17 April 2013 — Teachers Mutual Bank has moved from bronze to gold status in the annual Corporate Responsibility Index.

The organisation achieved a gold status with a score of 90 per cent, up from 79 per cent in 2012.

Developed in the UK, the CR Index is one of the world’s leading and most in-depth voluntary benchmarks of corporate responsibility for business.

Teachers Mutual Bank chief executive officer Steve James said the mutual bank believed profit had a purpose.

“In the past 12 months, we’ve continued to improve our organisational performance to become a national and international leader in sustainability. “

Measures that contributed to the bank’s performance and score include:

  • Total community investment of 4.18 per cent of pre-tax profits, 10 times the finance sector average
  • Platinum Sponsorship of CUFA, the development agency for the Australian mutual banking sector
  • Awarded the Equal Opportunity for Women in the Workplace Agency Employer of Choice for Women citation
  • A 17 per cent reduction in greenhouse gas emissions, a 25 per cent reduction in paper usage, and an increase in paper recycling of 63 per cent.