More FAQ's

FAQs

(A) About our merger partner

Who are we merging with?

We are merging with Australian Mutual Bank Ltd – 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.

Who owns Australian Mutual Bank Limited?

Australian Mutual Bank Ltd is 100% member owned.

(B) What the merger means for our members

What will change for members?

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.

While we are already a low-fee bank, one of the first benefits members will see is lower fees. We’re adopting a ‘best-of-both’ approach to fees and charges in the Merged Bank. That means, if Australian Mutual Bank has a lower fee on a product or service, this fee will be taken forward for the benefit of all members.
With greater investment in smarter, safer banking, members also benefit from the introduction of self-service international transfers within internet banking, as well as new fraud protection services to help safeguard their information and accounts on the go.
During the second half of 2026, members will benefit from access to nearly double the number of branches, extended Contact Centre hours, and a broader range of products.

We are adopting a ‘best of both’ approach to lower fees which means if Australian Mutual Bank has a lower fee on a product, then that fee will be offered to our members on the equivalent product, and vice versa.

When will lower fees come into effect?

Lower fees will be one of the first benefits to come into effect once we have come together as a Merged Bank and the integration of our core banking systems is complete.

We will be in contact with all members to advise them of any changes and the timing for these changes.

When will self-service international transfers and new fraud protection services come into effect?

These benefits are due to come into effect shortly after we have come together as a Merged Bank and completed the integration of our core banking systems.

We will be in contact with all members to advise them of any changes and the timing for these changes.

Will I be able to bank in an Australian Mutual Bank branch?

Yes, over time you’ll have access to an increased branch network of 13 branch locations up from seven branches today.

We will communicate with members to let them know when branch locations from both banks are available to all members.

Where are Australian Mutual Bank’s current branches? 

Australian Mutual Bank’s six branches are located across the Greater Sydney area. The branches are located in Bankstown, Campbelltown, Parramatta, Penrith, Rouse Hill, and Sutherland. 

Does Teachers Mutual Bank Limited plan to open any more branches in addition to the new Australian Mutual Bank branches? 

There are no specific additional branch openings being announced as part of the merger.

How will member service be improved?

By bringing our teams together in the merger, our Contact Centre team will grow. With a bigger team, we will be able to improve member service in the short term. With more capital in the Merged Bank, we will be able to invest further in our team and technology over the longer term.

When will the Contact Centre hours be extended?

We are still working through the details of extending our Contact Centre hours however we expect to announce this in the second half of the year. We will be in contact with members to let them know about the extended hours when they come into effect.

What are the broader range of products and when will they be available?

Australian Mutual Bank’s product range has many similarities to ours but also has some differences. For example, Australian Mutual Bank currently offers business banking services, green loans and financial planning referral services.  Upon merging, these services will continue to be available through the Australian Mutual Bank brand and will be reviewed for roll out across our other brands. 

What will stay the same when the merger goes ahead?

This merger is about building on and enhancing the things we know our members value about our bank.

Upon merging, we will:

Remain 100% member-owned
Operate Teachers Mutual Bank, Health Professional Bank, Firefighters Mutual Bank and UniBank alongside Australian Mutual Bank
Continue to be 100% Australian-based
Make no changes to our members’ account or banking details
Continue to provide Bank@Post access
Continue to support our professions and communities
Maintain our profit for purpose model
Continue to give back through staff volunteering opportunities

Will there be any changes to my account details?

There’ll be no change to how you do your banking. Your member number, account numbers, BSB, and payment arrangements will remain the same.

Will there be changes to my interest rates or accounts?

Your products and services (such as your accounts, deposits, and loans) won’t change as a result of the merger.

Just as we operate today, from time to time there may be changes to product terms and conditions, fees, or interest rates and we’ll notify you as applicable to the relevant product or service.

Will I still be a member of Teachers Mutual Bank Limited after the merger?

Yes. You’ll still be a member of Teachers Mutual Bank Limited.

I have accounts with both Teachers Mutual Bank Limited and Australian Mutual Bank. What happens to my accounts?

Upon merging, members holding accounts with both banks will be able to keep their accounts under their existing retail brands or consolidate them under one brand.

The Merged Bank will be a single Authorised Deposit-Taking Institution (ADI) for the purposes of the government’s Financial Claims Scheme, which offers members a guarantee on deposits up to $250,000 per account holder per ADI. If you have more than $250,000 deposited across your accounts with Australian Mutual Bank and Teachers Mutual Bank Limited, a single government guarantee will apply and so the member’s total deposit guarantee will be $250,000.

(C) The merger process

What’s next in the merger process?

The merger now requires final regulatory approval before our two banks come together as a merged entity. Subject to this approval, our banks will officially merge on 1 May 2026.

When did voting close?

The member vote opened on Monday 9 February 2026 and closed at the Special General Meeting on Thursday 12 March 2026. All members who were eligible to vote were 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.

What was the vote outcome?

Members strongly voted in favour of the merger resolution and well above the required 75% approval rate.

What was included in the Special Resolution?

Members voted on a Special Resolution to approve the merger and related matters. This included proposed updates to our constitution to modernise and support the governance of the Merged Bank, and a change to the director remuneration limit to reflect the larger size and complexity of the combined bank. 

(D) The proposed Merged Bank

What retail brands will the Merged Bank operate?

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.

Will the merger affect Teachers Mutual Bank Limited B Corporation commitment?

Both Teachers Mutual Bank Limited and Australian Mutual Bank currently have B Corp Certification. The Merged Bank will retain the commitment to B Corp Certification.

What is the impact of the merger on employees?

The merger will create opportunities to build a rewarding workplace and employee experience. As a bigger bank there will be broader opportunities for our people to grow and build fulfilling careers. There will be no forced redundancies as a result of the merger.