The Mutual has announced it will become The Mutual Bank, with the organisation to change its trading name from 1 March 2019.

Chairman of The Mutual, Trevor Robinson, said there would be no change to organisational structure or ownership. The transition reflects The Mutual’s commitment to continuing to grow and evolve with the Hunter community, with the new name better articulating what the organisation already does.

“As a member owned organisation, The Mutual remains committed to our members and the ongoing delivery of the excellent service, products and community engagement we have always provided,” Trevor said.

“This change reflects our vision for the future of our organisation. Building society is no longer a commonly used or widely understood term. As a contemporary financial institution, we are updating our name to clearly communicate who we are and what we do.”

Established in 1888 as the Maitland Permanent Building Investment and Loan Society Limited and Savings Bank, the change reflects a transition back to The Mutual’s original status as a bank.

“Community is a core focus at The Mutual, it’s at the heart of everything we do,” CEO of The Mutual, Geoffrey Seccombe said

“Being a member owned bank will allow us to continue to serve our members and the local community with best-practice financial products, services and support – our highest priority is always our members, and it always will be.”

The Mutual’s legal name will remain Maitland Mutual Building Society Limited until the next Annual General Meeting in September 2019, where members will have the opportunity to vote on the change of the organisation’s legal name.

IMAGE | Trevor Robinson, the Chairman of The Mutual Board