A bank built by teachers, for teachers
Our story
We were created for one simple reason: to give teachers a better deal in banking.
More than 60 years ago, a group of teachers came together with a simple belief: by pooling their money and supporting one another, they could build something fairer than the big banks of the day. A bank that understood their lives. A bank that put people before profit.
From that belief, a small credit union was born – one that has grown into today’s Teachers Mutual Bank. And that founding purpose still guides everything we do.
We’re proudly member-owned. That means we don’t answer to external shareholders. We answer to teachers, education workers and their families - the people who own the bank and rely on it every day.
That’s why we design our products, policies and support around teachers’ real needs. From making home loans more accessible for casual and relief teachers, offering everyday and savings accounts with $0 monthly fees, providing mobile bankers who can meet you at school, at home or over the phone, and an Australian-based call centre where real people take the time to listen and help.
From humble beginnings, we’ve grown to become one of Australia’s largest and most respected mutual banks. Today, we’re part of Teachers Mutual Bank Limited. Alongside Australian Mutual Bank, Health Professionals Bank, Firefighters Mutual Bank and UniBank, we serve over 280,000 members across education, healthcare and emergency services.
Milestones
1966
We’re founded as the Hornsby Teachers Credit Union
1967
With 29 members and $644 in assets, we change our name to NSW Teachers Credit Union
1991
With more than $1 billion in loans to members, 65,448 members, and more than $307 million in assets - we become Australia's largest credit union
2006
We publish our first sustainability report and commit to reduce energy and water consumption and contribute 3% of after-tax profit to social responsibility
2012
We change our retail name to Teachers Mutual Bank operated by Teachers Mutual Bank Limited
2014
We are named one of the World's Most Ethical Companies by the Ethisphere Institute and retain this accolade for a decade
2022
We achieve B Corp Certification for the first time. Today, we’re one of only 57 B Corp banks globally
2023
We embark on our first Reconciliation Action Plan (RAP), a formal step towards reconciliation
2024
Teachers Mutual Bank Tops Roy Morgan's customer satisfaction rankings
2025
Named Customer-Owned Institution of the Year at the Money magazine Consumer Finance Awards
2025
We re-certify as a B Corp again and open a new head office in the heart of Sydney's CBD
Putting members first. That's customer-owned banking.
Over 4.5 million Australians bank with mutual banks, credit unions and building societies; organisations that reinvest profits into better banking for their customers and their communities.
As one of Australia’s largest mutual banks, we played a part in the development of the Customer Owned Banking Code of Practice, reinforcing our commitment to:
- the benefits of mutuality
- community involvement
- fairer fees and
- outstanding customer or member service.
Credentials and recognition
Our commitment to responsible banking is reflected in the accreditations that support our purpose of Banking for Good. Since 2014, we’ve earned over 60 recognitions for sustainability and ESG performance.
Do work that makes a difference
Purpose-led work. People-first culture. You’ll be part of a team that supports essential workers, values fairness and collaboration, and takes pride in doing work that genuinely makes a difference.
LATEST UPDATES
- One of only 60 banks globally to be Certified by B Corp as of 11 March 2026
- National Winners 2024 - Banksia Foundation banksiafdn.com/national-winners-2024 Large Business Sustainable Leadership Award by the Banksia Foundation. The Banksia Foundation was established in 1989 by a group of passionate people, recognising community members for their positive contributions to social and environmental sustainability initiatives. The Large Business Sustainability Leadership Award celebrates exceptional commitment and achievements in integrating sustainable practices across its operations (including governance).
- GoodCompany Awards | GoodCompany | Australia Named to the Good Company Awards (previously known as Best Workplaces to Give Back) These awards recognise the Top 40 companies in Australia that exemplify giving back via donating, volunteering, fundraising, charity gift cards, and other pro-social behaviours.
- https://www.responsibleinvestment.org/research-and-resources/type/benchmark-reports Responsible Investment Leaders are recognised by the Responsible Investment Association Australasia (RIAA). RI leaders are named in the RIAA Benchmark report Benchmark Report