Firefighters Mutual Bank Year in Review 2016-17

The year in review reports summarises Firefighters Mutual Bank's achievements, activities and financial highlights for the year.

Firefighters Mutual Bank Year in Review 2016-17

Report from Jim O’Connell, General Manager

The past year has signified one of the most important in our 49 years of existence when our members approved the merger of Fire Brigades Employees’ Credit Union with Teachers Mutual Bank Limited. This decision resulted in the formation of Firefighters Mutual Bank on the 1 November 2016.

The intention of the merger was to secure a prosperous and sustainable future with an organisation that holds strong values and member focus. I believe that in joining Teachers Mutual Bank Limited, we have accomplished this.

Following the merger and as we approach our first anniversary as Firefighters Mutual Bank, there have been many positive changes for our members. We have invested in a range of improvements including new products, enhanced online banking services, expanded access to additional offices for members to conduct their banking and increased training and development for our staff. All of these improvements have helped us to serve you better.

New members have joined and our deposit and loan balances have grown. This growth enables us to continue to invest for all our members.

We are pleased to have been able to increase our engagement with key stakeholders across the fire and emergency services sector and also increase our contribution to the community, through sponsorship of events and associated charitable causes. We will continue to develop these valued relationships.

As we approach 2018 we are enthusiastic about the opportunities ahead for members and our organisation. There are a number of initiatives underway and many more identified to help improve the overall banking experience for members as well as support the future growth of Firefighters Mutual Bank.

This includes participating in the New Payments Platform (supporting real-time payments), which the banking sector has been developing for a number of years. This will start to transform the way members can pay friends and family, businesses and government agencies. The initial phase is on track to launch in early 2018, with other services to follow soon after.

Lastly, I would like to thank all of our members for their continued support and together we can look forward to an exciting future.

Jim O’Connell

General Manager

New Product and Services

Firefighters Mutual Bank is committed to growing our membership* and attracting new members from the fire and emergency services sector and their families. We have worked persistently to deliver a number of new benefits to members over the last year.

New Products

  • Credit Card1
  • Reward Saver Account2
  • Cash Management Account2
  • First Home Buyers Loan1
  • Expanded terms for Fixed Rate Home Loans1 with 100% offset options3

Improved Online & Digital Experience

  • New Website
  • New Internet Banking with access to online statements4
  • New Mobile Banking app4
  • Google Pay5 (Tap & Pay for Android Mobile Phones)
  • Apple Pay6 
  • Samsung Pay7
  • Online Applications (Membership*, Credit Card1, Home & Personal Loans4)

Improved accessibility Australia wide

New Office locations in association with Teachers Mutual Bank

  • Homebush, Rooty Hill, Parramatta & Hamilton (NSW)
  • Weston (ACT)
  • West End (Qld)
  • West Perth, Bentley & Murdoch (WA)

New rediATM at FRNSW Headquarters at Greenacre

Expanded telephone contact hours

Advisory Committee

  • Our Firefighters Mutual Bank Advisory Committee is a group of ex-directors, from our days as Fire Brigades Employees’ Credit Union, who meet regularly to provide guidance and support on matters impacting the Bank and our members.

Broker Channel

  • Firefighters Mutual Bank Home loans1 are now available through the national Broker network. This provides Firefighters Mutual Bank with the opportunity to attract more emergency service employees Australia wide to our competitive home loan products.

Ethical banking

As part of Teachers Mutual Bank Limited, sustainability is one of our core values. We are a values based bank where profit has a purpose. Doing business ethically and sustainably are core values that drive our model of mutual banking.

Pioneering Ethical Investment

We issued $200m of ethical bonds; an Australian banking first. It’s the first Certified Ethical Investment wholesale cash product, and the first based on fossil fuel lending and investing exclusion8.

Global Alliance for Banking on Values

In 2017, the Bank joined the Global Alliance for Banking on Values9 (GABV), an international network of 39 member banks dedicated to working collaboratively to expand and develop sustainable, values-based banking practices around the world.

Our staff

We believe our employees are our most valuable resource, and we strive to create an engaged workforce by having fair and equitable policies in place that enrich the working environment. We have a strong reputation for caring for staff and attract and retain high quality employees with our flexible work practices, strong leadership programs, generous remuneration and attractive benefits. There have been a number of positive changes in the past 12 months.

Appointment of new Business Relationship Manager

In March 2017 we welcomed Jade Coleman to the team. Jade has established a fire station visitation program to enable us to give you convenient access to the bank in the workplace. She will be able to assist you with your banking needs and provide assistance in applying for products and opening accounts.

Expanded Mobile Lending team

As part of our ongoing commitment to employees of the fire and emergency services community and their families, the Bank now has a number of Mobile Lenders available to service members.

Training and Development

Firefighters Mutual Bank staff have continued to develop their skills over the year to help better service members, including successful completion of formal programs and online training.

A BIG thanks to our valued Members

There have been many changes at Firefighters Mutual Bank over the last 12 months. From our modest beginning in 1968 until today, we never forget that it’s our members who benefit from our financial performance.

Your support and continued loyalty keeps us growing. It allows us to continue our commitment of supporting employees of the fire and emergency services community, and their families, to ensure our members receive the best banking experiences possible.

We appreciate your ongoing support.

Thank you!