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.
After a successful member vote, Australian Mutual Bank and Teachers Mutual Bank Limited will merge on 1 May, with the combined organisation commencing operations as a single entity on 24 May.
Together, we will form one of the country’s largest customer-owned banks, with $14.2 billion* in total assets, around 280,000 members, and more than 750 employees.
Members will benefit from a combined 130 years of experience, alongside greater investment in competitive products, digital capabilities, and protection against scams and fraud. This merger is grounded in shared values and a strong commitment to people and the planet.
As a unified organisation, we are building a stronger, more sustainable bank with members at the heart of everything we do.
Shortly members will begin to receive information packs outlining important information about the merger of the two banks, including:
Information packs will be emailed to members with a valid email address on file, and sent by post to those without an email address or where emails are returned undelivered. To minimise disruption to your banking please read this information carefully so you know what to expect.
Please read the Information Booklet to understand the timeline of the merger transition, any upcoming changes relevant to you and the related actions you may need to take.
| Date | Merger milestone | What you need to do |
| 1 May | Legal date of merger as Australian Mutual Bank comes together with Teachers Mutual Bank Limited. | Nothing. You will automatically become a member of Teachers Mutual Bank Limited, the merged bank. |
| 22 May | Service outage commences across Australian Mutual Bank’s Internet Banking and Mobile App as services are transferred to Teachers Mutual Bank Limited. | You will not be able to access Internet Banking or the Mobile App from 22-24 May while services are being transferred. Please ensure you plan ahead. |
| On or before the 24 May** | Service outage and transfer of services to Teachers Mutual Bank Limited’s systems completes. | If you have been provided with a new member number, you will need to use this to access Internet Banking and to re-register for and access the Mobile App. |
| 25 May | Our combined branch footprint opens to all members. | From today, you’ll be able to visit any one of the 13 branches locations in our network. |
You will not be able to access Internet Banking or the Mobile App between 22 and 24 May while services are being transferred to Teachers Mutual Bank Limited.
To help you prepare, we recommend:
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 60 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.
Some members will receive a new membership number. If your member number is changing, you'll find the new details in the cover letter or email sent to you in April 2026.
Please retain this information, as it will be required to access Internet Banking and the Mobile App from 24 May 2026.
Your Australian Mutual Bank BSB number stays the same. Please continue to use 611-100 for new payments.
Some members will receive updated account numbers. If your account numbers are changing, you will find the new details in the cover letter or email sent to you in April 2026. Please retain this information for use from 24 May 2026 for new payments.
For any new transactions made on or after 24 May 2026, please use your new account numbers. Transactions using old details may not be processed. Existing scheduled or recurring payments will continue without any action needed from you.
If you’re 18 or older, you can continue using your existing Visa card(s).
If you’re under 18 years old, we’ll send you a new card which you’ll be able to use from July 2026. The new card includes new card controls to protect you. Until you receive your new card you can continue using your existing card.
Standard daily transaction limits for BPAY, external transfers and Osko will be $5,000 per account. These can be increased in Internet Banking or by contacting us.
There will be some new features and refreshed layout. If your member number is changing, you'll need to use your new member number to log in. There is no need to change your existing password. We’ve enhanced security features, so there is no need to enter your date of birth on login.
Your existing electronic payments, direct debits, direct credits and customised account nicknames will be automatically migrated for you.
You can continue using your existing login details to access the Australian Mutual Bank mobile banking app. If your member number is changing you will need to re-register and use your new member number to log in. If you don’t currently use the app, you can download it from the Apple App Store or Google Play Store.
If you also bank with Teachers Mutual Bank, Firefighters Mutual Bank, UniBank or Health Professionals Bank, you can retain your existing banking arrangements.
Your Australian Mutual Bank accounts will remain separate to your other accounts. After the transition, you can contact us if you want to consolidate your accounts. You can keep them separate if you prefer.
From 25 May 2026, you’ll have access to more than double the number of branches you do today. The new branch locations can be found here.
This 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.
No. The 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).
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 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 including two representatives from Australian Mutual Bank.
* $14.2 billion as at February 2026
** The transfer may complete on 23 May 2026
*** Teachers Mutual Bank was named Customer-Owned Institution of the Year in Money magazine’s Consumer Finance Awards for 2025. In 2024, it was named the top bank in Australia for the most satisfied main financial institution customers in the Roy Morgan Customer Satisfaction Consumer Banking Report.
