Teachers Mutual Bank Ltd Mortgage products

Product Name

Teachers Mutual Bank Ltd Mortgage products

Issuer

Teachers Mutual Bank Ltd

Category

Banking

Type

Other (please specify)

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

    Teachers Mutual Bank Limited (‘the Bank’) operates divisions: Firefighters Mutual Bank, Health Professionals Bank, Teachers Mutual Bank, and UniBank Every mortgage we sell is a Certified Responsible Investment. Members’ mortgages are from a bank with socially responsible strategies that apply to all products. The Bank operates under distinctive socially responsible strategies, standards and practices, and these apply to all our products - primarily mortgages and deposits. The Bank has specific social responsibility exclusion criteria in relation to the provision of credit. The foundation of our mutual banking model is to use members and customers deposits to provide credit to members. When members obtain a mortgage from the Bank they are accessing funds that are mostly sourced from member and customer deposits, plus wholesale funds. We apply strict social responsibility criteria when it comes to investing and lending our members’ money.


    Description


     The money  members and customers  borrow from us for their  mortgage never comes from damaging industries. and any  payments made on a mortgage are never lent to damaging industries    
    The Bank has specific social responsibility exclusion criteria  that applies to all  mortgages at the bank - it is  a 100%  blanket exclusion across 14 named ESG criteria.  Zero funds from those sectors are used to fund mortgages   
    Certification  covers  all  mortgage lending by the four divisions: Firefighters Mutual Bank, Health Professionals Bank, Teachers Mutual Bank, and UniBank. 
    Certification commenced on December 1, 2018, which means that every  mortgage issued from that date  adheres to these  exclusion criteria.   

     For the consumer these are the statements we provide;   

    • 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 Deposit products

    Wholesale Short Term Deposits (STDs)

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