Teachers Mutual Bank Ltd Deposit products

Product Name

Teachers Mutual Bank Ltd Deposit products

Issuer

Teachers Mutual Bank Ltd

Category

Banking

Type

Deposit/Savings account

Target

Retail

Certified Since

2018

Asset Classes

Cash

Markets

Australia

Investment Approaches

Negative Screening, Minimum-standards (norms-based) screening

It Includes:

  • No inclusions5 No specific themes

It has some level of screening for:

    It fully excludes:

    • Riaa icons 41 Alcohol
    • Riaa icons 36 Armaments
    • Riaa icons 33 Fossil fuels
    • Riaa icons 42 Gambling
    • Riaa icons 34 Logging
    • Riaa icons 50 Nuclear power
    • Riaa icons 99 Pornography
    • Riaa icons 35 Tobacco

    Overview

    The Bank operates under distinctive socially responsible strategies, standards and practices, and these apply to all our products - primarily mortgages and deposits. When members or customers deposit funds with the Bank, these are all subject to specific social responsibility exclusion criteria when providing credit. This means that we do not invest their money in the fossil fuel industry, or other harmful industries. Teachers Mutual Bank Limited (‘the Bank’) operates four divisions: Firefighters Mutual Bank, Health Professionals Bank, Teachers Mutual Bank, and UniBank


    Description


     The Bank has specific social responsibility exclusion criteria  that applies to all deposits at the bank - it is  a 100%  blanket exclusion across 14 named ESG criteria  
    Certification  covers  all retail  deposits by the four divisions: Firefighters Mutual Bank, Health Professionals Bank, Teachers Mutual Bank, and UniBank. 
    Certification commenced on December 1, 2018, which means that  after that date every deposit account we open and every deposit made adheres to these  exclusion criteria.   

    For the consumer these are the statements we provide;   

    • The money you deposit with us is never used to fund damaging industries such as fossil fuels, gambling or tobacco. 
    • So when you deposit funds with us, we don’t lend it to harmful industries like alcohol, tobacco or fossil fuels. 
    • We apply strict social responsibility criteria when it comes to investing and lending our members’ money
    • We invest money responsibly and ethically under strict rules. 
    • We do not lend to or invest in sectors that harm our society or our world.

      ESG exclusion criteria  
      'Various lending opportunities are disqualified from the Bank’s lending origination business. Such exclusions are where the primary purpose of the entity or business is alcohol, armaments, correctional facilities, cryptocurrency, deforestation or gross environmental degradation, fossil fuels, gambling, military activities, political activities, pornography, slavery, tobacco or uranium'.

    Other products certified by the Responsible Investment Association Australasia (RIAA)

    Teachers Mutual Bank Limited $500m Debt Issuance Programme - Information Memorandum dated 29 September 2014

    Teachers Mutual Bank Limited $500m Debt Issuance Programme – Information Memorandum dated 26 November 2018

    Teachers Mutual Bank Ltd Mortgage products

    Wholesale Short Term Deposits (STDs)

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