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Teachers Mutual Bank Limited has announced a range of support measures for their members who are adversely impacted by the recent COVID-19 restrictions, particularly in New South Wales.
The bank is offering several options to members who are currently experiencing financial difficulties because of the restrictions. These options include:
These support measures apply to all divisions including Firefighters Mutual Bank, Health Professionals Bank, Teachers Mutual Bank and UniBank.
Steve James, CEO of Teachers Mutual Bank Limited, said the group continues to monitor the COVID-19 situation to ensure that it provides sufficient support to its members.
"The COVID-19 situation in Australia is once again changing rapidly. We are thinking of our NSW customers who have recently entered stay-at-home restrictions and we are here to support any member who is facing financial difficulty as a result of the new COVID-19 restrictions," he said.
Glenn Becker, chief risk officer at Teachers Mutual Bank Limited, said these support measures will assist their vulnerable members in navigating their respective changing financial circumstances.
"If you need support during the new COVID-19 restrictions, please don’t hesitate to contact our Financial Hardship team who are ready to help and provide tailored solutions for your circumstances.”
Over the financial year 2019-2020, the bank was able to help over 960 members defer their mortgage repayments. As of the end of March, majority of these members have recommenced repayments with no foreclosures.
