The Board of Teachers Mutual Bank Limited believes merging with Australian Mutual Bank is in the best interests of members and recommends members vote in favour of the Resolution.
Creating an even stronger bank
Teachers Mutual Bank, Health Professionals Bank, Firefighters Mutual Bank and UniBank are brands operated by Teachers Mutual Bank Limited. From Monday 9 February 2026, we’ll ask our members to help us create an even stronger, 100% member-owned bank by voting yes on our proposed merger with Australian Mutual Bank.
To keep you informed, this page will be updated with the latest information.
By merging with Australian Mutual Bank, we will create an even stronger and more resilient bank with increased capacity to invest in what our members value: customer service, competitive financial products, and digital banking services - including fraud and scams prevention technology.
As a merged bank, we’ll remain committed to supporting the professions and communities that support us, through sponsorships, scholarships and other community partnerships.
Together, we’ll be an even stronger, more resilient, 100% member-owned bank.
Member information sessions
We'll be hosting information sessions both in person and online where members will have the opportunity to hear from our team and ask questions about the proposed merger.
Watch the video below to hear directly from the Chair and Deputy Chair on why our Board of Directors is unanimously recommending our members join them in supporting the proposed merger with Australian Mutual Bank.
About Australian Mutual Bank
Australian Mutual Bank is a 100% member owned bank. It shares a similar heritage, values, and focus on putting members first. With approximately 60,000 members, total assets of $1.92 billion, and 150 employees – it’s a smaller bank when compared to Teachers Mutual Bank Limited however it holds significant capital, which it will bring to the Merged Bank.
Just like us, it has a rich history, providing banking services to its communities with ethical and sustainable banking products. It is also B Corp Certified, and a proud supporter of its local community and the Australian Mutuals Foundation.
What’s next?
The proposed merger requires regulatory and member approval to proceed.
When the member vote opens on Monday 9 February, all members who are eligible to vote will be sent a Member Information Booklet and voting materials.
The Special General Meeting will be held on Thursday, 12 March 2026 at 4pm (AEDT) at the Amora Hotel Jamison Sydney.
Our commitments for the proposed merger
Lower fees, more value and a broader range of products
You’ll benefit from a broader range of competitive financial products and services—plus savings from lower fees.
Improved Australian-based customer service
The merger enables improved Australian-based customer service with contact centre teams in Sydney, Perth, and across Australia.
Familiar brands and service
Upon merging, the Teachers Mutual Bank, Health Professionals Bank, Firefighters Mutual Bank, UniBank and Australian Mutual Bank brands will operate alongside each other.
More branches, no closures
There’ll be no branch closures due to the merger. Post-merger you’ll have access to nearly double the number of branches, with locations from both banks available to all members.
100% member-owned
We’ll remain 100% member-owned, meaning our profits are re-invested into our organisation for the benefit of members, community and society.
No change to account or banking details
There will be no change to how our members do their banking. Your member number, account numbers, and BSB will remain the same.
Greater investment into smarter, safer banking
We'll invest more in digital and mobile banking; boost customer support; and strengthen investment against scams, fraud and cyber threats.
100% Australian based
Our operations will remain 100% based in Australia.
Stronger bank, broader career paths
Our combined 750 employees will have even more opportunities to grow and build fulfilling careers in our bank and there will be no forced redundancies as a result of the merger.
Profit for purpose
We’ll keep operating as a profit for purpose bank and retain our commitment to B Corp Certification.
Giving back to our communities
We'll keep supporting the industries and communities that support us through sponsorships, scholarships and other community partnerships. Post-merger we'll also support the Australian Mutuals Foundation.
This proposed merger is a proactive decision by our Board of Directors who believe that combining the strengths of the two banks will make us an even stronger bank and enable us to improve the quality, convenience, and value of our services.
Member-owned banks are facing common challenges and significant investment is required to keep pace with rapidly evolving technology, cybersecurity, and member expectations. These challenges have driven significant consolidation across our sector, and in recent years, eight of the largest mutual banks have merged or announced intentions to merge.
Coming together, we’ll create an even stronger, future-ready bank that can continue to be a challenger in the Australian banking sector, while remaining small enough to keep the personalised service we know our members love.
We are proposing to merge with Australian Mutual Bank – a mutual bank that shares a similar heritage, values and future ambitions.
Like us, Australian Mutual Bank is 100% member owned, with a rich history of serving its communities with ethical and sustainable banking products. Originally founded to serve employees in transport, local government and energy sectors, Australian Mutual Bank has been providing personalised banking services for more than 70 years. Today, they support approximately 60,000 members while making a positive impact in their local communities.
As a stronger, more resilient bank, we will be able to build on what our members already love about our bank.
Combining the financial strength of our two banks will deliver increased investment in our customer service, a broader range of competitive products, and digital banking and cyber security.
In the short term, our members will benefit from
1. Lower fees, more value and a broader range of products
Upon merging, the retail brands Teachers Mutual Bank, Health Professionals Bank, Firefighters Mutual Bank, UniBank, and Australian Mutual Bank will operate alongside each other as part of Teachers Mutual Bank Limited.
When the member vote opens on Monday 9 February, all members who are eligible to vote will be sent a Member Information Booklet and voting materials, including a link to vote online and instructions on how to request and submit a Proxy Form.
The voting period closes at the Special General Meeting which will be held on Thursday, 12 March 2026 at 4pm (AEDT) at the Amora Hotel Jamison Sydney. Members can attend and vote online or in person.
