Can a bank be for good? We think so: Teachers Mutual Bank Limited launches 2025 Banking for Good report
Teachers Mutual Bank Limited has released its 2025 Banking for Good report, highlighting the bank’s sustainability credentials and ongoing commitment to supporting its community.
Owned by its members and as a mutual bank, being sustainable and giving back to its communities is core to the bank’s ethos.
CEO Anthony Hughes emphasised, that the bank’s approach to sustainability and community engagement is founded on external, independent third-party certification and assessments of its performance.
“Our purpose is banking for good, for those who do good. For a decade, well before it was commonplace in the Australian financial sector to do so, we have proactively embedded sustainability into our core business,” Mr Hughes said.
“Significant milestones include achieving B Corp Certification in 20221 and being the only bank to be named as a Responsible Investment Leader by Responsible Investment Australasia four times2.
“Teachers Mutual Bank Limited has a longstanding heritage of supporting the professions and communities that support us, we have a deep history of empowering the education, health, and emergency services sectors. I have great pride in the range of scholarships, bursaries, and mentorship programs our bank supports to empower students and professionals in these essential industries.”
The report details the bank’s B Corp Certification, Responsible Investment Leader and certified responsible investment products credentials3, climate change actions, and details the community partnerships and support provided to teaching and nursing students through scholarships and bursaries.
In continuing its efforts to creating a sustainable future, the bank has a B Corp Certification score of 102.41—recorded in January 2022 and well above the Australia and Aotearoa New Zealand B Corp average score of 964 — and is aiming to improve this performance score during recertification which is currently underway. This year the bank will also commence its Innovate Reconciliation Action Plan.
“I am proud of the impact we have made — and continue to make — in creating a sustainable future and supporting those professions and communities that support us.”
1. www.bcorporation.net/en-us/find-a-b-corp/company/teachers-mutual-bank-limited
2. 2021-2024; responsibleinvestment.org/resources/benchmark-report Responsible Investment Leaders are recognised by the Responsible Investment Association Australasia (RIAA). RI leaders are named in the RIAA Benchmark report Benchmark Report
3. Wholesale DIP, Short Term Deposits and the Retail mortgages and deposits have been certified by RIAA according to the strict operational and disclosure practices required under the Responsible Investment Certification Program. See responsibleinvestment.org for details. The Responsible Investment Certification Program does not constitute financial product advice. Neither the Certificate Symbol nor RIAA recommends to any person that any financial product is a suitable investment or that returns are guaranteed. Appropriate professional advice should be sought prior to making an investment decision. RIAA does not hold an Australian Financial Services Licence. www.responsibleinvestment.org
4. bcorporation.com.au Unpacking the ‘B Impact Score’ – what it is and why is matters, 6 July 2022, accessed 30 January 2025