We’re proud to be named as one of the World’s Most Ethical Companies.
World's Most Ethical Companies
We’re a multi-year recipient of the World’s Most Ethical Companies evaluation, meaning our members can be confident that we’re working in their best interests.
What is the World’s Most Ethical Companies evaluation?
Our commitment is to be a world leading ethical business, and WME is one of the primary methods to measure this. We aim to continually improve on our performance. We make sure we are accountable, and benchmark ourselves against world leading standards.
The World’s Most Ethical Companies (WME) evaluation is based upon the Ethisphere Institute’s Ethics Quotient (EQ) Survey which offers a quantitative way to assess a company’s performance in an objective, consistent and standardised manner. The recognition honours superior achievements in transparency, integrity, ethics and compliance, and underscores an honouree’s commitment to leading with integrity and prioritising ethical business practices.
How long has the Bank been one of the World’s Most Ethical Companies?
Teachers Mutual Bank Limited has been named one of the World’s Most Ethical Companies for six years in a row since 2014, and includes UniBank for four years: 2016-2019, and Firefighters Mutual Bank for two years in 2018 and 2019.
Who are the World’s Most Ethical Companies?
128 companies were named as the 2019 World’s Most Ethical Companies, spanning 21 countries and 5 industries. The full list is available on the Ethisphere website.
What is the process and criteria?
WME is a tough exam that gets harder every year. There are 190 questions across five categories:
Ethics and compliance program (35%); Corporate citizenship and responsibility (20%); Culture of ethics (20%); Governance (15%); Leadership, innovation and reputation (10%)
The Bank submits extensive evidence. For example, we provide over 300 separate documents and a 55 page summary. Every year the WME evaluation criteria are strengthened. The Ethisphere Institute states that ‘Yesterday’s leading practices are today’s standards. Changes in the regulatory environment, global news headlines, and progressing best practices all contribute to an ever-evolving yardstick by which companies are measured. For the 2019 application year, significant revisions were made to each section, driven by the increasing sophistication of best practices of leading companies’.
The evaluation is a comparative process with applicants being measured against other companies of similar industry, size and structure. Each year the companies we are judged against continue to improve their performance.
Visit the Ethisphere website for more information
Our aim is to be the most socially responsible bank in Australia. The Royal Commission has shown what happens when you lose sight of the customers’ interests, but for 52 years we’ve been focused solely on them. That’s a big reason we’re recognised as one of the World’s Most Ethical Companies.Steve James, CEO