Upon merging, Australian Mutual Bank's 6 branches and Teacher Mutual Bank's 7 branches will be maintained, meaning members will be able to access 13 branches across the ACT, New South Wales, Victoria, and Western Australia.
Online voting closes
at the Special General Meeting (SGM) on 11 March 2026.
By voting YES to the proposed Merger with Teachers Mutual Bank Limited, you can help shape a more resilient and member focused bank - one that brings even
greater value to you.
Joining forces with a like-minded, bigger mutual bank- one with similar origins and values - we will be better equipped to deliver on your needs while responding to advances in technology and the rapidly increasing demands of the regulatory environment.
The Member Information Booklet contains important details of the proposed Merger with Teachers Mutual Bank Limited, including:
Teachers Mutual Bank Limited’s history is similar to our own origins and evolution. Serving members in the education, health and emergency services sectors, they too were established to provide a banking alternative for Australians working in distinct vocations almost 60 years ago.
Just like us, Teachers Mutual Bank Limited is today member owned, offers competitive financial products and services, and has a firm commitment to supporting the communities it serves.
Operating four brands - Teachers Mutual Bank, Health Professionals Bank, Firefighters Mutual Bank and UniBank – Teachers Mutual Bank Limited is financially strong, with consistent performance in recent years.
With headquarters in Sydney and seven branches in New South Wales, Australian Capital Territory, Victoria, and Western Australia, Teachers Mutual Bank Limited has some of the highest member satisfaction rates in the industry.
Another key point of strategic and operational alignment is that both Australian Mutual Bank Ltd and Teachers Mutual Bank Limited are B Corp certified. This makes us two of the 58 banks worldwide that hold B Corp certification, reflecting our commitment to high standards of verified social and environmental performance, public transparency, and legal accountability.
We both invest in and support our communities, through sponsorships and partnerships, to proactively drive a positive impact.
While our banks have operated side by side, we have always shared the common purpose of member-owned banking. Together we’ll be a stronger, more sustainable member-owned bank.
The Vero Voting SGM Online Guide provides instructions on how to vote using the online portal.
To access the online portal, you will require your member number and unique PIN code provided to you by email or letter.
As an alternative to voting online, members can appoint a proxy to vote on their behalf.
Please follow the instructions on how to complete and submit your proxy using the Appointment of Proxy and Voting Form.
Online voting closes at the SGM on Wednesday, 11 March 2026.
Last date and time to lodge an Appointment of Proxy and Voting Form ahead of the SGM is 9 March 2026 at 3:00pm.
You are invited at the Special General Meeting (SGM) which will be held at 3pm (AEDT) on Wednesday, 11 March 2026.
PARKROYAL Darling Harbour, 150 Day Street, Sydney
Members can register their attendance by contacting our team on 13 61 91. In-person registration at the venue will open from 2:00pm on the day.
Members should use their member number and unique PIN provided by email or letter to register online attendance and to lodge questions at https://amb.verovoting.com.au.
Members will be able to ask questions in person and virtually during the SGM. You can also write to us at any time at merger@australianmutual.bank - we're here to help.
We've been listening to the member feedback received so far about the proposed Merger with Teachers Mutual Bank Limited.
In this video, our CEO Mark Worthington answers key questions on how the merger will benefit our members and what will happen to branches, employees, and products and services.
We understand that the proposal to merge with Teachers Mutual Bank Limited may cause uncertainty, so below please find answers to some questions that you may have. If you have more questions about the proposed Merger, please contact us at merger@australianmutual.bank.
Success in the banking sector is dependent on the ability to rapidly adapt, meet evolving customer expectations, and new regulatory demands. Smaller organisations can be at a disadvantage in keeping pace with required investment in frequent and complex technology advancements.
Across the mutual bank sector, industry consolidation has occurred at pace, over the past decade the number of mutuals has halved, in fact; in the last four years, eight of the top 10 mutuals have either merged, or announced intentions to merge.
A merged entity would benefit from the shared capabilities of both brands, investment and technology investments, allowing us to continue to be a genuine alternative to the major banks.
This proposed merger is a proactive, strategic choice by our Board to ensure our heritage, values and importantly, our focus on putting members first is retained and enhanced well into the future. This merger is about creating a better bank that can deliver greater member benefit and create a stronger bank.
As a smaller bank competing against the major banks, we are experiencing increasing regulatory requirements and costs, the need for greater investment in technology, and the cost of funding continued improvements in member experience. Merging with Teachers Mutual Bank Limited will help us meet these challenges and position the Merged Bank strongly for the future.
Coming together, we’ll create a stronger, more resilient, future-ready bank that can continue to be a challenger in the Australian banking sector, while remaining small enough to keep the personalised service we know our members love.
Should the merger be approved, overtime as integration is completed there may be some changes to accounts. We will work to minimise the impact to customers and commit to keeping you informed.
Your interest rates won’t change as a result of the merger. Just as we operate today, from time to time there may be changes to interest rates on products. If this occurs, you’ll be notified of such changes in accordance with the terms and conditions applicable to the relevant product or service.
No. The proposed merger will not trigger a demutualisation. The merged entity will continue to be 100% owned by its members and each member will continue to have one vote.
The combined organisation will offer broader career opportunities for our people and there will be no forced redundancies as a result of the merger.
Upon merging, the Australian Mutual Bank Ltd brand will operate alongside the Teachers Mutual Bank Limited retail brands (Teachers Mutual Bank, Health Professionals Bank, Firefighters Mutual Bank and UniBank).
Yes. The proposed merger requires approval from regulators including the Australian Prudential Regulation Authority (APRA), ASIC, ATO and the Federal Treasurer.
The Merged Board will include two representatives from Australian Mutual Bank Board of Directors to ensure retention of skills and experience. Andrew Kearnan, current Chair of Teachers Mutual Bank Limited, will be the inaugural Chair. The CEO of the Merged Bank will be Teachers Mutual Bank Limited’s CEO, Anthony Hughes.
The Merged Bank will have nine Non-Executive Directors with two representatives from Australian Mutual Bank.
The Australian Mutual Bank Board has a responsibility to ensure the long-term sustainability, viability, and success of our bank, and anticipates that a merger is the best way to achieve this. If the vote to merge with Teachers Mutual Bank is unsuccessful, we will continue to pursue a merger as a strategic priority.
Members will be asked to vote prior to and during the Special General Meeting to be held 11 March 20026.
There are multiple ways to vote:
A Member Information Booklet, which includes proposed merger's benefits, strategic importance, financial information, future governance, and next steps is available here.
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