Teachers Mutual Bank awarded Gold for CSR against international heavyweights Talk to us Phone us Email us Breadcrumbs Teachers Mutual Bank Community 2013 Teachers Mutual Bank awarded Gold for CSR against international heavyweights 18 April 2013 18 April 2013 Teachers Mutual Bank awarded Gold for CSR against international heavyweights Teachers Mutual Bank (TMB) has leapt up the international CSR ladder, jumping from Bronze to Gold status in the prestigious annual Corporate Responsibility (CR) Index published on April 17th in the Financial Times in London. Achieving Gold status with a score of 90%, Teachers Mutual Bank significantly increased its rating from its previous bronze status of 79% in 2012. Teachers Mutual Bank – relatively small by comparison – has achieved one of the highest of CSR accolades against heavyweight international CR Index member competition that includes Barclays Bank, the BBC, Zurich, Marks and Spencer. Steve James, CEO of Teachers Mutual Bank, said: “As a small Australian financial institution competitively benchmarked against large global companies, we’re punching well above our weight, not only in the finance sector but against all sectors. Achievement of Gold status shows that we are a responsible business and that, for us, CSR is built-in, not bolted on.” “As a mutual bank, we believe that profit has a purpose. In the past 12 months, we’ve continued to improve our organisational performance to become a national and international leader in sustainability. We are honoured to receive such a high accolade for our effort.” Key results We moved from Bronze (79%) to Gold (90%). We received a perfect score in 72 % of our answers, and in the 15 main categories, more than half of our scores (8) were higher than the entire 107 Member CR Index. We received a perfect score of 100% for Corporate Strategy, which “rewards companies for placing Corporate Responsibility values at the core of their business strategy” and that “companies must be able to demonstrate leadership and commitment at the highest level”. We excelled at Community and Environmental issues. In these areas we got our highest scores and we also outperformed both sector benchmark averages for our Teachers Environment Fund (93%) and Community Management (96%) and Community Investment (98%). We scored 85% in the Environment Index Performance. View Teachers Mutual Bank CRI report card About the CRI Developed in the UK, the CR Index is one of the world’s leading and most in-depth voluntary benchmarks of corporate responsibility for business. The CR Index follows a systematic approach to managing, measuring and reporting on business responsible business practices. For more on the CR Index http://www.bitc.org.uk/ CR Index sections TCU1 score in April 2012 TMB score in April 2013 TMB change to 2013 CRI all 107 companies average score Corporate Strategy 81 100* 23% 96 Integration 79 93* 18% 92 Management Practice 83 90 8% 91 Impact areas 77 86 12% 86 Management area Community Management 94 96* 2% 94 Environment Management 70 82 17% 94 Marketplace Management 71 90* 27% 87 Workplace Management 96 92* -4% 90 Performance & Impact: Environment Impact Areas Impact Area: Climate Change 60 75 25% 92 Impact Area: Waste Management 65 74 14% 83 Self-selected Impact Area: Indirect Impact ( TEF) 93 93* 0% 89 Performance & Impact: Social Impact Areas Impact Area: Corporate Wellness and Engagement 67 82 22% 80 Impact Area: Employee Development 99 93* -6% 90 Impact Area: Community Investment 78 98* 26% 87 Disclosure 20 20 0% 83 Total Score(%) 79 90 14% 90 Environmental Index Performance (%) 74 85 15% 1. TCU was the former name for Teachers Mutual Bank - Teachers Credit Union (TCU). *Issue where TMB scored higher than the CRI 107 member index and the finance sector average. Back to top.