Teachers Mutual Bank recognised as a world ethical leader for fourth year in a row

• Named one of the  ‘2017 World’s Most Ethical Companies’
• Teachers Mutual Bank Ltd 1 of only 3 banks named
• Announced at the 9th Annual Global Ethics Summit in New York

Teachers Mutual Bank Ltd has again been named as a ‘World’s Most Ethical Company’ by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. The recognition includes both Teachers Mutual Bank and UniBank.

"We are proud to be named one of the World’s Most Ethical Companies for the fourth year in a row – it’s a very high standard to meet.”  said Steve James, CEO of Teachers Mutual Bank.  “To be one of only three banks recognised as a World’s Most Ethical Company, tells us we are achieving our aim of setting the standard for ethical practices in banking. We believe business should be driven by ethics and purpose, and our performance shows that we  continue to deliver  on our values.”  

This year, 124 companies were designated as World’s Most Ethical Companies from 52 industry sectors headquartered in 19 countries.  Examples of our leading ethical business practise include; 

• Recognised as 2016 Employer of Choice for Gender Equality by the WGEA. We are one of 106 organisations that are championing gender equality among their workforce. 
• Issued a $100m ethical bond - an Australian banking first. It is the first certified ethical investment wholesale cash product in Australia, and the first based on fossil fuel lending and investing exclusion. 
• Exceeded the ASX average of the % of females at all leadership levels; 44% of our Board members, 25% of our Executive team and 38% of Management were women.
• Achieved global leadership in community investment, for the 5th year in a row with an investment of 5.39% of pre-tax profits (5.39% NPBT, equal to 7.98% NPAT). As measured by the London Benchmarking Group this is 10 times the Au&NZ average, 17 times the Au&NZ finance/insurance sector average, and 5 times the international average.ⁱ  
• Scored an employee satisfaction rating of 83%, employee engagement of 82%, staff retention rate of 92%, and 85% of our employees would recommend Teachers Mutual Bank as a good place to work.ⁱⁱ 
• Consistently achieved a member satisfaction score of 90% or higher, based on the monthly Roy Morgan Research Consumer Banking Satisfaction Survey.ⁱⁱⁱ  
• Invested $60,000 to the CUFA Cambodia Financial Literacy Project to help provide education programs to 10,000 primary school children at 40 schools. 
• Maintained status as a carbon neutral bank for the 5th year in a row.^iv 
• Achieved net zero buildings with a $450,000 investment in 612 solar panels and 1,826 LED lights. Two buildings export solar power to the grid.^v 
• Introduced mandatory Sustainability training for all employees.
• Named Best Bank in Socially Responsible Performance (ESG) for the 2nd year in a row at the 2016 Australian Retail Banking Awards.^vi  

About the WME 

The Ethisphere Institute is the global leader in defining and advancing the standards of ethical business practice. The World's Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient (EQ) framework and honours superior achievements in transparency, integrity, ethics and compliance. Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%).  The 2017 award includes Unibank. UniBank is a division of Teachers Mutual Bank Ltd, a 2016 World’s Most Ethical Company. www.ethisphere.com. 

About Teachers Mutual Bank

For over fifty years Teachers Mutual Bank has provided key banking services to Australian educators. Now, Teachers Mutual Bank Limited is one of Australia’s largest mutual banks, comprising three brands: the original Teachers Mutual Bank, UniBank, and Firefighters Mutual Bank with  over 186,000 members and more than $6 billion in assets. Teachers Mutual Bank continues to be passionate about assisting members secure their financial futures through superior member support and banking products.