Teachers Mutual Bank to merge with Fire Brigades Employees' Credit Union
Jonathan ChancellorDecember 7, 2020
Leading mutual lender, Teachers Mutual Bank intends to merge with the NSW-based Fire Brigades Employees’ Credit Union.
The boards of Fire Brigades Employees Credit Union (FBECU) and Teachers Mutual Bank have signed a memorandum of understanding.
FBECU has over 7,400 members and more than $215 million in assets. Teachers Mutual Bank was established in 1966, now with over 160,000 members and $4.5 billion in assets.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.