Why Teachers Mutual Bank Limited became a B Corp
In February 2022 Teachers Mutual Bank Limited (TMBL) achieved B Corp Certification for three years to February 2025, with an overall B Impact Score of 102.4.
There are 42 B Corp banks, including mutuals, worldwide, nine of these banks are in Australia, and TMBL is now part of 5,000 B Corps globally.
Why this matters:
- Being a B Corp aligns with TMBL’s Strategic Plan and our purpose: Banking for good, for those who do good and proves that our bank's purpose is not just words.
- Our members contribute so much to society; they choose a bank that aligns with their values of making a positive social impact.
- B Corps represent the future global model for socially responsible companies and especially for mutual banks.
- Being a B Corp provides independent evidence that profit for purpose is our business model and our philosophy - we run our bank for people, planet, and profit.
- Being a B Corp means we walk the talk, when we say we are a world-leading socially responsible bank.
- B Corp Certification is a tough test – it is a global high standard of verified social and environmental performance, public transparency, and legal accountability.
- B Corp Certification further strengthens our social responsibility credentials.
- B Corps are leading the way in using business as a force for good across the globe, and that’s why we’ve become a B Corp. Businesses have a leading role to play in creating a healthy and sustainable society and we’re committed to taking deliberate action now, to build a better future for our Members.
- 100% of Members benefit. Our corporate entity, Teachers Mutual Bank Limited is a Certified B Corp. Certification extends to our five member-facing brands; Teachers Mutual Bank, Firefighters Mutual Bank, Health Professionals Bank, UniBank and Hiver.
- Transparency builds trust. Once certified, each B Corp must make its B Impact Report transparent on bcorporation.net, allowing the public to see the areas in which specific companies excel and to compare B Corps' scores against the performance of mainstream businesses.