News Centre
Read the latest media releases, announcements and social responsibility news from Teachers Mutual Bank Limited.
Announcements
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Pulse Credit Union Limited merger vote results [8 September 2021]
Progress update on our merger with Pulse Credit Union Limited [5 August 2021]
Progress update on our merger with Pulse Credit Union Limited [20 May 2021]
Merger with Firefighters Credit Co-operative Limited complete [5 May 2021]
Firefighters Credit Co-operative Limited merger vote results [30 March 2021]
Progress update on our merger with Firefighters Credit Co-operative Limited [8 March 2021]
Pulse Credit Union merger announcement [20 January 2021]
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]
Pulse Credit Union Limited merger vote results
8 September 2021
A Special General Meeting for Pulse Credit Union Limited members was held on 7 September 2021 to vote on the proposed merger with Teachers Mutual Bank Limited. We are pleased to report that the Pulse Credit Union Limited members voted strongly in favour (98%) of joining the Health Professionals Bank and UniBank divisions of Teachers Mutual Bank Limited.
Subject to final regulatory approvals, Pulse Credit Union’s 6,000 members will join our Bank on 1 November 2021. We look forward to welcoming them and growing our presence in the Victorian healthcare and tertiary education community.
Progress update on our merger with Pulse Credit Union Limited
5 August 2021
Our proposed merger with Pulse Credit Union Limited in Victoria is progressing well. We have received approval from the regulator, APRA, to present the merger proposal to the Pulse Credit Union Limited Members, encouraging them to vote in a Special General Meeting that will be held on Tuesday 7 September 2021.
The proposed merger can proceed if at least 75% of Members voting support the proposal recommended by the Board of Directors. Our Members will not be required to vote.
Teachers Mutual Bank Limited CEO, Steve James, said:“The proposed merger with Pulse Credit Union Limited creates an opportunity for us to grow further and provide exceptional service and value to additional loyal mutual banking members based in Victoria.”
Progress update on our merger with Pulse Credit Union Limited
20 May 2021
The proposed merger between Teachers Mutual Bank Limited and Pulse Credit Union has now been approved by both Boards of Directors. The next milestone in the merger process is to receive support from the regulator, APRA, to proceed.
Once regulatory approval is received, the merger proposal will be put forward to the Pulse Credit Union members in September at a Special General Meeting. Teachers Mutual Bank Limited members will not be required to vote on the proposal.
Merger with Firefighters Credit Co-operative Limited complete
5 May 2021
As of Saturday 1 May, Teachers Mutual Bank Limited completed the data transfer to formalise its merger with Firefighters Credit Co-operative Limited. Now, all Firefighters Credit Co-operative Limited members are part of Firefighters Mutual Bank and have access to a wider range of products and services such as a mobile banking app, free and unlimited ATM withdrawals, NPP, and the opportunity to apply for fixed rate loans and credit cards.
Firefighters Mutual Bank General Manager, Jim O’Connell, said:
“We are delighted to welcome our new members to Firefighters Mutual Bank and look forward to continued growth as the key financial services provider for the national firefighter and emergency service worker community.”
Firefighters Credit Co-operative Limited merger vote results
30 March 2021
A Special General Meeting for Firefighters Credit Co-operative Limited members was held on 18 March 2021. Firefighters Credit Co-operative Limited members were asked to vote on the proposed merger and we are pleased to report they voted strongly in favour (93.26%) of joining Teachers Mutual Bank Limited.
The merger brings strong synergies and efficiencies which will ultimately bring more benefits to members. The members will join our Firefighters Mutual Bank Division on 1 May 2021. We look forward to welcoming them and to continue servicing the firefighter and emergency services community.
Progress update on our merger with Firefighters Credit Co-operative Limited
8 March 2021
Our proposed merger with Firefighters Credit Co-operative Limited is progressing well. We have received approval from the regulator, APRA, to present the merger proposal to Firefighters Credit Co-operative Limited members, encouraging them to vote in a Special General Meeting that will be held on Thursday 18 March 2021.
The proposed merger can proceed if at least 75% of Members voting support the proposal recommended by the Board of Directors. Our members will not be required to vote.
Firefighters Mutual Bank General Manager, Jim O’Connell, said:
“We share a lot in common with Firefighters Credit Co-operative Limited. We both have a clear member-first approach, strongly rooted by our heritage as mutual banks and our vision to support firefighters in securing their financial futures. We look forward to presenting the proposed merger to Firefighters Credit Co-operative Limited members.”
Pulse Credit Union merger announcement
20 January 2021
The Boards of Pulse Credit Union Limited and Teachers Mutual Bank Limited have signed a Memorandum of Understanding to enter merger discussions and begin due diligence.
Aligning with our Health Professionals Bank division, Pulse Credit Union Limited has traditionally provided banking services to members in the healthcare industry. Mergers with La Trobe University Credit Union and Melbourne University Credit Union in October 2011 allowed Pulse Credit Union Limited to extend the provision of services to members in the tertiary education sector, creating further alignment with our UniBank division.
Our CEO, Steve James, said:
“Throughout the disruptive conditions of the past year, our Board of Directors has focused on maintaining the strength of the Bank and meeting the evolving needs of our members. We are proud of the growth we have experienced in this time and our success in enhancing our member value proposition with an emerging digital-first approach. The proposed merger with Pulse Credit Union Limited creates an opportunity for us to grow further and provide exceptional service and value to additional loyal mutual banking members based in Victoria.”
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.”
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