Although they're a mutual bank, they're acting like a 'big' player in the industry and treating customers like the Big 4 do. There is nothing personal or personable about this bank. As a credit union they were OK, as a bank they are not.
We chose this bank as they were highly recommended by us by family and our broker. To put things bluntly, Teachers mutual bank screwed us over at the last minute. We had a pre approval (twice!) for a loan on our land which they retracted 2 days before settlement due to a clause in the contract that our conveyancer/vendor/broker stated was a normal contractual clause. This caused us not only significant emotional stress but financial stress as we were unable to settle on time. We were left to find another lender within two days with no responsibility taken by TMB. To do that to two healthcare workers in the middle of covid-19 who have over the 20% deposit and a perfect credit score is ridiculous.
I really like TMB because the app is easy to use and allows me to manage my offset account on from my phone. The interest rate is good, although they have gone lower since I joined TMB so that is an area for improvement. Overall, I am happy with the bank.
Very helpful. No monthly fees on loan.
There are very few branches and no ATMs that don't charge a fee for transactions. Their Solutions Plus Home Loan has low fees, offset and redraw and no penalties for advanced payments.
They do not have the best rate. Works for me because they fund for a studio
Good service and products.
A great mutual bank for the education community and their families. Low fees and great rates coupled with some of the best member service around.
I have been with this bank for nearly 40 years and they consistently provide very competitive rates and a high level of service.
Good service and good rates.
We trust them, they are always helpful and you can talk to a person (rather than a computer) easily when you need to.
TMBank is the bank provider with very low interest.
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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.
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