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Teachers Mutual Bank has been named as one of the 2015 World’s Most Ethical Companies by independent research centre the Ethisphere Institute, for the second year in a row.
One of only two Australian organisations named this year, Teachers Mutual Bank has been recognised for its ability to foster a culture of ethics and transparency through every level of the business.
"We are proud to have been named one of the World’s Most Ethical Companies for the second consecutive year. It is a significant achievement to be recognised on the international stage for our long term commitment to ethical business practices” said Steve James, CEO of Teachers Mutual Bank.
To make the prestigious list, companies must excel in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture and ethics (20%), governance (15%) and leadership, innovation and reputation (10%).
The mutual bank’s renewed title as one of the World’s Most Ethical Companies, comes just after it announced its updated community investment rate of 4.55% of pre-tax profits (as measured by the London Benchmarking Group). That is an impressive 12.6 times the financial services industry average in Australia and New Zealand.
Profitability and sustainability are not mutually exclusive. We believe it is our responsibility as a business to invest in ethical practices and to leave a positive mark on the community in which we operate” said Steve James.
There is a growing tide of socially aware consumers who are sending a strong message by demanding ethical and sustainable practices from the businesses they deal with. Among the reasons our members join Teachers Mutual Bank is because they support the way we do business and they want their money to help create positive change in the community.
Rachel Fisk, Teachers Mutual Bank PR and Corporate Affairs Graduate on 9735 9425 or 0467 800 414
Teachers Mutual Bank, the former Teachers Credit Union, launched on 2 April 2012 and is the leading Australian bank servicing the education sector. One of the largest mutual banks in Australia, it has over 160,000 members, and more than $4.5 billion in assets.
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. More information about Ethisphere can be found at: http://ethisphere.com