Teachers Mutual Bank members will get a chance to have their say on its proposed merger with Australian Mutual Bank, with a member vote date now set.
Teachers Mutual Bank (TMB) members will vote on the proposed merger with Australian Mutual Bank (AMB) next week, with voting opening on Monday, 9 February 2026.
The proposed merger was endorsed by TMB and AMB boards in May 2025, following the completion of a comprehensive and successful due diligence process.
If members approve the merger and regulatory approvals are secured, the two mutuals would grow their customer base to approximately 280,000 members with combined assets of $13.4 billion.
Teachers Mutual Bank Limited CEO Anthony Hughes said: “This merger is a strategic decision that will make us even stronger and better equipped to meet the challenges ahead, while holding true to our purpose and our history.
“With shared values, complementary strengths and aligned purpose, Australian Mutual Bank is a natural partner, and we’re excited by what we’ll be able to do together as one merged bank.”
Moving forward
If approved, the merged organisations are expected to continue to operate under their existing brands with both banks committed to maintaining their current branch networks.
This will give members access to a combined total of 13 branches – up from seven at TMB and six at AMB.
“This merger will build on what our members already love about our bank while ensuring we can continue to deliver outstanding value to our members now and into the future,” Hughes added.
“We are looking forward to opening the vote next week and encourage every eligible member to have their say.”
Mutual mergers
The mutual bank space has seen plenty consolidation in recent times.
Last year, Summerland Bank and Regional Australia Bank moved a step closer to merging after members approved the proposal, paving the way for implementation on 1 July 2026.
And earlier in 2025, Auswide Bank became a wholly owned subsidiary of MyState Limited, while G&C Mutual Bank and Unity Bank completed their merger to form Unity Bank Limited in July 2025.
[Related: Teachers Mutual and Australian Mutual boards endorse proposed merger]
