Who we are
Teachers Mutual Bank Limited is one of Australia’s largest mutual banks, with more than 220,000 members, over $11.1 billion in assets, and around 600 employees. We are a positive alternative to the major banks, helping Australians working in education, higher education, emergency services and healthcare professions achieve homeownership and reach their financial goals.
Our four retail brands – Teachers Mutual Bank, UniBank, Firefighters Mutual Bank and Health Professionals Bank – are part of Teachers Mutual Bank Limited, a mutual bank 100% owned by our members. This means instead of our profits being distributed to shareholders and investors through dividends, our profits are reinvested to benefit our members and their communities. We proudly help the people who help our communities thrive.
With a focus on people, planet and profit, we have a commitment to socially responsible banking certified by third party assessments – with the aim of delivering strong outcomes for our members.
Our brands
Our journey
More than 60 years ago, our bank was founded when a group of teachers volunteered their time to build a positive alternative to the major banks. Their innovation, tenacity and belief in a better way of banking opened doors to home ownership and helped teachers achieve their financial goals. Six decades later, while our membership is broader, our commitment to member-owned banking, competitive rates and great service remains as strong as ever.
1966
Hornsby Teachers Credit Union is established by volunteers.
1967
With 29 members and $644 in assets, we change our name to NSW Teachers Credit Union.
1976
We celebrate a decade of operations and open our office in Homebush, the demographic centre of Sydney at the time.
1984
We welcome our 50,000th member and open a branch in Rooty Hill with Australia's first drivethrough bank teller service.
1991
With $1 billion+ in loans to members, over 65,000 members, and more than $307 million in assets, we are Australia's largest credit union.
1992
We extend membership to include members' grandparents and grandchildren.
2000
Our newly launched website provides 24/7 banking services for our 98,452 members.
2006
We publish our first sustainability report and commit to reducing energy and water consumption and contribute 3% of after-tax profit to social responsibility.
2008
We merge with TAFE and Community Credit Union and open an office in Perth.
2009
Reflecting our national presence, our members vote to remove 'NSW' from the bank's name.
2012
With member and regulatory approval, we change our retail name to Teachers Mutual Bank operated by Teachers Mutual Bank Limited.
2014
We’re named one of the World's Most Ethical Companies by the Ethisphere Institute. We retain this accolade for a decade.
2015
We initiate a decade-long partnership with the Credit Union Foundation of Australia to help alleviate poverty and create sustainable change across the Asia Pacific region.
2015
We merge with UniCredit and add a new brand, Unibank, to our suite of retail bank brands.
2016
We merge with Fire Brigades Employees Credit Union and create a new brand, Firefighters Mutual Bank, expanding our membership base.
2019
Health Professionals Bank is established. Its mission is to provide a better way of banking for Australia’s health professionals.
2021
We merge with Firefighters Credit Co-operative and Pulse Credit Union.
2022
We achieve B Corp Certification for the first time.
2023
As a formal step towards reconciliation, we embark on our first Reconciliation Action Plan (RAP).
2024
Teachers Mutual Bank tops Roy Morgan's customer satisfaction rankings.
2025
Teachers Mutual Bank is named Customer-Owned Institution of the Year at the Money Magazine Consumer Finance Awards.
We open our new head office in the heart of Sydney's CBD. We re-certify as a B Corp.
Governance and leadership
Our Board and Executive Team are committed to strong, transparent governance that protects members’ interests.
Teachers Mutual Bank Limited is an authorised deposit-taking institution regulated under the Banking Act 1959 (Cth) by the Australian Prudential Regulatory Authority (APRA) and by government agencies such as Australian Securities and Investment Commission (ASIC), and Australian Transaction Reports and Analysis Centre (AUSTRAC). We comply with all relevant legislation and codes of conduct.
Putting members first. That’s customer-owned banking.
More than 4.5 million Australians bank with mutual banks, credit unions and building societies; organisations that reinvest profits into better banking for their customers and their communities. We are a member of Customer Owned Banking Association (COBA), the leading advocate for a more competitive retail banking sector through customer-owned banking.
The Customer Owned Banking Code of Practice underpins the commitments and promises we make to our members.
Do work that makes a difference
Purpose-led work. People-first culture. You’ll be part of a team that values fairness and collaboration, and takes pride in doing work that genuinely makes a difference.