50 years and still going strong A lot’s changed since we opened in 1966, but our commitment to supporting the Australian education sector remains stronger than ever. Talk to us Phone us Email us Breadcrumbs Teachers Mutual Bank About us Our story 50 years and still going strong 50 years and still going strong A lot’s changed since we opened in 1966, but our commitment to supporting the Australian education sector remains stronger than ever. Humble beginnings Milestones Watch history unfold Photos Humble beginnings Teachers Mutual Bank | Your bank We’re turning 50. Celebrate with us with a range of special offers over the coming weeks. In 1966, nine teachers dreamed of a mutual financial organisation that understood and met the needs of teachers. Today, that dream is Teachers Mutual Bank. We may be turning 50, but our values are still the same. We’re still as competitive as ever, with a range of quality financial products and services to benefit you and your family. Over the years we’ve achieved some memorable milestones and been recognised with a range of awards that reflect our commitment to members and to being the best bank, one that’s socially responsible and ethical. We’re proud of what we’ve achieved and look forward to the future supporting you and your family to achieve your dreams. Teachers Mutual Bank. Not just any bank. Your bank. Milestones Our history 1966 1966 The Hornsby Teachers Credit Union holds its formation meeting. 1967 1967 The Hornsby Teachers Credit Union changes its name to NSW Teachers Credit Union at its first AGM. 1969 1969 The credit union appoints its first full-time employee, Sheila Davison, and moves into NSW Credit Union League-owned office in Burwood. 1970 1970 The credit union moves to new premises at 117 Phillip Street, Parramatta. 1972 1972 Teachers Credit Union makes its first sponsorship contribution and begins its association with the Combined High School Sports Association (CHSSA) and Primary School Sports Association (PSSA). 1973 1973 Second Phillip Street location is purchased. Teachers Credit Union moves into temporary accommodation in the Parramatta office. 1974 1974 Term Savings account and Bill Paying Service are introduced. 1975 1975 Teachers Credit Union begins the process of converting to a fully online system of computerised accounts. 1976 1976 New Homebush office at 87 Parramatta Road and cash withdrawals are introduced. 1977 1977 A travel advisory service and legal advisory service are introduced. 1979 1979 First in-house computer system introduced through Financial Computing Services which was a partnership with the NSW Credit Union League (NSWCUL) and General Computing Services (GCS). 1980 1980 Teachers Credit Union controls $3 million in payroll deductions fortnightly, has $30 million in savings, has issued $100 million and has almost 35,000 members. It is the largest credit union in Australia and every school in NSW has a Teachers Credit Union voluntary representative. 1981 1981 Teachers Credit Union employs fifty full-time and three part-time employees. 1982 1982 Redi-Access Network is introduced, whereby Teachers Credit Union members can use other credit unions to deposit and withdraw funds. 1984 1984 Rooty Hill office opens for business. 1985 1985 Chequebooks and POS technology are introduced. 1987 1987 Teachers Credit Union savings are $226,762,478 and membership reaches almost 60,000. 1988 1988 The office extension is completed and the main entrance now faces Powell Street. 1989 1989 For the first time, Teachers Credit Union issues $1 million worth of loans in one day. 1991 1991 Teachers Credit Union passes the $1 billion mark in loans to members and is the largest credit union in Australia, with 65,448 members and deposits of more than $276 million. 1992 1992 Teachers Credit Union first fixed interest home loan and cash advances are introduced. 1993 1993 Teachers Credit Union signs up its 70,000th member. 1995 1995 Teachers Car Buying Service locates its 1,000th vehicle and the Phone a Loan service is introduced. 1996 1996 Fax a Loan service, loans for first time home buyers and Mini Fairs are introduced. 1997 1997 Teachers Credit Union launches stage one of its website. 1999 1999 Teachers Credit Union members gain access to the giroPost network. 2000 2000 Stage two of the website rolls out, providing access to twenty-four-hour home banking facilities. 2002 2002 Teachers Credit Union reaches $1 billion in assets. 2003 2003 Teachers Credit Card is introduced. 2004 2004 Membership stands at more than 122,000 and assets are over $1.3 billion. 2005 2005 Stuart Gillies resigns and Steve James is appointed chief executive. 2006 2006 Teachers Credit Union contributes 3 per cent of after-tax surplus towards social responsibility. 2008 2008 Teachers Credit Union achieves a 93 per cent satisfaction rating from its members, surpasses $2 billion in assets and introduces the Teachers Environment Fund 2009 2009 Teachers Credit Union introduces its Credit Assistance service and a $5 account keeping fee 2010 2010 Teachers Credit Union drops NSW from its title to become Teachers Credit Union and returns to pre-GFC profit levels. payWave and the first phase of the mobile banking app are introduced. 2012 2012 Teachers Credit Union changes its name to Teachers Mutual Bank. 2013 2013 Membership sits at 157,765 and TMB’s asset base is $4.1 billion and TMB wins three Money magazine awards: Cheapest Credit Card (bank), Best Transactor Credit card (bank) and Cheapest New Car Loan (bank). 2014 2014 Asset base reaches $4.4 billion and membership increases to 161,898. 100 per cent mortgage offset facility is introduced across all home loan products and TMB is named one of the World’s Most Ethical Companies by the Ethisphere Institute. 2015 2015 Introduces the Mature Age Worker Program and an asset base of $4.86 billion with 166,046 members. 2016 2016 Teachers Mutual Bank is named the 2015 Roy Morgan Bank of the Year and celebrates its fiftieth year of operation. Watch history unfold 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.