Teachers Mutual Bank
Teachers Mutual Bank scores very highly in terms of customer service and satisfaction. You can expect this to continue given their customer ownership structure which means they are not in it to make a profit or grow a significantly large business.
Facts and lender background
Teachers Mutual Bank Limited (formerly the New South Wales Teachers Credit Union) is one of the largest mutual banks in Australia, with more than 170,000 members. The New South Wales Teachers Credit Union was formed in 1967.
Teachers Mutual Bank has over $6 billion of assets.
Teachers Mutual Bank is rated BBB by S&P. The Australian Government's guarantee on deposits under the Financial Claims Scheme applies to deposits held with Teachers Mutual Bank.
Teachers Mutual Bank is mutually owned by its customer members. Teachers Mutual Banks owns the Firefighters Mutual Bank, UniBank and Health Professionals Bank brands.
Teachers Mutual Bank is almost entirely funded by retail deposits.
Product Review Rating
average is 2.1 / 5
Teachers Mutual Bank operates 11 branches across Australia. You are able to transact at more than 3,200 Australia Post outlets that display the Bank@Post sign. This provides you with real-time deposits and the ability to draw cash.
Customers are able to access their accounts online.
Customers can withdraw cash free of charge from any of the major banks ATMs.