News

1 May 2013

The teachers at Marsden State School have unveiled their brand new staffroom after winning $20,000 in QT Mutual Bank’s Staffroom for Improvement competition late last year.

The staffroom makeover was revealed on Friday 19 April by QTMB Chair Peter Whitelaw and Logan branch manager David Newey, who congratulated the Principal and staff on the staffroom's drastic transformation.

QT Mutual Bank CEO Mike Murphy said it was great to see the Marsden State School staff settling into their new relaxing space.

"Marsden State School received outstanding support from their community, scoring the most 'apples' as votes to win them the $20,000 Staffroom for Improvement prize in October last year," Mr Murphy said.

"Adding massage chairs, a new plasma television and coffee machine, the hard working teachers at Marsden State School will now have a staffroom they can be proud of and deserve."

"Each year, the Staffroom for Improvement competition never fails to show the Queensland community's unwavering support for their local teachers – it is truly inspiring and great to see their hard work is appreciated."

Beating more than 1100 schools across the state, Marsden State School won $20,000 to create their ultimate staffroom thanks to the many students, parents and members of the community who showed their support by voting.

The Queensland-wide Staffroom for Improvement competition will be on again in 2013, with voting kicking off at the end of August.

20th March 2013

After 38 years of service – and eight as QT Mutual Bank CEO – Mike Murphy announced today that he is retiring, effective from 30 September 2013.

Mr Murphy said while it would be difficult to leave, he was confident the timing was right to move on.

“I am grateful to have spent the past 38 years with QT Mutual Bank, and deeply honoured to have had the opportunity to lead it for the last eight,” Mr Murphy said.

“There have been frequent challenging times during my tenure as CEO and I am very proud of what we have achieved.

“I am confident that QT Mutual Bank is well positioned for its next phase of growth and success.”

Mr Murphy listed his proudest achievements at QT Mutual Bank as overseeing the successful transition from a credit union to a mutual bank, introducing Australia’s only and award winning rate tracker mortgage loan that aligns with interest rate movements announced by the RBA, modernising the exterior of the Head Office building, promoting the values of mutual banking as customer owned working exclusively in the customers’ best interests, growing the Mutual Bank to a $1bn plus organisation, with strong financial credentials, obtaining the highest credit rating a mutual bank can receive and maintaining the strong personal service culture.

Peter Whitelaw, Chair of the QT Mutual Bank Board of Directors, praised Mr Murphy’s contribution to the organisation.

“On behalf of the board I would like to thank Mike for his dedicated service over almost four decades,” Mr Whitelaw said.

“Mike has overseen the development of QT Mutual Bank into a member owned organisation that is responding to the increasing demand for innovative solutions to the banking needs of our members.

“The Bank under Mike’s leadership has successfully operated in a period of significant change and in an increasingly competitive landscape.

“I and the rest of the Board wish Mike all the very best for a well-earned retirement.”

Mr Whitelaw said the Board would immediately begin the search for Mr Murphy’s successor.

“The Bank will build on its existing strengths to provide for a smooth leadership transition and continuing innovation and good governance.”

QT Mutual Bank is 100 percent owned by its members.  While conventional banks are owned by shareholders, QTMB exists solely for the financial needs of everyday Queenslanders. 

26 February 2013 - by Stephanie Brown

QT Mutual Bank and Victoria Teachers Mutual Bank have come together to support CUFA’s Teachers Project in Myanmar which will help provide quality education to the children of Myanmar.

As part of their corporate citizenship programs, Victoria Teachers Mutual Bank and QT Mutual Bank are collaborating to support CUFA’s Teachers Project in Myanmar.

Myanmar is a country that has been ravaged by civil unrest for the past 60 years. Now in a more peaceful time, the country is in a period of growth. In order to ensure this nation has a more prosperous future, it is important to provide the children of tomorrow with an education.

A government school scheme is in place in Myanmar but unfortunately, many living in poor communities cannot afford to send their children to this user-pays system. In order to overcome this, poor communities have come together to establish informal schools where the teachers work on a very low income to help provide children with an education.

However, the community faces an immense challenge of paying the teachers an industry appropriate salary for their dedication and commitment to providing a quality education to the children enrolled. They are currently relying on donations from the community but this is limited and insufficient. Teachers often have to seek employment elsewhere to complement their pay as they do not earn enough to survive. As a result, the teachers are faced with immense financial burden.

It is important that the teachers receive adequate payment for their work as it ensures they remain engaged in the education system, feel valued and fully committed to their task of educating, rather than being concerned with alternative means of earning an income. A committed teacher will ensure the children receive a better quality education.

Rather than simply paying the teachers a salary, CUFA would like to see a more long term and sustainable solution to the problem at hand. The money from local village savings as well as the funding received from Victoria Teachers Mutual Bank and QT Mutual Bank will be used to provide loans to local credit union members.. The locals will be required to pay interest on the loans and it is this interest that will be used to pay the teachers’ salaries. This outcome ensures the teachers are adequately rewarded for their time and energy in educating children, as well as creating a maintainable schooling system.

QT Mutual Bank CEO Mike Murphy said the CUFA Teachers Project in Myanmar would not only benefit teachers but entire communities long term.

“Teachers are one of the most valuable resources in any community, in any country and the role teachers play in shaping our children into the adults they will become cannot be overstated,” Mr Murphy said.

“To allow the teachers in Myanmar to concentrate on educating the local children is something we are extremely proud to support”.

“The long-term, sustainable vision of CUFA for this Teachers Project makes it a great initiative which will ultimately allow the country to continue to grow and prosper”.

Victoria Teachers Mutual Bank’s CEO, William Wolke, is proud of their involvement in the Myanmar Teachers’ Project. “We are pleased to be able to focus our CUFA donation to a project directly aligned to teachers and their local community. Being an education based organisation, we understand the importance education has in building social capacity within communities. Our collaboration with QT Mutual Bank will help CUFA to continue their work and achieve sustainable outcomes in Myanmar.”