Teachers Mutual Bank celebrates 50 years

13 September 2016

In 1966, nine teachers dreamed of a mutual financial organisation that understood and met the needs of teachers. In response, they set up Hornsby Teachers Credit Union which 50 years later is Teachers Mutual Bank (TMB).

During these years, the name of the bank has changed a number of times however the values of advocacy, passion and sustainability remain the same. Last night, Teachers Mutual Bank, a BCCM member, celebrated their 50th anniversary with an event held at NSW Parliament.

Speakers at the event included The Hon Leslie Williams, Minister for Early Childhood Education, Minister for Aboriginal Affairs and Assistant Minister for Education who highlighted the investment by the bank in the education community through scholarships, grants and programmes. Special mention was given to the bank’s initiatives with Indigenous communities by the Minister.

Also speaking at the event was John Kouimanos, Chairperson of TMB and its CEO, Steve James who highlighted the banks growth from 29 members and $644 in deposits, to over 174,000 members and more than $5.5 billion in assets.

The BCCM congratulates Teachers Mutual Bank on reaching this significant milestone and wish the bank continued success into the future.