Teachers Mutual Bank
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Teachers Mutual Bank Limited (formerly the New South Wales Teachers Credit Union) is one of the largest mutual banks in Australia, with more than 200,000 members and assets of over $8 billion. Membership is primarily open to serving retired teachers, university students undertaking education degrees and diplomas that will qualify them as registered school teachers, other employees in the Australian education sector, and immediate family members of people who fit the primary criteria. As a mutually owned institution, each member (account holder) holds one equal share in the organisation and all profits are intended to be returned to members by way of lower fees and interest rates than those available from commercial banks and other for-profit financial institutions. Initially formed in 1966 as the New South Wales Teachers Credit Union, with membership restricted to public (state) school teachers in New South Wales, the membership of Teachers Mutual Bank is today spread across
New South Wales ) , nickname = , image_map = New South Wales in Australia.svg , map_caption = Location of New South Wales in AustraliaCoordinates: , subdivision_type = Country , subdivision_name = Australia , established_title = Before federation , es ...
, the
Australian Capital Territory The Australian Capital Territory (commonly abbreviated as ACT), known as the Federal Capital Territory (FCT) until 1938, is a landlocked federal territory of Australia containing the national capital Canberra and some surrounding townships. I ...
,
Western Australia Western Australia (commonly abbreviated as WA) is a state of Australia occupying the western percent of the land area of Australia excluding external territories. It is bounded by the Indian Ocean to the north and west, the Southern Ocean to th ...
,
South Australia South Australia (commonly abbreviated as SA) is a state in the southern central part of Australia. It covers some of the most arid parts of the country. With a total land area of , it is the fourth-largest of Australia's states and territories ...
and the
Northern Territory The Northern Territory (commonly abbreviated as NT; formally the Northern Territory of Australia) is an Australian territory in the central and central northern regions of Australia. The Northern Territory shares its borders with Western Aust ...
. Having always had a highly decentralised membership (their teacher members working in schools spread across the state), the bank was an early innovator in providing banking services with telephone and, later, internet banking. It currently maintains six core branches; three located in Sydney (one being the head office) and one in each of the Hunter Region, the Australian Capital Territory and Western Australia. The head office branch is located at
Homebush Homebush is a suburb in the Inner West of Sydney in the state of New South Wales, Australia. It is located 12 kilometres west of the Sydney central business district, in the local government area of the Municipality of Strathfield. The name of ...
on
Powell Street Powell Street is a street in San Francisco, California that connects from Market Street through Union Square, North Beach, Nob Hill, Russian Hill and ends at Fisherman's Wharf. The intersection of Powell Street with Market Street is the sta ...
in Sydney's inner western suburbs. Since mergers with two credit unions in 2015-16,UniBank
Our story
Retrieved on 2 May 2017.
Teachers Mutual Bank
Teachers Mutual Bank to merge with Fire Brigades Employees Credit Union
Retrieved on 2 May 2017.
three divisional branches exist in Perth (trading as UniBank) and one in Sydney (trading as Firefighters Mutual Bank). Teachers Mutual Bank is a long-standing supporter of many education programs and has made a significant contribution to public education in New South Wales. This support extends across a broad range of educational programs including sport, the arts, conferences and workshops as well as significant activities and events at all levels of the school system.


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Teachers Mutual Bank Limited
{{DEFAULTSORT:Teachers Mutual Bank Banks of Australia Credit unions of Australia 1966 establishments in Australia Banks established in 1966 Financial services companies based in Sydney Teaching in Australia