Annual Report and Sustainability Update 2016-2017 Teachers Mutual Bank Limited Contents

Total Page:16

File Type:pdf, Size:1020Kb

Annual Report and Sustainability Update 2016-2017 Teachers Mutual Bank Limited Contents Teachers Mutual Bank Limited Annual Report and Sustainability Update 2016-2017 Teachers Mutual Bank Limited Contents Our vision To be the largest, most successful and respected Australian mutual bank primarily focused on serving the Australian education sector and other niche markets in the professional and essential services sector. Contents Key financial performance 02 Chairperson and Chief Executive Officer’s report 04 Members 06 Employees 10 Sustainability 12 Community 14 Environment 16 Sustainability KPIs and targets 18 Directors’ report 28 Auditor’s independence declaration 32 Financial statements and notes 33 Statement of comprehensive income 34 Statement of changes in member equity 35 Statement of financial position 36 Statement of cash flows 37 Notes to the financial statements 38 Directors’ declaration 83 Independent auditor’s report 84 Annual Report and Sustainability Update 2016-2017 1 Financial Performance Key Financial Performance Our focus is to maintain sustainable growth to ensure we provide competitive products and services to enable our members to secure their financial future. Capital adequacy ratio Membership Capital adequacy is a ratio which protects depositors Membership refers to all shareholders that are eligible to and investors by indicating the strength of an institution. join under the common bond. We are well above APRA’s minimum requirement of 8%. 15.98% 15.85% 15.72% 15.74% 15.09% 191,415 177,357 166,046 157,765 161,898 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Profit after income tax Loan balances Profit after income tax1 is the amount of money we Loan balances is the total of money owed to us by our generate from operating our products and services members from personal loans, secured (home) loans, minus the cost of providing those products and services, credit cards and overdrafts. including all taxes. $5,476,770,660 $30,212,047 $29,781,877 $28,098,211 $27,877,584 $4,595,064,694 $25,805,683 $4,077,415,960 $3,685,371,474 $3,354,473,152 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 1 Parent (Bank) – not consolidated group. 2 Teachers Mutual Bank Limited “We achieved a healthy net profit of $27.7 million after tax, and maintained a high capital adequacy ratio at 15.09%, comfortably above prudential requirements. Our capital reserves increased to $492.2 million and our asset base grew by 20.6% or $1.2 billion, to $6.7 billion.” Return on assets Reserves Return on assets measures how profitable a company Reserves are accumulated profits held by us to ensure is relative to its total average assets and shows how our ability to safely grow. efficiently a company uses its assets. 0.72% 0.64% 0.61% 0.58% 0.46% $492,226,302 $437,098,930 $396,137,919 $364,987,639 $341,273,773 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Assets Member deposits Assets are the total of all Teachers Mutual Bank Member deposits are made up of savings, investments Limited assets. and shares, excluding interest accrued. $5,294,128,446 $6,682,013,296 $4,550,804,608 $5,542,509,266 $3,975,178,055 $4,862,320,334 $3,579,079,484 $3,388,746,104 $4,394,472,040 $4,088,611,686 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Annual Report and Sustainability Update 2016-2017 3 Chairperson and CEO’s Report Chairperson and Chief Executive Officer’s Report Teachers Mutual Bank Limited continued to reach milestones in 2017, growing to more than $6.6 billion in assets, and completing another successful merger. In a year that saw us merge with Our capital reserves increased to $492.2 Firefighters Mutual Bank and expand million and our asset base grew by 20.6% our national footprint by opening a or $1.2 billion, to $6.7 billion. multi-brand office in Brisbane, we can A significant contributor to this growth confirm that our multi-brand strategy is was our continued success in growing our maturing successfully. home loan portfolio, which now stands The UniBank brand has demonstrated at $5.2 billion, up by 20.6% from last year. strong home loan growth during the The financial year saw a record number of last year, and has recently undergone home loans secured through our home a refreshing rebrand which reflects its loan broking channel which complements university focus and innovative appeal. the strong results from our mobile lending Our merger in November 2016 with the team. In keeping with our pledge in last NSW-based Fire Brigades Credit Union, year’s Annual Report to invest further now known as Firefighters Mutual Bank, resources in third party loan brokering, we saw us welcome their staff and over seven now have a network of 11 aggregators and thousand members of the extended almost 2,800 accredited brokers, up from firefighting community to our Teachers 2,000 last year. Mutual Bank Limited family. Rigorous regulatory conditions continued to As the mutual banking sector continues to prevail in 2016-2017, with investor lending consolidate, we will look for opportunities remaining in the spotlight and a new focus to partner with like-minded institutions on interest-only lending. We continue to to build scale and financial strength. Our maintain our levels of investor property strength and stability as a large mutual lending within the regulator’s expectations. bank means that we are better placed to Our service to our members is the withstand the pressures of the continuing cornerstone on which we have built our low interest rate environment, technology reputation. We are pleased to report that developments and uncertain economic we continued to be among the highest conditions in our economy and worldwide. scoring banks in the nation in the Roy Despite these market challenges, we Morgan Research monthly bank customer are pleased to report that we continued satisfaction surveys throughout the last year. to thrive over the 2016-2017 financial Further industry recognition came from year and strengthen our presence in the the Australian Retail Banking Awards, financial sector. We achieved a healthy when we were named 2017 ‘Mutual of the net profit of $27.7 million after tax, and Year’. This is the first time we have won this maintained a high capital adequacy award, and we take pride in being named a ratio at 15.09%, comfortably above leader among our fine peers in the mutual prudential requirements. banking sector. Thanks to our skilled and experienced Awards like these can only be achieved Board of Directors and management when an organisation has all the right team, excellent control of expenses was ingredients to achieve high performance maintained during a year in which we and a leading reputation: a dedicated conducted a successful merger. Board; talented employees; an innovative 4 Teachers Mutual Bank Limited can-do approach; strong technical performance; and a great For 51 years we have been dedicated to one purpose – sense of community. These have all helped to shape us into assisting our members to build wealth and enjoy financial the successful, award-winning institution we are today. wellbeing throughout their lifetime. Our members are the One of our key values is sustainability, and you can read reason we exist and we are honoured to serve you. about our performance in the detailed sustainability Thank you for choosing Teachers Mutual Bank, UniBank or section in this Report. It is nevertheless noteworthy Firefighters Mutual Bank as your financial services provider. that again in 2017, for the fourth year running, Teachers Mutual Bank Limited has been named one of the World’s Most Ethical Companies, one of only three banks in the world to achieve this. We have continued to invest heavily in technology, not only to provide technical innovations such as Apple Pay and John Kouimanos Steve James Android Pay to our members, but also to ensure that our Chairperson Chief Executive Officer data and member records remain secure and protected against the ever-evolving threat of cyber fraud. Annual Report and Sustainability Update 2016-2017 5 Members ` Growing We put members’ membership Firefighters Mutual Bank has joined our family, bringing the needs first total membership of Teachers Mutual Bank Limited to We help our members to build strong financial over 191,000. futures by providing award-winning competitive ` Member satisfaction products and exceptional, customer-focused service. Consistently above 90% across Teachers Mutual Bank Limited. Named ‘Mutual of the Year’ at the 2017 For more than 51 years we have been efficiency, and friendly, helpful staff are Australian Retail serving employees in the education the main reasons why our members rank Banking Awards. sector – people who have devoted us so highly. themselves to the care and education of ` Digital innovation Apple Pay, Android others, and who deserve the same care Banking accessibility Pay, Samsung Pay and and commitment from their bank. We are constantly striving to make Spriggy introduced. In 2016, we welcomed members of banking easier for our members and New mobile apps Firefighters Mutual Bank into our family. ensure they have access to our services for UniBank and Firefighters Mutual Bank shares our whenever and wherever they need them. Firefighters Mutual commitment to exceptional service, We are working to ensure more of our Bank. ethical practice and community-minded branches are multi-branded, so that behaviour, and we are delighted to ` Convenience UniBank, Firefighters Mutual Bank, and and accessibility be working together to serve more of Teachers Mutual Bank members can New multi-brand Australia’s valued service personnel. As a easily identify their nearest branch. branches for all result of this merger we now have more We understand how hard it can be for members.
Recommended publications
  • S Sh Ow Wc Car Rds S
    Morgan Gallup Poll SSHOWWCCARDS Yoour Opinion Counts Your answers to all questions will be treated in strict confidence and only used for statistical purposess. ACT Rounds: 2448 / 2449 / 2450 / 2451 PAGE 1 ACT ROTATION 4 4/4 x:\systems\database\cards\docs\2500\2080.doc Front page - ACT A 2 ES 2448 / 2449 / 2450 / 2451 PAGE 1 Alfa Romeo Holden Kia Mini Tesla 8501 Giulia 1531 Acadia 7930 Carnival 9545 Cabrio/Convertible 0603 Model 3 8499 Giulietta 1230 Astra 7344 Cerato 9544 Clubman 0601 Model S 8502 Stelvio 1110 Barina 7540 Optima 9540 Cooper/Hatch 0602 Model X 1832 Captiva 7343 Picanto 9541 Countryman Audi Toyota 1886 Colorado 7215 Rio Mitsubishi 8636 A1/S1 4120 86 1512 Commodore Tourer 7347 Rondo 3110 ASX 8696 A3/S3 4121 C-HR 1506 Commodore 7216 Sorento 3201 Eclipse Cross 4320 Camry/Camry Hybrid 8693 A4/S4 3210 Lancer 1602 Equinox 7348 Soul 4200 Corolla 8738 A5/S5 3230 Mirage 1570 HSV (Holden Special 7213 Sportage 4214 Fortuner 8694 A6/S6 Vehicle) 3713 Outlander PHEV 7142 Stinger 4830 Hiace 8727 A7/S7 1112 Spark 3711 Outlander Land Rover 4820 Hilux 8695 A8/S8 1819 Trailblazer 3235 Pajero Sport 9840 Defender 4861 Kluger 8728 Q2 1879 Trax 3860 Pajero 8726 Q3 9831 Discovery Sport 3820 Triton 4950 Landcruiser Honda 8737 Q5 9830 Discovery Nissan 4880 Prado 9721 Range Rover Evoque 4116 Prius C 8735 Q7 7300 Accord 5386 350Z/370Z 9615 Range Rover Sport 4117 Prius V 8699 TT 7303 City 5401 Juke 9611 Range Rover Velar 4115 Prius 7200 Civic 5387 Leaf BMW 9610 Range Rover 4760 RAV4 7840 CR-V 5850 Navara PAGE 2 PAGE 2 8446 1-Series 4730 Tarago 7841
    [Show full text]
  • Annual Report and Sustainability Update 2018/2019
    Annual Report and Sustainability Update 2018–2019 “Our dedication to running an ethical and sustainable institution has been recognised with Teachers Mutual Bank Limited being named one of the World’s Most Ethical Companies for the sixth year running.” Contents Annual Report and Sustainability Update Our mission is to deliver quality financial products and services to workers and their families within the education, emergency services, and health communities. We will do this in an ethical, simple and friendly manner. Key financial performance 02 Chairperson and CEO’s report 04 Members 06 Social Responsibility 10 Community 14 Employees 18 Environment 22 Summary of Sustainability KPIs and targets 26 Directors’ report 28 Auditor’s independence declaration 32 Financial statements and notes 33 Statement of comprehensive income 34 Statement of changes in member equity 35 Statement of financial position 36 Statement of cash flows 37 Notes to the financial statements 38 Directors’ declaration 87 Independent auditor’s report 88 TEACHERS MUTUAL BANK LIMITED Telephone: 13 12 21 | Fax: (02) 9704 8205 Email: [email protected] | Address: 28-38 Powell Street Homebush NSW 2140 | PO Box: PO Box 7501 Silverwater NSW 2128 | ABN: 30 087 650 459 | AFSL/Australian Credit Licence: 238981 | Design: www.frescocreative.com.au 1 Key Financial Performance Our focus is to maintain sustainable growth to ensure we provide competitive products and services to enable our members to secure their financial futures. OVERVIEW Capital adequacy ratio Membership Capital adequacy is a ratio which protects depositors and Membership refers to all shareholders that are eligible to investors by indicating the strength of an institution.
    [Show full text]
  • Australia's Best Banking Methodology Report
    Mozo Experts Choice Awards Australia’s Best Banking 2021 This report covers Mozo Experts Choice Australia’s Best Banking Awards for 2021. These awards recognise financial product providers who consistently provide great value across a range of different retail banking products. Throughout the past 12 months, we’ve announced awards for the best value products in home loans, personal loans, bank accounts, savings and term deposit accounts, credit cards, kids’ accounts. In each area we identified the most important features of each product, grouped each product into like-for-like comparisons, and then calculated which are better value than most. The Mozo Experts Choice Australia's Best Banking awards take into account all of the analysis we've done in that period. We look at which banking providers were most successful in taking home Mozo Experts Choice Awards in each of the product areas. But we also assess how well their products ranked against everyone else, even where they didn't necessarily win an award, to ensure that we recognise banking providers who are providing consistent value as well as areas of exceptional value. Product providers don’t pay to be in the running and we don’t play favourites. Our judges base their decision on hard-nosed calculations of value to the consumer, using Mozo’s extensive product database and research capacity. When you see a banking provider proudly displaying a Mozo Experts Choice Awards badge, you know that they are a leader in their field and are worthy of being on your banking shortlist. 1 Mozo Experts Choice Awards Australia’s Best Banking 2021 Australia’s Best Bank Australia’s Best Online Bank Australia's Best Large Mutual Bank Australia's Best Small Mutual Bank Australia’s Best Credit Union Australia’s Best Major Bank 2 About the winners ING has continued to offer Australians a leading range of competitively priced home and personal loans, credit cards and deposits, earning its place as Australia's Best Bank for the third year in a row.
    [Show full text]
  • The World's Most Active Banking Professionals on Social
    Oceania's Most Active Banking Professionals on Social - February 2021 Industry at a glance: Why should you care? So, where does your company rank? Position Company Name LinkedIn URL Location Employees on LinkedIn No. Employees Shared (Last 30 Days) % Shared (Last 30 Days) Rank Change 1 Teachers Mutual Bank https://www.linkedin.com/company/285023Australia 451 34 7.54% ▲ 4 2 P&N Bank https://www.linkedin.com/company/2993310Australia 246 18 7.32% ▲ 8 3 Reserve Bank of New Zealand https://www.linkedin.com/company/691462New Zealand 401 29 7.23% ▲ 9 4 Heritage Bank https://www.linkedin.com/company/68461Australia 640 46 7.19% ▲ 9 5 Bendigo Bank https://www.linkedin.com/company/10851946Australia 609 34 5.58% ▼ -4 6 Westpac Institutional Bank https://www.linkedin.com/company/2731362Australia 1,403 73 5.20% ▲ 16 7 Kiwibank https://www.linkedin.com/company/8730New Zealand 1,658 84 5.07% ▲ 10 8 Greater Bank https://www.linkedin.com/company/1111921Australia 621 31 4.99% ▲ 0 9 Heartland Bank https://www.linkedin.com/company/2791687New Zealand 362 18 4.97% ▼ -6 10 ME Bank https://www.linkedin.com/company/927944Australia 1,241 61 4.92% ▲ 1 11 Beyond Bank Australia https://www.linkedin.com/company/141977Australia 468 22 4.70% ▼ -2 12 Bank of New Zealand https://www.linkedin.com/company/7841New Zealand 4,733 216 4.56% ▼ -10 13 ING Australia https://www.linkedin.com/company/387202Australia 1,319 59 4.47% ▲ 16 14 Credit Union Australia https://www.linkedin.com/company/784868Australia 952 42 4.41% ▼ -7 15 Westpac https://www.linkedin.com/company/3597Australia
    [Show full text]
  • Teachers Mutual Bank, We Most Ethical Companies Competitive and the Lowest Are a Purpose-Driven Bank, Designation Recognises Those Rate Offered by Us in 40 Years
    Term 2 2015 CONTAct tmbank.com.au to the Term 2 Welcome edition of Contact Welcome back to Term 2, 2015. Mutual Bank is one of three lowest home loan2 rate in Andrew Cosgrove on 40 years. Teachers Mutual I hope you had an enjoyable, honourees in the National [email protected] Banks category and one of Bank has cut rates across all of relaxing break and are looking Best wishes, only two Australian companies its fixed home loan products. forward to the term ahead. honoured overall. The World’s Our 3-year rate is highly At Teachers Mutual Bank, we Most Ethical Companies competitive and the lowest are a purpose-driven bank, designation recognises those rate offered by us in 40 years. ensuring that our profits do organisations that have had Visit tmbank.com.au/home- good in the world. We lead by a material impact on the way loans for more information. Renae Burdack example and are committed business is conducted by Whether you are considering to being a responsible fostering a culture of ethics buying your first home, business, as we believe it’s and transparency at every upgrading to a bigger home, the way business should be level of the company. Being refinancing or investing, a run, and that it should be a second year honouree mobile lender can assist you driven by ethics. underscores Teachers Mutual in finding a loan to suit your We are proud to announce Bank’s commitment to leading budget and requirements. that Teachers Mutual Bank ethical business standards and Should you or the staff at your has been recognised by the practices ensuring long-term school require a visit or some Ethisphere Institute as one value to key stakeholders.
    [Show full text]
  • Fastrefi Approved Lenders
    Electricity Credit Union - now trading as ECU Australia Ltd Encompass Credit Union - now trading as Select Encompass Credit Union Endeavour Mutual Ericsson Credit Union - now trading as First Option Credit Union Ltd Eurobodalla Credit Union - now trading as Horizon Credit Union Ltd FCCS Credit Union Fire Brigades Employees Credit Union - now trading as Firefighters Mutual Bank Fire Service Credit Union Firefighters & Affiliates Credit Co-operative Firefighters Mutual Bank First Choice Credit Union - Orange First Option Credit Union Ltd FASTRefi Approved Lenders Fitzroy and Carlton Community Credit Co-operative Ltd - now trading as Bank Australia Ford Co-operative Credit Society Ltd G & C Mutual Bank Adelaide Bank Gateway Bank Advantage Australian Credit Union - now trading as Credit Union Australia Gateway Credit Union GMH (Employees) Q.W.L Credit Co-operative - now trading as Big Sky Credit (CUA) Union Alcoa Credit Union - now trading as AWA Alliance Bank Goldfields Credit Union - now trading as Goldfields Money Ltd AMP Employees & Agents Credit Union Ltd - now trading as G & C Mutual Bank Goldfields Money Ltd AMP Limited Gosford City Credit Union - now trading as Maritime, Mining & Power Credit Union Ltd ANZ - Australia and New Zealand Banking Group Goulburn Murray Credit Union Co-operative (GMCU) Austral Credit Union Ltd - now trading as People's Choice Credit Union Greater Bank Ltd Australian Central Credit Union - now trading as People's Choice Credit Union Heritage Bank Ltd Australian Country Credit Union Ltd - now trading as Reliance
    [Show full text]
  • Conditions of Use—Accounts and Access
    Conditions of Use Accounts and Access Important information How our Conditions of Use Who we are become binding on you Teachers Mutual Bank Limited ABN 30 087 650 459 AFSL/Australian By opening an account or using an Credit Licence 238981. access facility you become bound by these Conditions of Use. In this document, “the Bank”, “we”, “us” and “our” means Teachers Accessing copies of this document Mutual Bank Limited; and “you” Please keep this document in a safe means a person with one or more place so you can refer to it when of our products or services. needed. Alternatively, you can view Please note: You may not be eligible and download it from our website. for all products and services. The Financial Claims Scheme In the unlikely event that a bank, Customer Owned Banking credit union or building society fails, Code of Practice the Australian Government may activate We warrant that we will comply with its guarantee scheme known as the the Customer Owned Banking Code Financial Claims Scheme (FCS). This of Practice. Please see the section enables account holders to have quick About the Customer Owned Banking access to their deposits which are Code of Practice at the end of these protected under the FCS. Funds are Conditions of Use for more details. protected to a maximum of $250,000 for each account holder per institution. ePayments Code In the case of joint accounts, each account holder is entitled to a maximum We warrant that we will comply with of $250,000. the ePayments Code. Please note that, as stated, the FCS Privacy guarantee is per account holder per institution.
    [Show full text]
  • Teachers Mutual Bank Issues $100M Ethical Bond - an Australian Banking First
    Teachers Mutual Bank issues $100m ethical bond - an Australian banking first Teachers Mutual Bank Ltd (TMBL) issued A$100 million of three-year notes, the first ethical bond from a mutual bank in Australia. TMBL became the first Australian financial institution to have its entire wholesale debt issuance programme ethically certified by the Responsible Investment Association of Australia (RIAA) in August 2015, and became a formally recognised Certified Ethical Bank. The issuance of A$100m three-year notes was at 140 basis points over the three-month bank bill swap rate (BBSW), at the tight end of 140-145 basis points over BBSW price guidance. The bonds were placed domestically to 39 accounts. Fund managers made up 41 per cent, authorised deposit-taking institutions (ADIs) at 38 per cent and middle-market accounts at 21 per cent. “This is the first certified ethical investment wholesale cash product in Australia, and the certification attracted wider investor interest in the bank than we have seen before. A number of ethical themed funds, participated for the first time, although their contribution was not a major proportion of the book. There was no price premium for the ethical aspect of the debt” said Glenn Sargeant, CFO at Teachers Mutual Bank. “The whole premise of our business is to act responsibly and ethically within our mandates. In the end, all of our funding activities should be ethical anyway. Its not just about how we complete our funding objectives but also how we conduct our business”. As a member-owned bank, Teachers Mutual Bank has always had a strong ethical banking and sustainability record.
    [Show full text]
  • A Bank a Bank Is a Financial Institution That Largely Deals with Deposits and Loans for a Variety of Reasons Such a Commercial Or Personal
    A Bank A bank is a financial institution that largely deals with deposits and loans for a variety of reasons such a commercial or personal. The difference between a bank, an ADI, credit union, building society, and mutual bank ADI is an authorised deposit taking situation. An institution must be accredited to accept deposits from the public. Credit Union A credit union is a member-owned financial cooperative, controlled by its members credit at competitive rates as well as other financial services. Credit institutions are created, owned and operated by their participants. As such, they are not-for-profit enterprises that enjoy tax-exempt status. Building Society a type of financial institution that provides banking and other financial services to its members. Building societies resemble credit unions. They are similar to credit unions and savings and loan institutions, but their members are typically those in construction trades, real estate, or co-op housing. Mutual Bank A mutual savings bank is a financial institution chartered by a central or regional government, without capital stock, that is owned by its members who subscribe to a common fund. Finance and the Finance Industry Finance is a broad term that describes activities associated with banking, leverage or debt, credit, capital markets, money, and investments. Basically, finance represents money management and the process of acquiring needed funds. Finance also encompasses the oversight, creation, and study of money, banking, credit, investments, assets, and liabilities that make up financial systems. The financial sector is a section of the economy made up of firms and institutions that provide financial services to commercial and retail customers.
    [Show full text]
  • Net Zero Momentum Tracker for the Banking Sector
    Acknowledgements We would like to thank Monica Richter (World Wide Fund for Nature and the Science Based Targets Initiative) and Ariel Pinchot (World Resources Institute) for kindly reviewing this report. We also thank the banks listed for reviewing and providing feedback on information about their climate commitments and actions. ClimateWorks Australia is a not for profit working within the Monash Sustainable Development Institute. It provides independent research and advisory work for a range of governments and businesses, and has previously conducted advisory work or consulted with some of the companies included in this report. ClimateWorks may receive future funding from institutions included in this report. National Australia Bank is currently partnering with ClimateWorks on the Natural Capital Investment Initiative as part of the Land Use Futures program. This banking sector report is part of a series of Net Zero Momentum Tracker[1] assessments focusing on a sectors within the Australian economy. Net Zero Momentum Tracker is an initiative that demonstrates progress towards net zero greenhouse gas emissions in Australia. It brings together and evaluates climate action commitments made by Australian businesses, governments and other organisations. Achieving net zero emissions prior to 2050 is a key element of the Paris Climate Agreement[2] to limit global temperature rise to well below 2 degrees Celsius above pre-industrial levels and to strive for 1.5 degrees. Banks can facilitate investment in Australia’s net zero transition Banks are increasingly aware of the need to decisions of Australian businesses, report on and reduce emissions associated households and individuals. As financial with their operations, investments, products intermediaries, banks have considerable and services.
    [Show full text]
  • Broker's Guide to Non-Major Banks
    BROKER’S GUIDE April 2021 Broker’s Guide to Non-Major Banks WHAT BROKERS TURNAROUND TIMES HOW THE NON-MAJORS WANT IN FOCUS ARE SERVING BROKERS P.12 P.14 P.18 Cover.indd 1 9/03/2021 3:31:57 PM Home loans that tick all the right boxes for essential workers We serve education, emergency services We are the only Australian bank with retail and health workers nationally in all states deposits, mortgages, and wholesale funding and territories all certified as ethical or responsible We’re one of a small number of banks We understand our essential workers like participating in the First Home Loan deposit no other bank, that’s why we have products scheme to help essential workers own their and features tailored for them. Offers such home sooner as 100% offset facilities on fixed rate home loans, or 35-year loan terms to help keep We have been named one of the World’s the monthly payments down. Most Ethical Companies® for the eighth year in a row Unlock nationwide access to hundreds of thousands of essential workers in niche industry sectors. Become an accredited Teachers Mutual Bank Limited broker today to access four customer-owned industry banking divisions. To find out more or to become accredited contact [email protected] or 1300 86 22 65 Teachers Mutual Bank Limited ABN 30 087 650 459 AFSL/Australian Credit Licence 238981. Membership eligibility applies to join the Bank. All applications for credit are subject to our responsible lending criteria. Fees and charges apply. You can find our Consumer Lending terms and conditions available online or from any of our offices.
    [Show full text]
  • Annual Report and Sustainability Update 2017-2018 Teachers Mutual Bank Limited Contents
    Annual Report and Sustainability Update 2017-2018 Teachers Mutual Bank Limited Contents Annual Report and Sustainability Update 2017-2018 Our Vision To be the largest, most successful and respected Australian mutual bank primarily focused on serving the Australian education sector and other niche markets in the professional and essential services sector. Key financial performance 02 Chairperson and Chief Executive Officer’s report 04 Members 06 Employees 08 Community 12 Environment 16 Sustainability KPIs and targets 15 Directors’ report 22 Auditor’s independence declaration 26 Financial statements and notes 27 Statement of comprehensive income 28 Statement of changes in member equity 29 Statement of financial position 30 Statement of cash flows 31 Notes to the financial statements 32 Independent auditor’s report 78 Directors’ declaration 80 1 Financial Performance Key Financial Performance Our focus is to maintain sustainable growth to ensure we provide competitive products and services to enable our members to secure their financial future. Capital adequacy ratio Membership Capital adequacy is a ratio which protects depositors Membership refers to all shareholders that are eligible to and investors by indicating the strength of an institution. join under the common bond. We are well above APRA’s minimum requirement of 8%. 15.85% 15.72% 15.74% 15.09% 15.65% 198,440 191,415 177,357 166,046 161,898 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 Profit after income tax Loan balances Profit after income tax1 is the amount of money we Loan balances is the total of money owed to us by our generate from operating our products and services members from personal loans, secured (home) loans, minus the cost of providing those products and services, credit cards and overdrafts.
    [Show full text]