Teachers Mutual Bank Limited (formerly the New South Wales Teachers Credit Union) is one of the largest mutual banks in Australia, with more than 200,000 members and assets of over $8 billion. Membership is primarily open to serving retired teachers, university students undertaking education degrees and diplomas that will qualify them as registered school teachers, other employees in the Australian education sector, and immediate family members of people who fit the primary criteria. As a mutually owned institution, each member (account holder) holds one equal share in the organisation and all profits are intended to be returned to members by way of lower fees and interest rates than those available from commercial banks and other for-profit financial institutions. More information...
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