From February 2019, a new bank called "Health Professionals Bank" will be launched under the Teachers Mutual Bank Limited brand.It joins Teachers Mutual Bank, UniBank and Firefighters Mutual Bank as the group provides finance options for various industry sectors and their families.
Teachers Mutual Bank CEO Steve James said they had identified a sector where key workers were being driven out of the market due to lack of affordability.This offering would see health workers across the board have access to all types of bank products from savings accounts, lending and even travel at very competitive prices.
The benefits can be offered because they are a mutual bank, so they don't have shareholders to pay. As a mutual you are the shareholder. All the benefits of a mutual goes back into lower interest rates.
The new offering begins in February 2019 and will be available via your mortgage broker in the third-party channel.
By Wayne Dickerson
October 9th, 2018