Built for teachers. Owned by teachers.
Member-owned from day one
More than 60 years ago, a group of teachers came together with a powerful idea: if they pooled their money and backed one another, they could build a fairer kind of bank. One that understood their lives. One that put people before profit.
From that belief, a small credit union was born – one that has grown into today’s Teachers Mutual Bank, one of Australia’s largest member-owned banks. Today, alongside Australian Mutual Bank, Health Professionals Bank, Firefighters Mutual Bank and UniBank, we serve over 280,000 members across education, healthcare and emergency services.
We’re proudly member-owned. That means we don’t answer to external shareholders. We answer to educators and their families – the people who are part of the bank and rely on it every day.
Good rates are just the start
Save on fees
$0 monthly fees on savings and transaction accounts, so more of your money stays yours.
Better terms
Home loan assessments with no minimum employment period required for permanent and regular part-time teachers.
Real people
Mobile bankers who meet you at work, at home or over the phone, plus an Australian-based call centre, staffed by people who take the time to listen.
Real support
Pause-for-cause repayment relief when you need it most, including during parental leave.
The power of mutual banking
You own us
When you join as a member, you don’t just bank with us – you own a share of the bank. One member. One equal share.
Your voice counts
As a member, you have a say. You get to vote on key decisions and help shape the future of Teachers Mutual Bank.
We invest in you
Because we don’t pay dividends to external shareholders, we put profits back where they belong – into better rates and improved products and services for members.
We invest in what matters to you
Supporting teachers goes beyond banking. Our profits also help fund scholarships, grants and programs that back teachers to develop, grow and lead.
We bank responsibly
As a certified B Corporation1, we’re committed to responsible banking. That means we don’t lend to industries that harm people or the planet - including fossil fuels, tobacco or gambling.
And it all comes full circle
Members’ savings help fund loans for other teachers. Their repayments strengthen the bank and support members in return. Instead of flowing to outside investors, money stays within the teaching community – creating a virtuous cycle that benefits everyone.
Money Magazine's Customer-Owned Institution of the Year 2025
Teachers Mutual Bank has been named Money Magazine's 2025 Customer-Owner Institution of the Year. It's recognition for putting our members first. We are proud to provide products tailored specifically for teachers and a service that goes above and beyond. Because when it comes to backing teachers, only Teachers Mutual Bank makes the grade.
Joining is easy
Eligibility criteria
-
Be an Australian citizen or permanent resident.
-
Be either:
- Employed in, or retired from, the education sector.
- Studying or have graduated from an Australian university in education.
- Immediate family of a Teachers Mutual Bank member.
Not sure if you can join? Let’s talk.
What you need to apply
- An Australian residential address.
- Identification documents with your full name, date of birth and address, such as a birth certificate or driver’s licence or passport, and Medicare card.
- Tax File Number.
If you’re setting up an account for a child, here’s what you need to know:
Quick tip: To open a membership or account for a child, parents or guardians must already be members of the Bank.
For children under 13
- As the child’s parent or legal guardian, you’ll need to open the account for them.
- You’ll need to provide the child’s birth certificate or passport.
- The child can’t be an account signatory yet — but once they turn 13, they can.
- When they turn 18, they will become responsible for managing their own account.
For children aged 13–17
- The account can be opened by a parent or guardian or by the child themself.
- If the child is opening the account, they’ll need to show either a birth certificate or a passport.
- Children 13 and older can be added as a signatory, as well as parents and guardians.
- When they turn 18, they will become responsible for managing their own account.
Earn up to ~MSA_PUT_250000_Combi~
Deposit $100 or more and make no withdrawals each month to get your bonus rate2,3.
REACH YOUR GOALS FASTER WITH MOMENTUM SAVER
Deposit $100 or more and make no withdrawals each month to get your bonus rate2,3.
- 58 is correct as of 2 June 2025. Deposit Bank – Developed Capital Markets as defined on bcorporation.net
- Deposits over $5,000,000 (in aggregate across all your savings accounts) are subject to acceptance at the bank's discretion. The interest rate(s) applicable are dependent on the relevant interest rate tier(s) based on account balance.
- Bonus Interest - Bonus interest is earned for each month you deposit a minimum of $100 and make no withdrawals during the calendar month, and the account has a credit balance. Deposits must be made into your Momentum Saver account before 5pm Sydney time on the last day of the month.