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The Mutual Bank was founded in 1888 in Maitland, regional NSW, by a group of passionate locals with a very clear mission: to keep financial investment local and support regional prosperity. Today, we have a clear vision to be the bank of choice for the Hunter and regional communities. We exist to champion financial wellbeing for our Members and regional communities, helping people thrive. The customer-owned banking model matters because, unlike shareholder-owned banks that focus on maximising returns for investors, customer-owned banks like The Mutual Bank reinvest earnings into better rates, lower fees and improved services for their Members who are also the owners. This model fosters greater trust, financial inclusion and long-term community investment; and as a result, makes banking more responsive to local needs. A Year of Strong, Sustainable Growth and Balanced Performance The Mutual Bank’s CEO Mark Williams said that the bank has had a successful 2025 financial year, characterised by strong and sustainable growth and balanced performance across its key financial metrics. “Given the difficult economic environment our Members have faced with cost of living pressures, The Mutual Bank has strived to strike the right balance between competitive interest rates, ensuring the ongoing financial strength of the organisation and investing in the business for the benefit of current and future Members”. “The Mutual Bank is financially strong, well capitalised and committed to ensuring that our Members banking needs are met.” Key financial highlights for the 2025 year included: 7.3% growth in total assets to $1.2 billion; robust growth in the total loan portfolio of 9.5%, compared to total credit growth across the financial services industry of 6.8%, meaning that The Mutual Bank grew at a multiple of 1.4 times the growth experienced by the broader financial services sector; pleasing growth in total deposits of 7.3%, in line with total deposit growth across the financial services industry; a profit of $2.8m (an increase of 16.8% compared to the year ended 30 June 2024). The Mutual Bank’s profit level resulted in the capital adequacy ratio being maintained at 16.4% and its growth objectives being achieved, while simultaneously making substantial investments into a range of business initiatives to benefit both current and future Members; maintaining a strong net interest margin of 2.50%, compared to 2.41% for the previous year; maintaining a strong provision for expected credit losses at 0.10% of the total loan portfolio given the uncertainty of the future operating environment, despite continuing strong credit quality and arrears experience; successfully completing the second Medium-Term Note issuance, raising $32 million in funding through one and three year Floating Rate Notes, which diversifies funding sources and lengthens the overall maturity profile of funding; and the bank’s external credit rating outlook improving from stable to positive reflecting The Mutual Bank’s strategic clarity and strong governance.   A Year of Strong Investment in Improving Our Services to Members and Supporting our Communities The Mutual Bank’s Strategic Plan remains firmly centred on continuing to provide high quality banking services to its Members. For the third year running, The Mutual Bank’s Budget Home Loan won a Mozo Expert’s Choice Home Loan Award in the coveted Low-Cost Home Loan category in recognition of the consistent value that our lending products provide. The Mutual Bank is also proud of its service to Members, with the Net Promoter Score being measured twice during the year, and scoring an average of 61, which is significantly higher than the scores of the major banks. During the 2025 financial year, The Mutual Bank focused on enhancing our proposition to Members, Team Members and the community by making significant investments, including: refurbishing our East Maitland branch to provide a contemporary banking experience for our Members and a functional work environment for our Team Members. Unlike the major banks, The Mutual Bank continues to recognise the importance of its branch network in its distribution strategy, supporting regional communities and is consistent with delivering our Members choice in how they continue to bank with us; in our digital capabilities, including further significant capability enhancements to our Digital Lending Channel (including integrations with key third-party providers, the streamlining of loan documentation and the digital delivery of loan documents to Members), upgrades to Internet Banking, the website and The Mutual App; delivering a bold and future-focused data transformation program that will progressively transform how we manage and use information. By modernising our data infrastructure, we aim to unlock real-time insights that will support faster and decision making; continuing to strengthen our information and cyber security capabilities given the ever-evolving threat environment; successfully implementing the requirements of a new APRA Prudential Standard – CPS 230 Operational Risk Management that will materially strengthen the resilience of the ability of an ADI to manage their operational risks, ensure the continuity of critical operations and manage third-party service providers who support these critical operations; and contributing over $170,000 to local community, sporting and cultural initiatives and social causes.   A Year of Supporting and Developing our People Our Team Members make a meaningful difference at The Mutual Bank through their passion, dedication and commitment to our values of Integrity, Respect and Care.We recognise that our People are our greatest asset and that without great people, we cannot succeed. We remain committed to supporting our people with flexible work arrangements, career and development pathways, employee benefits, wellbeing initiatives, and facilitating collaboration and communication forums. Looking To The Future Our Members will remain at the centre of our Strategic Plan with all organisational decisions and efforts focused on achieving our vision of becoming the bank of choice for the Hunter and regional communities. We remain committed to our Channel of Choice Strategy, maintaining financial strength and robust risk management and resilience and supporting our local communities.The Mutual Bank is financially strong, well capitalised and committed to balancing short-term financial performance with long-term sustainability to ensure that our Members banking needs are met. We sincerely thank our Members for their unwavering loyalty and support, and all Team Members of The Mutual Bank team who provide exceptional service and continue to strive for excellence to ensure that we continue to meet the banking needs of our Members. View the full Annual Report online here.

Imagine stepping into your first home sooner than you thought possible, with less upfront cost and more flexibility.  The Australian Government 5% Deposit Scheme is designed to help first home buyers, single parents, and legal guardians fast-track their journey to home ownership. With low deposit requirements and no income caps or Lenders Mortgage Insurance (LMI), it’s a great way to get started.  Whether you're buying a cosy apartment, a family home, or building on vacant land, the Scheme gives you the freedom to choose a home that suits your lifestyle, location, and budget.  Low deposit options - 5% for first home buyers, or 2% for single parents/legal guardians.  No income caps  No Lenders Mortgage Insurance  Wide choice of home types - from apartments to house-and-land packages.  Unlimited spots  Ready to get started?  Use the Housing Australia online eligibility tool to check your status in minutes and check out the price caps for the area you are looking to buy in with the postcode tool. Then, speak with a one of our Lenders to explore your options and start your journey to home ownership. 

We’re thrilled to announce that The Mutual Bank has been recognised as a leader in Australian banking at the 2025 WeMoney Financial Services Awards!  Our achievements this year:  Lender of the Year (Customer Owned Bank) – Home Loans (Winner)  Best for First Home Buyers (Finalist)  Term Deposit Account of the Year (Customer Owned Bank) (Winner)  Outstanding Customer Service – Personal Loans (Winner)  Outstanding Customer Service – Car Loans (Winner)  These awards are a testament to our commitment to delivering outstanding value, service, and support to our Members.  With WeMoney’s audience of more than 1.3 million Australians (93% of whom are Gen Z and Millennials) these accolades cement The Mutual Bank’s position as a trusted choice for the next generation of banking customers.  Thank you to our dedicated team and loyal Members for making these achievements possible.   We’re proud to help our communities thrive with award-winning products and service. 

We’re thrilled to announce that a new version of the Mutual App is now available in the App Store and on Google Play. It’s packed with improvements designed to make your banking experience better than ever. What’s changing? We have listened to Member feedback and the latest upgrade introduces a fresh, modern design with a new menu that makes navigation faster and more intuitive. You’ll also be able to personalise your experience by adding a profile picture and customising your Home screen with widgets like Accounts or Savings Goals. Enhanced security with Confirmation of Payee With this upgrade, we’ve rolled out Confirmation of Payee (CoP) – a new feature that helps ensure your payments go to the right person. When you make a first-time payment or update a saved payee, CoP checks the account name against the recipient’s bank records and gives you a match result before you proceed so you can ensure the funds go where you intend them to. Learn more about Confirmation of Payee. When can I get the new app? The new version will be available for download later this week in both the App Store and Google Play. If you have your device set to automatically update, it will happen automatically. Members using the older version of the app will receive an in-app message encouraging them to upgrade. Why upgrade? While the app will continue to function, the new version offers a more seamless experience – especially for payments. We’re excited to bring you a better way to bank - and we thank you for being part of The Mutual Bank.

After careful consideration, we have made the difficult decision to close our Edgeworth Branch (including the ATM) on 30 September 2025, which will be the last day of trading.    This decision was not made lightly given that we remain firmly committed to providing a physical branch network for our Members.    Why is the branch closing?  The Mutual Bank must ensure that our Members’ funds are used prudently and invested where the greatest value can be provided to our Members.  Given the Edgeworth Branch has only seen 20 Members visit in the past six months, it is no longer viable to continue its operations.  We intend to redeploy these funds into our physical branch network, including refurbishment of existing branches and assessing future locations for new branches and also continuing the uplift of our digital and virtual capabilities.  What will happen to the current staff?  We are pleased to inform you that no staff will lose their jobs because of this closure. All staff members will be redeployed to our other branches within the network, ensuring that their expertise and dedication continue to benefit our Members.  What about the Members who used the Edgeworth Branch?  We are committed to keeping our Members informed throughout this transition. Members who frequently use the Edgeworth Branch have been contacted personally.   Members are welcome to visit our Mayfield Branch and can check our website for the locations of other branches. We are keen to maintain our physical presence and are actively looking into opening another branch in the Hunter Region to better serve our Members.  We understand that this closure may cause inconvenience to some Members, and we sincerely apologise for any disruption this may cause.  We appreciate your understanding and continued support as we strive to provide the best possible service to our Members.   What is the future of The Mutual Bank’s branch network?  As a customer-owned bank, branches are an important part of our service delivery and our strategic approach of providing Members with a choice of channels to do their banking.  We are actively looking for better positioned locations in the Hunter to best serve our Member base.  The Mutual Bank is investing in our branch network with a refurbishment plan and have just completed our East Maitland Branch renovations.   

In a world of change, Lyn Maber has been banking with The Mutual Bank for almost 60 years - and 44 of those years at the East Maitland Branch. She helped The Mutual Bank CEO Mark Williams cut the ribbon on Tuesday 3 June 2025 to officially open our newly-renovated branch on George Street East Maitland. Mark said the bank’s vision was to create a modern and functional environment that customers would love, and teams would enjoy working in. “Our passion for service shines through every aspect of our business,” Mark said. “We are committed to providing exceptional personal service in our branches, and this newly renovated branch is a testament to that commitment. This contemporary, state-of-the-art facility brings a fresh, modern feel for our Members, and for our Branch Team.” Ms Maber said she loves her new-look branch and was happy to continue her long stint of banking locally. “I’ve been with The Mutual Bank since I was about 18, and I am nearly 77!” she proudly exclaimed. “It’s the service, the friendliness that keeps me coming back. “I have been a member since I was in my late teens and back then it was a branch in Church Street Maitland. “When the East Maitland Branch opened [in 1981] I started to come here, and I’ve always stuck with them as they've always looked after me. “Only recently I needed some help with my cards because of scammers, and the service I received was extra special.“ One of the exciting new features of the renovated branch is a special area dedicated to community organisations. “We believe in supporting our community, and this space is available for local charities, sporting organisations and fundraising groups to use during branch hours,” said Mark. “They can bring in posters, set up a laptop, and engage with people who visit the branch about their upcoming events or initiatives. This is our way of giving back and fostering a strong sense of community.” Mark praised the architects, ARCH, and builders Collaborative Construction Solutions for making the vision of a new branch a reality with a seamless project.“Their expertise and dedication have been instrumental in bringing this project to life," he said. “Most importantly, we thank our Members for their patience and continued support during the construction period and we hope they enjoy the new look and features of their branch.”