Teachers Mutual Bank Limited

Teachers Mutual Bank Limited (TMBL) has used B Corp Certification to reinvent the whole bank to be ‘banking for good for those who do good'.

With B Corp, TMBL’s Sustainability Strategy has become their Business Strategy. The bank and B Corp are indivisible – the highest order of integration. TMBL has used B Corp not as a ESG scorecard, but to reset the organisation for strategic, competitive advantage.

Being a B Corp now defines the whole bank, its identity, purpose and strategy and is a better way to articulate what mutual banking is.

TMBL took two years to complete their Certification and ran a long campaign for their 230,000 members to vote to amend the Constitution to insert B Corp wording - a record 91.4% of their members voted yes.

• B Corps represent the future global model for socially responsible companies and especially for mutual banks.

• B Corp Certification is a global high standard of verified social and environmental performance, public transparency, and legal accountability.

• B Corp is a rigorous, verified performance assessment across 5 areas: with a minimum score of 80 points. The B Impact Assessment involved more than 300 scored questions, multiple verification rounds, a series of interviews and extensive data provision. B Corp Certification is holistic, not exclusively focused on a single social or environmental issue.

• Being a B Corp provides independent evidence that profit for purpose is TMBL’s business model and philosophy - the bank is run for people, planet, and profit.

• Being a B Corp means they walk the talk when they say they are a world-leading socially responsible bank

• B Corp and Banking for Good provides the umbrella for various social responsibility credentials including:

• $12 billion of Certified Responsible Investment Product by Responsible Investment Association Australasia (RIAA)

• TMBL is the only bank named as a Responsible Investment Leader by the RIAA for 3 years in a row

• Named One of the World's Most Ethical Companies for ten years in a row

• Named Finder Green Bank of the Year 2022, Highly Commended of 2023, Finalist of 2020 and 2021

The Teacher's Mutual Bank Limited was awarded the Banksia Foundation's Large Business Sustainable Leadership Award, sponsored by MCI.

Website: tmbl.com.au