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With over 200,000 members and more than $7 billion in assets, Teachers Mutual Bank Limited comprises four brands: Firefighters Mutual Bank, Health Professionals Bank, Teachers Mutual Bank and UniBank. It is a market leader in member advocacy in the Australian banking sector, and is committed to strong standards of corporate responsibility through community investment and ethical business as one of the World’s Most Ethical Companies.
As a mutual organisation, Teachers Mutual Bank has members rather than customers. However, with its focus on the education sector, membership is not open to all. Members must be citizens or permanent residents of Australia who are current or retired employees of the Australian education sector, or family members of members of the bank.
But with this exclusivity comes a full understanding of what its members need, allowing the bank to focus on the kind of products and services that best benefit those in the education sector. While its members dedicate their precious time to their students, shaping the future generations, Teachers Mutual Bank dedicates its time to helping those members achieve their own dreams in life.
It’s no secret teachers lead busy lives. And so, the bank has committed to providing a better banking experience that’s convenient to its members. From Business Relationship Managers who come to members’ schools or Mobile Lenders who meet members at a time and place that suits them, Teachers Mutual Bank provides the tools members need to move forward with their financial goals, working around their so-often busy days.
Competitive Products: As a mutual, Teachers Mutual Bank is in a position to re-invest profits to benefit members, providing them with financial products and services that have lower fees and better rates. Members can also access a number of products that are created specifically to benefit those in education, such as new teachers, over 50s and relief teachers.
Access: Members of Teachers Mutual Bank can enjoy access to their account whenever and wherever it suits them, thanks to the bank’s new mobile app, and compatibility with Google Pay, Apple Pay and Samsung Pay. Members also have access to ATMs worldwide, and in the case of the bank’s credit card, access to Visa’s extensive network around the globe.
Investing in the Education Sector: Helping members by building a stronger community within the workplace, Teachers Mutual Bank also invests profits in the education sector.
Teachers Mutual Bank started its journey with a foundation based on partnership, education, strength, commitment, integrity and sustainability. Over the years, the bank has seen many changes in the banking industry, which while making it braver, bolder and more competitive, have not caused it to lose its core values. These are:
Advocacy: Teachers Mutual Bank offers products and services that have been carefully designed to be relevant for teachers. Why? This is a bank that wants to be there for its members through every step of their financial journey, making the most of every dollar they earn to help them reach their financial goals.
Passion: Teachers Mutual Bank is passionate about being the best of the best. As a team, those who work at the bank are committed to putting members first, and are eager to deliver exceptional service and products for teachers, their families and employees in the education sector.
Sustainability: Teachers Mutual Bank is also committed to doing what’s right. That covers everything from how it runs its business and how it relates to its members, to how it treats the environment. Striving to provide a better future for its members and the wider community, the bank is dedicated to employing ethical staff, delivering product innovations, and working on initiatives to help the community, schools and the environment.
To apply for a credit card with Teachers Mutual Bank, you must become a member. To become a member, you must be an Australian citizen or permanent resident aged 18 or over, and you must be a current or retired employee of the Australian education sector, or a family member of a member of the bank.
If you fit that description, why not check out the bank’s credit card offering: the Teachers Mutual Bank Credit Card. Click on the card’s page to find all the need-to-know info and our review of everything it has to offer.
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