Members of Australian Mutual Bank have voted overwhelmingly in favour of the proposed merger with Teachers Mutual Bank Limited (TMBL), with 93.8% of votes cast supporting the proposal.
The strong result reflects members’ support for bringing the two member-owned banks together to create a stronger mutual banking organisation focused on delivering long-term value for members.
The outcome of Teachers Mutual Bank Limited member vote will be announced tomorrow (12 March 2026). If it is also successful, the merger is expected to take effect on 1 May 2026, subject to final regulatory approvals.
Australian Mutual Bank Board Chair, Fiona Bennett, said the result demonstrated members’ confidence in the future direction of the bank.
“This overwhelming support from our members reflects the trust they place in the Board and management to act in their long-term interests. The proposed merger represents an important step in strengthening our mutual bank so we can continue delivering value and service to members well into the future.”
Australian Mutual Bank CEO, Mark Worthington, thanked members for their engagement throughout the process.
“We appreciate the engagement from members and their participation in this important decision. This outcome supports the creation of a stronger, sustainable mutual bank that will continue to put members first.”
Mr Worthington said the merger would bring together two well-established mutual banks that share a strong commitment to member ownership, community and long-term financial sustainability.
“By joining forces with Teachers Mutual Bank Limited, we will be better positioned to invest in technology, products and services that support our members’ evolving needs, while continuing to operate as a member-owned mutual bank.”
Should Teachers Mutual Bank members also approve the merger tomorrow, Australian Mutual Bank members will automatically become members of Teachers Mutual Bank Limited from the effective date of the transfer, with the Australian Mutual Bank brand being retained.
We thank our members for taking the time to participate in this important vote and for their ongoing support of Australian Mutual Bank. Further updates will be shared with members as the merger process progresses.
