With the benefit of the last three years as a director, I would like to share with you some of the insights I have gained during that time on the board.
The first is Victoria Teachers Mutual Bank’s strong understanding and focus on the financial needs of teachers and the education arena. This stems from the very beginning of the organisation and has not been lost or diminished over time. Others have broadened their horizons away from the sector, whilst the Mutual Bank has remained focused on the personnel who dedicate their lives to educating our young people as well as their families, friends and supporters. The benefits to our members of this deep understanding of the financial needs of the sector are tailored products and services specific to the needs of all members. An example of this depth of knowledge was demonstrated recently in a discussion regarding first homebuyers for both our younger members and older members wishing to assist their children with a first home purchase. The depth of knowledge of the sector’s needs and the desire to assist members in this area was compelling.
The second insight is the diversity of skill sets and thinking of the current board. This is a real strength of our organisation and, in large, is the legacy of our recently retired chairman Jonathan Hutchins who had the foresight and drive to achieve this capability for our Mutual Bank. Your organisation now has a diverse board with strong experience in the core competencies of Education and Financial Services.
This strength is something the board does not take for granted and continues to review both its performance collectively and what skills are required going forward. In my experience these are not outcomes that are easy to achieve. It requires a sound governance framework and a desire to continually challenge the status quo, which are both present in our organisation and are a real asset in the ever changing landscape of Financial Services.