Banking for Good report released: a message from our Chair and CEO
23 May 2023
"We are proud to present Teachers Mutual Bank Limited’s long-standing commitment to ethical and socially responsible banking.
In a rapidly changing world, the community has greater expectations on businesses than ever before. Now more than ever, people expect their money to be used ethically and responsibly.As one of Australia’s largest mutual banks, we’ve been doing good for more than 55 years. Since our very first meeting as a credit cooperative in a tennis shed, ethical and sustainable practice has been at the heart of what we do and has driven our model of mutual banking.
Our values, frameworks, policies, and actions underpin our commitment.
As does third party verification – we are a Certified B Corp Bank, meaning we are a global leader in using business as a force for good. We are not like other banks – profit for purpose is our business model, and we are 100% owned by our Members.
We believe that we have been one of the pioneers of a new wave of responsible investment in Australia since 2015. All our retail mortgages, deposits and wholesale products are independently certified by the Responsible Investment Association Australasia (RIAA), which accounts for almost all (98%) products the Bank sells.
Our Members contribute so much to society, working for the benefit of future generations and they expect their bank to share their values. We want to go above and beyond their expectations, which is why we benchmark ourselves against international ethical standards. We have been named one of the World’s Most Ethical Companies for ten years in a row since 2014.
When people entrust us with their money, they can be reassured that we always act responsibly considering the benefit for our Members, society, and the planet. We are proof that a bank can be both profitable and socially responsible – putting our Members and the community at the heart of our decisions while maintaining prudent operational management of the Bank.
Join us. Be part of the future, today”
Maree O’Halloran, Chair
Steve James, CEO