that is written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . january 2013 learn how and when to remove this template message teachers mutual bank limited type consumers co operative industry banking founded 1966 headquarters homebush new south wales australia area served australia key people steve james chief executive john kouimanos chairperson products consumer banking wholesale banking wealth management insurance travel total assets a 4.22 1 billion 2014 number of employees 615 2012 slogan we put you first website tmbank.com.au teachers mutual bank limited formerly the new south wales teachers credit union is one of the largest mutual banks in australia with more than 156 000 members and assets of 4.22 1 billion . membership is primarily open to serving and 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 . initially formed in 1967 as the new south wales teachers credit union with membership restricted to public state school teachers in new south wales the membership of teachers mutual bank is today spread across new south wales the australian capital territory western australia south australia and the northern territory . having always had a highly decentralised membership their teacher members working in schools spread across the state the bank was an early innovator in providing banking services with telephone and later internet banking . it currently maintains only five branches ; two located in sydney one being the head office and one in each of the hunter region the australian capital territory and western australia . the head office branch is located at homebush on parramatta road in sydney s inner western suburbs . teachers mutual bank is a long standing supporter of many education programs and has made a significant contribution to public education in new south wales . this support extends across a broad range of educational programs including sport the arts conferences and workshops as well as significant activities and events at all levels of the school system . milestones 2 year milestone membership assets 1966 founding board members joseph stone chairman betty shearman bryan priest colin thomson vernon wildy cecil norgate douglas wale bob dobson treasurer and dennis stewart secretary . the hornsby teachers association credit union was formed on 27 september 1966 in response to a group of teachers recognising the need for a mutual financial organisation that understood their needs . 1967 name changed to nsw teachers credit union at the first annual meeting on 20 september . 1969 sheila davison became first employee . 532 1970 ken miller appointed general manager . 1974 bill paying service introduced . 1976 cash withdrawals became available . 1977 members records were computerised . 1980 telecheque was introduced allowing members to call and request a cheque withdrawal . 1982 redi access network utilising other credit unions offices for deposits and withdrawals was introduced . 1983 redicard visa debit card and the rediteller atm network began and teachers were able to direct all their pay to the credit union . 1984 rooty hill office opened to service the western sydney area . 1985 point of sale pos machines and cheque books were introduced . 1987 ken miller retired and john prescott was appointed as general manager . 58 000 1994 pay for non department of education members was able to be deposited electronically . 2001 john prescott retired as general manager and stuart gillies was appointed as chief executive . 104 785 923 million 2005 stuart gillies retired and steve james was appointed as chief executive . 129 617 1.5 billion 2006 celebrated 40th anniversary . 2007 office opened in canberra . 143 000 1.8 billion 2008 office opened in perth . merger with tafe and community credit union . 155 000 2.4 billion 2009 received first place in choice magazine s survey on personal banking satisfaction . 2010 name officially changed to teachers credit union reflecting status as a multi state credit union . 3 billion 2011 3.67 billion 2012 the australian prudential regulation authority apra approved name change to teachers mutual bank effective 1 april 2012 . references edit a b prudential information march 2014 http www.tmbank.com.au gi about % 20us our % 20story our % 20milestones . aspx external links edit teachers mutual bank limited v t e banking in australia bank regulation australian prudential regulation authority australian competition and consumer commission australian payments clearing association four pillars policy central bank reserve bank of australia big four australia and new zealand banking group anz commonwealth bank of australia national australia bank westpac banking corporation other banks amp bank of melbourne wbc bank of queensland banksa wbc bankwest cba bendigo and adelaide bank cuscal defence bank heritage bank macquarie group me bank bank australia qt mutual bank rural bank suncorp st.george bank wbc teachers mutual bank victoria teachers mutual bank foreign banks arab bank bank of china beirut hellenic bank citibank australia hsbc bank australia ing direct investec rabobank non bank lenders rams wbc mortgage choice ge capital aussie home loans category banks of australia list of banks in australia financial system in australia economy of australia retrieved from https en.wikipedia.org w index.php title teachers mutual bank & oldid 714154073 categories banks of australiacredit unions of australia1966 establishments in australiabanks established in 1966hidden categories use dmy dates from may 2014use australian english from may 2014all wikipedia articles written in australian englisharticles with a promotional tone from january 2013all articles with a promotional tone navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 7 april 2016 at 23 56 . text is available under the creative commons attribution sharealike license ; 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