Our proposed merger with Australian Mutual Bank Limited
Proposed merger
On this page you can learn more about our proposed merger with Australian Mutual Bank Limited
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On this page you can learn more about our proposed merger with Australian Mutual Bank Limited.
As a member of Teachers Mutual Bank Limited, in 2026 we’ll ask you to vote on the proposed merger to bring together two of Australia’s trusted banks to create one of Australia’s largest member owned banks.
We’ll update this page as we have new information to keep you informed.
Benefits of the proposed merger
In bringing the two trusted banks together, it would create one of Australia’s largest customer owned banks an organisation with $13.4 billion in total assets, almost 300,000 members, 750 employees and an expanded branch footprint.
Combining the financial strength of both banks increases scale and provides a platform for strong investment in enhanced products and services, modern technology, safety and security, and digital banking services.
Together, the merged bank has given the commitment for enduring support to the industries and communities that support it, through sponsorships, scholarships and other community partnerships.
Mutuality
We will remain 100% customer-owned
More branches
The same number of branches will be retained, giving members increased access to face-to-face services
For our people
Our combined 750 people will have broader career opportunities and there will be no forced redundancies as a result of the merger
For our members
Our combined financial strength will increase investment in member service, modern technology, and safety and security.
Familiar
Upon merging, the Australian Mutual Bank brand will be retained
Supporting our communities
We will continue to support the industries and communities that support us through sponsorships, scholarships, and other community partnerships. The merged bank would also continue Australian Mutual Bank Limited’s participation in the Australian Mutual Foundation. The merged bank will also continue to support the Australian Mutual Foundation.
Profit for purpose
We will operate as profit for purpose, retaining our B Corporation Certification.
Award-winning service
We will continue to offer and deliver the great service you know and trust.
What’s next?
Completion of the merger remains subject to due diligence, approval by regulators and our members. Subject to these approvals, target completion date for the merger is 2026.
About Australian Mutual Bank Limited
Australian Mutual Bank Limited has been providing banking, loan, and investment services to the community since 1953. It serves 60,000 members, has total assets of $1.84 billion, and 150 employees. The bank aims to be its members’ first choice for the provision of banking services, and is a proud supporter of its local community and the Australian Mutuals Foundation.