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.
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.
- 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
- AndroidPay5 (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)
- East Perth, Nedlands, Bentley & Murdoch (WA)
- New rediATM at FRNSW Headquarters at Greenacre
- Expanded telephone contact hours
- 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.
- 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.
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.
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.
*Membership eligibility applies to join the Bank. Membership is open to citizens or permanent residents of Australia who are current or retired employees of fire and emergency services in Australia or family members of the Bank. Conditions of use – Accounts and Access document and Fees and Charges brochures are available online or from any of our offices. You should read both of these documents before deciding to open accounts and access facilities issued by the Bank. Any advice provided here does not take into consideration your objectives, financial situation, or needs, which you should consider before acting on any recommendations. For further information call 1800 800 225 or go to fmbank.com.au. Refer to the Fees and Charges brochure for details on fees and charges.
1. Fees and charges and lending criteria apply. Consumer Lending terms and conditions available online or from any of our offices. Credit Card terms and conditions available online or from any of our offices.
2. Conditions of use – Accounts and access document and Fees and charges brochures are available online or from any of our offices. You should read both of these documents before deciding to open accounts and access facilities issued by the Bank. Any advice provided here does not take into consideration your objectives, financial situation, or needs, which you should consider before acting on any recommendations. For further information call 1800 800 225 or go to fmbank.com.au
3. Terms and conditions for the mortgage offset facility are set out in our Consumer Lending terms and conditions and Conditions of use Accounts and access. For more information refer to the FAQ section under Offset facility at fmbank.com.au
4. Mobile Banking. You should consider whether this service is appropriate for you before acquiring it. For additional information on security please refer to our Security Guide for electronic transactions available online. Access is subject to availability and maintenance. We test mobile banking to ensure compatibility with the majority of popular devices used by members but cannot guarantee that it will be compatible with all devices and operating systems. We do not charge you for accessing your accounts using your mobile. Internet data charges and call charges may be incurred through your mobile service provider – check with your internet service provider or mobile phone service provider for more details. A 3G or Wi-Fi connection is needed for the mobile banking and map features.
5. Android Pay. You should consider whether this service is appropriate for you before acquiring it. Terms and conditions apply to the use of Android PayTM and Teachers Mutual Bank Mobile Wallet and are available on our website. Smart phone must be NFC (Near Field Communication) enabled and running KitKat 4.4 and above. Access to the system is subject to availability and maintenance. We do not charge a fee to allow you to use your Visa card in Android PayTM. Internet data charges may be incurred through your mobile service provider - check with your Internet Service Provider for more details. Android, Android PayTM and Android logo are trademarks of Google Inc.
6. Apple Pay. You should consider whether this service is appropriate for you before acquiring it. Terms and conditions apply to the use of Apple Pay and Teachers Mutual Bank Mobile Wallet and are available on our website. Access to the system is subject to availability and maintenance. We do not charge a fee to allow you to use your Visa card in Apple PayTM. Internet data charges may be incurred through your mobile service provider - check with your Internet Service Provider for more details. Apple, the Apple logo, Apple Pay, Apple Watch, iPad and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Apple Pay works with iPhone 6 and later in stores, apps and websites in Safari; with Apple Watch in stores and apps, with iPad Pro, iPad Air 2 and iPad mini 3 and later in apps and websites; and with Mac in Safari with an Apple Pay enabled iPhone 6 or later or Apple Watch. For a list of compatible Apple Pay devices, see https://support. apple.com/da-dk/km207105
7. Samsung Pay. You should consider whether this service is appropriate for you before acquiring it. Terms and conditions apply to the use of Samsung Pay and Teachers Mutual Bank Mobile Wallet and are available on our website. Access to the system is subject to availability and maintenance. We do not charge a fee to allow you to use your Visa card in Samsung Pay. Internet data charges may be incurred through your mobile service provider - check with your Internet Service Provider for more details. For more information and a list of compatible Samsung Pay devices visit tmbank.com.au/Samsung pay.
8. Teachers Mutual Bank Limited’s $500m Debt Issuance Programme for wholesale investors has been certified by The Responsible Investment Association Australasia (RIAA) according to the strict operational and disclosure practices required under the Responsible Investment Certification Program.
9. The Global Alliance for Banking on Values is an independent network of banks using finance to deliver sustainable economic, social and environmental development. www.gabv.org