Teachers Mutual Bank Limited formerly the Teachers Credit Union is one of the largest mutual banks in Australia, with more than 156,000 members and assets of $4.22 billion. Membership is primarily open to future, serving and retired teachers and other employees in the Australian education sector, and their immediate family members. The organisation achieved the highest ranked customer service, according to a Choice survey in 2009.
Each member holds one equal share in the organisation and all profits are returned to members by way of lower fees and interest rates than those offered by competing commercial banking enterprises.
The membership of Teachers Mutual Bank is currently geographically spread throughout New South Wales, the Australian Capital Territory, Western Australia and the Northern Territory. With such a decentralised membership, they have been an innovator in providing banking services with both telephone and internet banking, and the need for only five branches, two located in Sydney, and one in each the Hunter Region, the Australian Capital Territory and Western Australia.
Teachers Mutual Bank is a long-standing supporter of many education programs and has made a significant contribution to public education in New South Wales. This support extends across a broad range of educational programs including sport, the arts, conferences and workshops as well as significant activities and events at all levels of the school system.
The head office is located at Homebush, on Parramatta Road in Sydney's inner western suburbs.
References
External links
- Teachers Mutual Bank Limited
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