Creating an even stronger bank
At our Special General Meeting on 12 March 2026, our members voted yes to create an even stronger, member-owned bank by merging with Australian Mutual Bank.
This important milestone clears the path for final regulatory approval ahead of bringing our two banks together as a merged organisation on 1 May 2026.
Australian Mutual Bank will join our existing brands – Teachers Mutual Bank, UniBank, Firefighters Mutual Bank and Health Professionals Bank – as part of Teachers Mutual Bank Limited.
By merging with Australian Mutual Bank, we will create an even stronger and more resilient bank with increased capacity to invest in what our members value: customer service, competitive financial products, and digital banking services – including fraud and scams prevention technology.
As a merged bank, we’ll remain committed to supporting the professions and communities that support us, through sponsorships, scholarships and other community partnerships.
Together, we’ll be an even stronger, more resilient, 100% member-owned bank.
Our commitments for the merger
Lower fees, more value and a broader range of products
Members will benefit from a broader range of competitive financial products and services – plus savings from lower fees.
Improved Australian-based customer service
The merger enables improved Australian-based customer service with contact centre teams in Sydney, Perth, and across Australia.
Familiar brands and service
Upon merging, the Teachers Mutual Bank, Australian Mutual Bank, UniBank, Firefighters Mutual Bank and Health Professionals Bank brands will operate alongside each other.
More branches, no closures
There’ll be no branch closures due to the merger. Post-merger members will have access to nearly double the number of branches, with locations from both banks available to all members.
100% member-owned
We’ll remain 100% member-owned, meaning our profits are re-invested into our organisation for the benefit of members and the community.
No change to account or banking details
There will be no change to how our members do their banking. Your member number, account numbers, and BSB will remain the same.
Greater investment into smarter, safer banking
We'll invest more in digital and mobile banking; boost customer support; and strengthen investment against scams, fraud and cyber threats.
100% Australian based
Our operations will remain 100% based in Australia.
Stronger bank, broader career paths
Our combined 750 employees will have even more opportunities to grow and build fulfilling careers in our bank and there will be no forced redundancies as a result of the merger.
Profit for purpose
We’ll keep operating as a profit for purpose bank and retain our commitment to B Corp Certification.
Giving back to our communities
We'll keep supporting the industries and communities that support us through sponsorships, scholarships and other community partnerships. Post-merger we'll also support the Australian Mutuals Foundation.
About Australian Mutual Bank
Australian Mutual Bank is a 100% member owned bank. It shares a similar heritage, values, and focus on putting members first. With approximately 60,000 members, total assets of $1.92 billion, and 150 employees – it’s a smaller bank when compared to Teachers Mutual Bank Limited however it holds significant capital, which it will bring to the merged bank.
Just like us, it has a rich history, providing banking services to its communities with ethical and sustainable banking products. It is also B Corp Certified, and a proud supporter of its local community and the Australian Mutuals Foundation.
Frequently asked questions
This merger is a proactive decision by our Board of Directors who believe that combining the strengths of the two banks will make us an even stronger bank and enable us to improve the quality, convenience, and value of our services.
Coming together, we’ll create an even stronger, future-ready bank that can continue to be a challenger in the Australian banking sector, while remaining small enough to keep the personalised service we know our members love.
We are merging with Australian Mutual Bank – a mutual bank that shares a similar heritage, values and future ambitions.
Like us, Australian Mutual Bank is 100% member owned, with a rich history of serving its communities with ethical and sustainable banking products. Originally founded to serve employees in transport, local government and energy sectors, Australian Mutual Bank has been providing personalised banking services for more than 70 years.
Australian Mutual Bank will bring approximately 60,000 members and 150 team members to the merged bank.
As a stronger, more resilient bank, we will be able to build on what our members already love about our bank.
While we are already a low-fee bank, one of the first benefits members will see is lower fees. We’re adopting a ‘best-of-both’ approach to fees and charges in the merged bank. That means, if Australian Mutual Bank has a lower fee on a product or service, this fee will be taken forward for the benefit of all members.
With greater investment in smarter, safer banking, members also benefit from the introduction of self-service international transfers within internet banking, as well as new fraud protection services to help safeguard their information and accounts on the go.
During the second half of 2026, members will benefit from access to nearly double the number of branches, extended Contact Centre hours, and a broader range of products.
The merger is planned to come into effect in May 2026, following final regulatory approvals.
Our teams are already working hard to bring together the two banks to create an even stronger bank.
We’ll be in touch with members over the coming weeks to share more information about the positive changes, what they mean for members, and when they’ll begin.