News Centre
Read the latest media releases, announcements and social responsibility news from Teachers Mutual Bank Limited.
Announcements
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Teachers Mutual Bank Limited reaches new milestone of $9 billion in assets [19 February 2021]
Our first Hybrid Annual General Meeting was held on 21 November 2020 [25 November 2020]
Award winner: Most Green Initiative 2020 [11 November 2020]
Our FY2019-2020 Annual Report and Sustainability Update is available now [16 October 2020]
The First Home Loan Deposit Scheme to offer 10,000 new allocations [3 October 2020]
The 54th Annual General Meeting of Teachers Mutual Bank Limited [14 September 2020]
Firefighters Credit Co-operative Limited merger announcement [19 August 2020]
Teachers Mutual Bank Limited reaches new milestone of $9 billion in assets
19 February 2021
Teachers Mutual Bank Limited has today announced that its total assets has reached a new milestone of $9 billion. This milestone reflects the mutual bank’s strength and growth in the first half of FY2020-2021 in both lending and deposits.
Our CFO, Glenn Sargeant, said:
“We are pleased to see strong growth in our assets to $9 billion at 31st January 2021 from $8.14 billion at 30 June 2020. This achievement is a testament to our long-standing commitment to our members. We consistently deliver high value products and services and hope to continue on our strong growth trajectory.”
Our first Hybrid Annual General Meeting was held on 21 November 2020
25 November 2020
Our Annual General Meeting (AGM) was held as an online event on Saturday 21 November. This year the meeting was moved to a new format to ensure the safety of members and staff during the COVID-19 pandemic. While the Board of Directors and Management team missed the opportunity of meeting with members in person, the new format allowed for members from across Australia to participate in the meeting.
If you were unable to join the live webcast, you can review the important information:
If you have any questions about the AGM, please email us: [email protected]
Award winner: Most Green Initiative 2020
11 November 2020
Teachers Mutual Bank Limited is so pleased to accept the Australian Banking Innovation Award for the Most Green Initiative in 2020. We are the only bank in Australia to have all retail deposits, mortgages and wholesale funding independently Certified as ethical or responsible investments under strict criteria that excludes harmful industries. This certification is built in to nearly all of the products we sell at no extra cost to our members
Our CEO, Steve James, said:
“Congratulations to all of the other nominees and winners at this year’s awards. We are in fine company and are energised by the great innovation happening in the banking industry despite what has been a challenging year.”
Our FY2019-2020 Annual Report and Sustainability Update is available now
16 October 2020
In our 54th year of operation, we have remained financially strong and continued to build one of the largest mutual banks in Australia. Our FY2019-2020 Annual Report and Sustainability update is now available. The report includes an address from our Chair and CEO, an update on our members, employees and social responsibility activity, as well as our Annual Accounts.
Our CEO, Steve James, said:
“At the end of the 2019-2020 financial year, we were proud to be serving over 210,000 members and maintaining $8.14 billion in assets. We are honoured to serve teachers, university staff and graduates, firefighters, paramedics, nurses and their families.”
The First Home Loan Deposit Scheme to offer 10,000 new allocations
3 October 2020
As a lender on the First Home Loan Deposit Scheme (Scheme) panel, we welcome the Federal Government’s announcement that the Scheme will be increased by a further 10,000 allocations in FY2020-2021.
The additional 10,000 guarantees will be made available in FY2020-2021 for eligible first home buyers to build a new dwelling or purchase a newly built dwelling with a deposit of between 5 and 20 per cent of the property’s value.
We look forward to supporting more of our members on their journey to home ownership when the new allocation is available.
More information on the Scheme and the New Home Guarantee can be found here.
The 54th Annual General Meeting of Teachers Mutual Bank Limited
14 September 2020
This year our Annual General Meeting (AGM) will be held on 21 November 2020. In light of COVID-19 risks and in the interest of the health and safety of our members, the AGM will be broadcast live by the CEO and Board for members across the country.
This new format will help to ensure the safety of all members and enable participation from across the country.
Our AGM is an opportunity for members to participate in the democratic process as a member of our bank. We look forward to hearing your feedback and questions.
For more information:
Firefighters Credit Co-operative Limited merger announcement
19 August 2020
We are excited to announce that our Board of Directors has begun proceedings towards a merger with Firefighters Credit Co-operative Limited in Victoria.
Firefighters Credit Co-operative Limited is a small credit union with approximately 3100 members and $63 million in assets. The credit union was established in 1976 to look after the welfare and financial needs of firefighters across Victoria.Due to the strong synergies in value with our Firefighters Mutual Bank division, the credit union would join this division of Teachers Mutual Bank Limited.
Our CEO, Steve James, said:
“The proposed merger with Firefighters Credit Co-operative Limited shows strong leadership and foresight by both boards of directors in creating a strong opportunity for both mutuals to grow and provide exceptional service to their loyal firefighter members.”
Read about the merger:
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