Teachers Mutual Bank tops community investment

27 November 2013

Teachers Mutual Bank is the global leader in community investment measured as a proportion of profits for the second year running, according to the London Benchmarking Group’s local 2013 index.

The mutual bank’s community investment of 4.1 per cent of pre-tax profits was seven times higher than the London Benchmarking Group’s (LBG) Australia & New Zealand average and 12 times higher than the financial services sector average.

In 2013 Teachers Mutual Bank supported teaching scholarships, school sustainable living programs, creative and performing arts initiatives and funding a sustainable program in Myanmar, James said.

“As a mutual bank, we believe profit has a purpose. For us, success is about supporting our members, communities and employees, and minimising harm to the environment. In today’s socially responsible world, this is a crucial indicator, and a measure of success along with profits and growth,” said James.

Source: Ethical Investor, 25 Nov