Our story Our journey started based on partnership, education and integrity. Over time, we’ve become braver, bolder and more competitive – but our core beliefs have never wavered. Talk to us Phone us Email us Breadcrumbs Teachers Mutual Bank About us Our story Our story Our journey started based on partnership, education and integrity. Over time, we've become braver, bolder and more competitive - but our core beliefs have never wavered. Our history Milestones Photos Our history A bank by teachers, for teachers For over 50 years Teachers Mutual Bank has provided key financial services to Australian educators. Now, Teachers Mutual Bank Limited is one of Australia’s largest mutual banks, comprising four brands: the original Teachers Mutual Bank, UniBank, Firefighters Mutual Bank, and Health Professionals Bank. With over 200,000 members and more than $7 billion in assets, Teachers Mutual Bank Limited is one of Australia’s largest mutual banks. Teachers Mutual Bank continues to be passionate about assisting members secure their financial futures through superior member support and banking products. Teachers Mutual Bank Limited is a market leader in member advocacy in the Australian banking sector, and is also committed to strong standards of corporate responsibility through community investment and ethical business as one of the World’s Most Ethical Companies*. Our success was born out of a dream and a vision to give teachers and their families better financial options. For three years the founding members worked tirelessly to gain approval to launch the Credit Union. With volunteers processing work it wasn’t long before teachers used their lunch hours to bank with us. Our members saw this as same day service and thus began our strong service ethic. *‘World’s Most Ethical Companies’ Award, from Ethisphere Institute (awarded consecutively 2014–2019). "We didn't know what we were getting involved in, but we knew we were doing the right thing!" Col and Betty Foundation Board members From humble beginnings... Building on 47 years of success as a mutual financial institution, we asked members to support our proposal to change our name. After an overwhelming response at both our AGM and through proxy votes in November 2011, and gaining APRA approval in early 2012, we became Teachers Mutual Bank in April 2012. Becoming a mutual bank will allow us to strengthen our competitiveness in the financial services market. This means we can create better products and services, reduce our costs and pass the savings directly on to you. We may have changed to Teachers Mutual Bank, but our philosophy hasn’t. We’re committed to helping you save money, build wealth and enjoy financial wellbeing throughout your lifetime. We never forget that it’s our members who benefit from our financial performance. That’s why we have always put you first. We focus on five pillars of sustainable business practices being: Good governance Operational excellence Sound financial performance Excellent member relations Environmental and community responsibility We’re advocates for you. We’re here to give teachers and their families better options and ultimately, a better way of life. So while some things have changed, one thing will always stay the same. And that’s our unwavering commitment to our members. Milestones Timeline Year Key Milestones 1966 Founding board Members: Joseph Stone (Chairman), Betty Shearman, Bryan Priest, Colin Thomson, Vernon Wildy, Cecil Norgate, Douglas Wale, Bob Dobson (Treasurer), and Dennis Stewart (secretary). The Hornsby Teachers Association Credit Union was formed on 27th September 1966 in response to a group of teachers recognising the need for a mutual financial organisation that understood their needs. 1967 Name changed to NSW Teachers Credit Union at the first Annual Meeting on 20th September 1969 Sheila Davison became our first employee and we had 532 members 1970 Ken Miller was appointed General Manager 1974 Bill Paying Service introduced 1976 Cash withdrawals became available 1977 Members’ records were computerised 1980 Telecheque was introduced allowing members to call and request a cheque withdrawal 1982 Redi-Access Network utilising other Credit Unions' offices for deposits and withdrawals was introduced 1983 Redicard and the Rediteller ATM Network began and teachers were able to direct all their pay to the Credit Union 1984 Rooty Hill office opened to service the Western Sydney area 1985 Point of Sale (POS) machines and Cheque Books were introduced 1987 Ken Miller retired as General Manager. The membership was 58,000. John Prescott was appointed as General Manager 1994 Pay for non-Department of Education members was able to be deposited electronically 2001 John Prescott retired as General Manager. The membership was 104,785 with assets of $923 million. Stuart Gillies appointed as Chief Executive 2005 Stuart Gillies retired as Chief Executive. The membership was 129,617 with assets of $1.5 billion. Steve James appointed as Chief Executive 2006 Celebrated our 40th Anniversary 2007 Membership exceeds 143,000 with assets exceeding $1.8 billion, office opened in Canberra 2008 Membership exceeds 155,000 with assets exceeding $2.4 billion, office opened in Perth. Merger with TAFE and Community Credit Union 2009 Received first place in CHOICE magazine's survey on personal banking satisfaction 2010 Our name is officially changed to Teachers Credit Union reflecting our status as a multi-state Credit Union. Assets reach $3 billion in June 2012 The Australian Prudential Regulation Authority (APRA) approves our name change to Teachers Mutual Bank and our status changed from a credit union to a bank effective 1 April 2012 2014 Named as one of the World's Most Ethical Companies* *View our awards and achievements Photos Our buildings over time Tennis Shed, Hornsby 1966 - 1969 Burwood Road, Burwood 1969 - 1970 Phillip Street House, Parramatta 1970 - 1973 Phillip Street Office, Parramatta 1973 - 1976 Parramatta Road, Homebush 1976 - 1988 Beames Avenue, Rooty Hill 1984 - Now Powell Street, Homebush 1988 - Now Trenerry Street, ACT 2007 - Now Donald street, Hamilton 2009 - Now Royal Street, East Perth 2008 - Now Back to top.