Supporting the community.
We work with the communities we serve by supporting initatives and programmes through community investment.
Helping communities flourish
Returning profits back to the community is fundamental to how we operate as a mutual bank. Our Constitution directs us to 'promote, encourage and bring about human and social development among individual members and within the larger community within which members work or reside.'
Our community investment creates opportunities for our members, their families and communities to flourish. We are passionate about the future and supporting new ways of thinking that help improve our community and our world.
Measuring Community investment
The guiding principle is to “count all direct cash contributions for community benefit” i.e. the total amount of cash contributions paid directly to community organisations or in support of community activities. This excludes other activities such as overhead, time-in-kind support.
Our FY 2022 community investment
- Total cash invested in the community - $1,450, 024
- Total NPAT invested in the community - 5%
- Total volunteering hours - 329
When measuring direct community investment as a % of NPAT, 1% is considered best practice. In FY 2021:
- Teachers Mutual Bank Limited community Investment contribution was 5%
- On average, the Big Four banks contributed 0.6%.
This means, our direct community investment, as a percentage of NPAT, is 5.6 times greater than the average of the Big 4 banks.