Westpac, NAB and Teachers Mutual Bank are among the five most ethical lenders in the world.
They were three of the 144 companies across 41 industries that were honoured recently in the annual Most Ethical Companies list.
They were also the only Australian companies recognised by the US-based Ethisphere Institute.
Only two other lenders made the list – one from Brazil and one from the US.
The awards recognise firms that promote ethical business standards and exceed legal compliance minimums.
Teachers Mutual’s national manager of third party distribution, Mark Middleton, said the lender’s reputation for being an ethical and carbon neutral company has boosted its credibility with brokers and aggregators.
“From my experience of presenting at professional days, it certainly has made a difference because brokers are looking for an angle to position one lender over another,” he told The Adviser.
Mr Middleton said messages about ethics and sustainability were particularly well received by teachers, who form the bulk of Teachers Mutual’s clients.
Westpac’s general manager of broker distribution, Tony MacRae, said this was the seventh consecutive year in which the bank had made the Most Ethical Companies list.
“This is a key way which the Westpac brand is demonstrating its commitment to both the mortgage broker market and the wider Australian financial services industry,” he told The Adviser.
“Being recognised as one of the world’s most ethical leading companies is a key proof point which represents the strength of the Westpac brand to mortgage brokers and customers.”