Teachers Mutual Bank Limited has announced by 2027, the Bank’s car fleet will be 100% electric vehicles (EV), replacing its fleet of fossil fuel cars. 

Head of Socially Responsible Banking Corin Millais said the Bank has shifted gear to go at maximum speed to 100 per cent EVs by 2027, ending the Bank’s use of cars run on fossil fuels.

“We have already banned purchasing petrol and diesel cars, taking a leadership position in business on EV fleets. By taking this leading action, the Bank is supporting a rapid acceleration to 100 per cent EVs. Green groups are calling for 100 per cent EV fleets by 2030, so we are well ahead of this target,” Mr Millais said.

“We’ve crunched the numbers and it just makes sense to go 100% EV. Cars contribute 10 per cent of Australia’s greenhouse emissions, and company fleet cars are 50 per cent of sales - car fleets also play a huge role because they act as an important feed for the second hand car market. If company fleets move fast to 100 per cent EVs, like Teachers Mutual Bank Limited, this will allow consumers to access cheaper EVs more quickly. 

“There is a growing tide of socially aware consumers who want banks and superfunds to improve their ethical and sustainable practices. Here at Teachers Mutual Bank Limited, it’s our credentials and our history of commitment to banking for good that sets us apart. 

“Committing to a 100 per cent EV car fleet by 2027 is a tangible proof point that verifies our commitment. Our investment in, and commitment to, EVs is 31 times what we did in 2013, when we bought an early EV hybrid car.”  

Mr Millais shared, “The Bank has a national office and branch footprint, and we have always had a fleet of cars for our customer facing team whose role is to visit thousands of customers around the country in their homes, at schools or at conferences and events.” 

“For our customers, they know that when they receive a visit from one of our Bank’s representatives, including our mobile banking team, they will only be visited by someone driving an EV car.

“This means by 2027 the Bank’s EV fleet will have travelled 1.4 million kilometres which is equivalent to 92 times around Australia - this will represent a million kilometre switch. By going 100 per cent EVs by 2027 our customers can see we are a bank that is serious about rapid action on climate change.”

Powering the fleet transition at Teachers Mutual Bank Limited is led by Jose Fredes, Head of Property and Facilities. 

Mr Fredes explained the Bank is putting its foot to the floor, installing 12 charging stations at Teachers Mutual Bank Limited’s offices in Sydney, Brisbane and Perth for its customers and staff. 

“When EVs are charged at our offices they will be charged with renewable electricity. This means our EV fleet will run on 100 per cent renewable electricity, when charged at the Bank’s premises,” he said. 

“We all need to move up a gear. Transitioning to 100 per cent EVs by 2027 is a win for our customers, our staff and the environment.”