Teachers Mutual Bank named one of the world’s most ethical companies

Person smiling at piggy bank, thinking about Teachers Mutual Bank award win.

For the eighth year running, Teachers Mutual Bank has made it onto the Ethisphere Institute’s World’s Most Ethical Companies list.

The corporate ethical standards research group assesses companies across more than 200 individual areas. This includes analysis of a company’s culture, its environmental and social practices, legal compliance, governance, diversity across the business, and other initiatives that see these outcomes reflected throughout its value chain.

In 2021, Teachers Mutual is one of only five banks to make it onto the list of 135 companies operating in 22 countries across 47 different industries. 

Teachers Mutual Bank chief executive, Steve James said social responsibility is the key driver behind the bank’s products, practices and people, with a particular emphasis on home loans.

“We are the only Australian bank to receive certification from the Responsible Investment Association of Australasia for all of our retail deposits, mortgages and wholesale funding. Every single mortgage product we sell is socially responsible at no extra cost to our members,” he said.

If you’re looking to take out a home loan or savings account and want a provider whose values match your own, check out some of these ethical banking options.

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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