Remediation | Firefighters Mutual Bank

We aim to be everything you want in a bank. Sometimes we make mistakes. When this happens, we’re committed to putting things right.

Making things right for our members

At Firefighters Mutual Bank, we aim to be everything you want in a bank. Sometimes we make mistakes. When this happens, we’re committed to putting things right.

What is remediation?

Our Remediation team identifies current and former members who may have been affected by errors. We conduct a thorough investigation, calculate any refund payments owed, and make the necessary changes to prevent the same issues from happening again.

What happens if you have been affected

We’re really sorry if you’ve been affected by a mistake we’ve made. Our first priority is to make things right, as quickly and as easily as we can. We’ll be in touch by mail, email or phone to let you know what happened and what we’re doing to fix it for you.

How payments are made

Current members: If you have an eligible Firefighters Mutual Bank account, we’ll deposit your refund directly into that account. If the affected account is closed, we’ll deposit into another Firefighters Mutual Bank account where possible.

Former members or members without an eligible account: You’ll receive a communication asking for your payment instructions so we can arrange your refund. Please contact our Remediation Care Team and let us know where to send your payment.

Small refunds: For refunds under $5, we may deposit the amount directly into your account without sending you a separate communication. On your account statement, the payment will appear as “REM” followed by four numbers.

Have a question?

We’re here to help. If you can’t find the answer you are looking for, call our Remediation Care team on 02 9735 9555, 9am – 5pm weekdays, Sydney time, or email us [email protected].

How was my payment calculated ?

The communication you received includes details on how your payment was calculated. If you’d like further explanation, our Remediation Care team are happy to help.

How can I be sure this is not a scam?

If you’re ever concerned about a communication you receive, please call our Remediation Care team or get in touch with our Contact Centre directly. We’ll confirm whether it’s genuine.

Will this payment affect my tax obligations?

There may be tax implications for your refund. It’s a good idea to check with your accountant or a tax adviser to understand how it applies to you. You can also find general information on compensation payments from financial institutions on the Australian Taxation Office website.

Does this affect my other accounts held with you?

The communication we sent you will list all affected accounts.

I no longer have an account with you – why are you contacting me?

We value making things right for all members affected by an error we made, including former members. Even if you no longer bank with us, we’ll still reach out ask for your payment instructions so we can transfer your payment.

What if the affected account is a joint account?

Refunds for joint accounts are shared equally between all account holders. If you would like the payment distributed differently, please call or email our Remediation Care team.

What happens if I don’t contact you?

If we reach out about a remediation payment but don’t hear back, your refund may be donated to charity or transferred to unclaimed monies, depending on the amount. Don’t worry — you can still claim your refund later by contacting our Remediation Care team for guidance.

Can I donate my payment to charity?

Yes. Unclaimed amounts under $500 are pooled and donated to charities registered with the Australian Charities and not-for-profits Commission (ACNC). We support a panel of organisations that promote financial literacy in the community, and unclaimed remediation payments are shared among them.

If your payment goes unclaimed, it will automatically be included in this donation — you don’t need to do anything.

Can I go to a branch if I have questions?

Of course. Please bring the letter or email we sent you, and our branch staff will be happy to help you. Search for your closest branch.

Further help

We’re here to help. If you can’t find the answer you are looking for, call our Remediation Care team on 02 9735 9555, 9am – 5pm weekdays, Sydney time, or email us at [email protected].

If you’re unhappy with how we have managed a remediation, our complaints resolution information explains next steps and how we’ll continue working with you until you are satisfied.

If you feel a matter hasn’t been resolved, you can contact the Australian Financial Complaints Authority (AFCA). AFCA is an independent body that provides free and fair dispute resolution services for members. Please quote Teachers Mutual Bank Limited AFCA Member Number 14398 if you contact them.

W: www.afca.org.au

E: [email protected]

T: 1800 931 678 (free call)

Mail: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001