Teachers Mutual BankI love working at Teachers Mutual Bank. They genuinely care about all of their staff. Careers CommunityWe believe it is teachers who make communities stronger and futures brighter. Sustainability isn’t just part of our business, it’s how we do business. We believe sustainability should influence every aspect of our planning, programming and implementation. We are committed to creating a better world for our members, the teaching community, the planet and the people on it. Learn moreOur valuesOur valuesWe started our journey with a foundation based on partnership, education, strength, commitment, integrity and sustainability. Over time, our journey has seen us through changes in the banking industry and we’ve responded by becoming braver, bolder and more competitive – but our core beliefs have never wavered. Instead, those beliefs have taken a new shape, a set of concrete values. Three words embracing what we have always stood for and what we truly believe. Advocacy. Passion. Sustainability. AdvocacyWe aim to be everything you want in a bank, every time. We will be there for you at every step of your financial journey, helping you make the most of every dollar you earn and supporting you to reach your financial goals sooner. We are proud to offer products and services that have been carefully designed to be relevant for teachers. Because in the end, we know that if we do things right by you, you’ll probably let others know. PassionWe are passionate about being the best of the best – and putting you first in everything we do. You can sense that passion when you talk to us, no matter whether it’s face-to-face or over the phone. We’re a team of extremely committed people eager to deliver exceptional service and products for teachers, their families and employees in the education sector. SustainabilityWe are 100% committed to doing what’s right – that extends from how we run our business and how we relate to our members to how we treat the environment. Whether it’s employing skilled, ethical staff, delivering product innovations or through initiatives to help the community, schools and environment, we’re absolutely focused on providing a better future for our members and the wider community. Our storyWe've been passionate about teachers and their families since 1966Back in 1966 Teachers Credit Union was established by teachers, for teachers. Our success was born out of a dream and a vision to give teachers and their families better financial options. Read our storyCelebrating our 50th anniversaryMember newsView more newsRead other member news articles and competition winners
GovernanceTeachers Mutual Bank Limited's Board and Executive Management are committed to a high standard of corporate governance. Teachers Mutual Bank Limited is an Authorised Deposit Taking Institution (ADI)* regulated under the:
We comply with all relevant legislation and codes of conduct. Read our Constitution Read our Whistleblower Policy Our peopleMeet our Board of Directors, Management, and Members Committee.
Nominating for a Board of Directors positionIf you have considered playing a leadership role at Teachers Mutual Bank by serving on the board as an elected Director, there are a number of important steps to take into consideration, one of which is requesting a Nominations Pack. Learn moreNominating for a Members Committee positionThe structure and composition of our members committee is outlined in the Teachers Mutual Bank constitution. Learn moreAudit CommitteeThe Audit Committee plays a key role in assisting the Board to fulfil its corporate governance and oversight responsibilities, particularly in relation to financial reporting, internal audit and external audit. Read the Audit Committee CharterRisk and Compliance CommitteeThe Committee provides assistance to the Board in fulfilling its responsibilities in terms of corporate governance practices, risk management and the quality and integrity of reporting Read the Risk and Compliance Committee Charter*Teachers Mutual Bank Limited ABN 30 087 650 459 AFSL/Australian Credit Licence 238981 CareersCareersAt Teachers Mutual Bank we’re all members of the same team. Whether it’s your first job, you’re returning to work or you’re at the peak of your professional career; it’s about making a difference to our members’ lives, the teaching community and the environment. Our culture is clearly defined by education. Our employees are encouraged and supported to further their education, develop a career path and maintain a healthy work/life balance. Our members, community and employees embrace the mutual bank core values of passion, advocacy and sustainability. “We are passionate about supporting our employees to reach their full potential because we know they are the key to our success. We aim to reflect diversity within our organisation by creating an inclusive environment founded on workplace equity. We value the diversity of experience and perspectives among our employees as a source of great strength and we have an ongoing commitment to pay equity and gender equality at all levels of TMBL” – Steve James, CEO If this sounds like you, then we’d love to hear from you. Want to work for us?Learn more about working at Teachers Mutual Bank
Customer owned bankingCustomer Owned BankingOver 4.5 million Australians are customers of mutual banks, credit unions and building societies. We have worked closely with Customer Owned Banking Association (COBA), to develop the Customer Owned Banking Code of Practice. What is the Customer Owned Banking Code of Practice?The Code is an important public statement of the value we place on improving the financial wellbeing of our customers and the education community. It reinforces our commitment to:
How does it affect you?The Customer Owned Banking Code of Practice is how we deliver on our guarantee to serve our customers first. Our 7 key promises to you outline how we do this. Our 7 key promises to you
Find out moreYou can download the complete Customer Owned Banking Code of Practice or you can request a copy to be mailed to you. DownloadRequest a copyReports and disclosuresReports and regulatory disclosuresTeachers Mutual Bank is a division of Teachers Mutual Bank Limited. Visit www.tmbl.com.au for detailed financial and sustainability related information, as well as regulatory disclosures.
What are the benefits of a mutual bank?There are several advantages of mutual savings banks include friendly customer service, a long-term approach, financial stability, depositor safety, increased accessibility, and the fact that profits (in some form or another) are reinvested in the community.
What is the difference between a bank and a mutual bank?Traditional banks are often listed on the share market and are owned by shareholders. These shareholders may not be customers of the bank. Bank profits may be paid to shareholders through dividends. In contrast, mutual banks are owned by their customers.
What do mutual savings banks offer?MSBs offer many of the same products you'd find at a regular bank, including checking accounts, savings accounts, CDs, home loans, credit cards, commercial banking services, and more. Like credit unions, mutual saving banks are community-based institutions.
Why are banks called mutual?The basic idea behind mutual banks is they are not controlled by stockholders or other direct owners. Rather, their customers – the depositors that bank with them – are considered mutual owners.
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What is the purpose of a mutual bank?
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