Our proposed merger with Australian Mutual Bank Limited

FAQs

In bringing the two trusted banks together, it would create one of Australia’s largest customer owned banks an organisation

  • Frequently asked questions

    Why are you proposing to merge?

    Success in the banking sector is dependent on the ability to rapidly adapt, meet evolving customer expectations, and new regulatory demands. Smaller organisations can be at a disadvantage in keeping pace with required investment in frequent and complex technology advancements.

     

    Across the mutual bank sector, industry consolidation has occurred at pace, over the past decade the number of mutuals has halved, in fact; in the last four years, eight of the top 10 mutuals have either merged, or announced intentions to merge.

     

    A merged entity would benefit from the shared capabilities of both brands, investment and technology investments, allowing us to continue to be a genuine alternative to the major banks.

     

    What are the impacts of the merger on my account details?

    Should the merger be approved, over time as integration is completed there may be some changes to accounts. We will work to minimise the impact to customers and commit to keeping you informed.

    Will I be able to bank in an Australian Mutual Bank branch?

    In the longer term, yes, that is our intention, however this will take time.

    Will I still be a member of Teachers Mutual Bank Limited if the merger proceeds?

    Yes. The merger will not change the rights and liabilities of Teachers Mutual Bank Limited’s members.

    What is the impact of the proposed merger on employees?

    The combined organisation will offer broader career opportunities for our people and there will be no forced redundancies as a result of the merger.

    Is this a demutualisation of Teachers Mutual Bank Limited?

    No. The proposed merger will not trigger a demutualisation. The merged entity will continue to be 100% owned by its members and each member will continue to have one vote.

    What will be the corporate name of the merged entity?

    Teachers Mutual Bank Limited.

    What brand will the merged entity operate under? / What is happening to the Australian Mutual Bank brand?

    Upon merging, the Australian Mutual Bank Limited brand will be retained alongside the Teachers Mutual Bank Limited retail brands (Teachers Mutual Bank, Health Professionals Bank, Firefighters Mutual Bank, UniBank, and Hiver).

    When will members be asked to vote?

    If, following due diligence, both Boards decide to recommend a merger, members of both banks will be asked to vote on the proposed merger.

    It is expected a vote will be held during 2026. Members will be provided an information pack ahead of being asked to vote.

    Will this affect Teachers Mutual Bank Limited B Corporation commitment?

    Both Teachers Mutual Bank Limited and Australian Mutual Bank Limited currently have B Corporation Certification. The merged entity will maintain this commitment.

    How will the Board be composed?

    The merged Board will include the Board of Teachers Mutual Bank Limited and two representatives from the Australian Mutual Bank Limited’s Board.

    Who will be the CEO?

    The CEO of Teachers Mutual Bank Limited, Anthony Hughes will be the CEO of the merged entity.

    Does the merger need regulatory approval?

    Yes.  The proposed merger requires approval from regulators including the Australian Prudential Regulation Authority (APRA), ASIC, ATO and the Federal Treasurer.