Teachers Mutual Bank Limited
New South Wales, Australia
January 2022
Deposit bank - Developed Markets
Service with Minor Environmental Footprint
Australia
Teachers Mutual Bank Limited is one of the largest customer owned banks in Australia, with over 220,000 Members and $10 billion in assets. Our purpose is providing banking for good, for those who do good. We serve Australians working in education, emergency services, health care and universities through five divisions: Teachers Mutual Bank, Health Professionals Bank, Firefighters Mutual Bank, UniBank and digital bank, Hiver Bank; brand divisions are not separate entities to TMBL. Our members contribute so much to society and they deserve a bank that makes a positive social impact. Our core values of Advocacy, Passion and Sustainability underpin all of our actions. One of our main aims is to bolster our governance, policies and operations so that the Bank is run for people, planet and profit. B Corp builds on our socially responsible banking credentials. We’ve been named as One of the World's Most Ethical Companies for ten years in a row. We’re the only Australian bank to have wholesale investments and retail mortgages and deposits certified as Responsible Investments by the Responsible Investment Association Australasia (RIAA). We were the first bank to join the investor-led Climate League 2030 to cut Australia's emissions by 45% in line with the Paris Agreement.
Overall B Impact Score
Governance 19.3
Governance evaluates a company's overall mission, engagement around its social/environmental impact, ethics, and transparency. This section also evaluates the ability of a company to protect their mission and formally consider stakeholders in decision making through their corporate structure (e.g. benefit corporation) or corporate governing documents.
What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.
Governance 19.3
Governance evaluates a company's overall mission, engagement around its social/environmental impact, ethics, and transparency. This section also evaluates the ability of a company to protect their mission and formally consider stakeholders in decision making through their corporate structure (e.g. benefit corporation) or corporate governing documents.
What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.
Workers 31.3
Workers evaluates a company’s contributions to its employees’ financial security, health & safety, wellness, career development, and engagement & satisfaction. In addition, this section recognizes business models designed to benefit workers, such as companies that are at least 40% owned by non-executive employees and those that have workforce development programs to support individuals with barriers to employment.
Community 20.7
Community evaluates a company’s engagement with and impact on the communities in which it operates, hires from, and sources from. Topics include diversity, equity & inclusion, economic impact, civic engagement, charitable giving, and supply chain management. In addition, this section recognizes business models that are designed to address specific community-oriented problems, such as poverty alleviation through fair trade sourcing or distribution via microenterprises, producer cooperative models, locally focused economic development, and formal charitable giving commitments.
Environment 12.8
Environment evaluates a company’s overall environmental management practices as well as its impact on the air, climate, water, land, and biodiversity. This includes the direct impact of a company’s operations and, when applicable its supply chain and distribution channels. This section also recognizes companies with environmentally innovative production processes and those that sell products or services that have a positive environmental impact. Some examples might include products and services that create renewable energy, reduce consumption or waste, conserve land or wildlife, provide less toxic alternatives to the market, or educate people about environmental problems.
What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.
Customers 17.4
Customers evaluates a company’s stewardship of its customers through the quality of its products and services, ethical marketing, data privacy and security, and feedback channels. In addition, this section recognizes products or services that are designed to address a particular social problem for or through its customers, such as health or educational products, arts & media products, serving underserved customers/clients, and services that improve the social impact of other businesses or organizations.
What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.