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As faster and more secure payment options have become available, more Australians are choosing alternative payment services to cheques. With cheque use in rapid decline, the Australian Government has announced that the cheque system in Australia will wind down no later than 2030. The Australian banking industry is now planning for this phase-out, with some banks and many merchants already no longer accepting cheques as a form of payment. We understand that ongoing changes in the payments landscape can be challenging for some Members, and we want to ensure you are provided with sufficient notice and support to adjust to a world without cheques. As a result of these changes to the Australian cheque system, The Mutual Bank will phase out cheques by 31 December 2025. We will be in contact with impacted Members to explain the phasing-out timelines and provide support with switching to the many alternative payment services available. We are here to help you navigate through this transition – please talk to our friendly Contact Centre Team on 1300 688 825 if we can assist you. You can learn more about the timeline and read our Frequently Asked Questions here.

The Mutual Bank’s Chair Steve Meyn has welcomed the appointment of Scott King and Steve Martinelli to The Mutual Bank’s Board of Directors. Mr Meyn said both men have extensive backgrounds in the banking and finance industry and bring a wealth of knowledge to the Hunter-based bank. “More importantly, both Scott and Steve are passionate about the Mutual sector and have a proven track record of working collaboratively,” Mr Meyn said. As a senior banking, finance and asset management executive, Steve Martinelli brings more than 40 years of experience in world-class local and global institutions to the Board, including as CEO of a customer-owned bank. Mr Martinelli will be a member of the Board’s Risk Committee. “Mr Martinelli brings deep experience across multiple international jurisdictions, and specialist expertise in consumer lending products, commercial lending, distribution, strategy and operations,” said Mr Meyn. Scott King has extensive experience in finance, risk management, strategy, and technology, including as CEO and CFO of a customer-owned bank, and has been a spokesperson, international speaker and commentator for the mutual banking sector. “With extensive strategic and operational experience, particularly at Board and Executive level, Mr King takes a collaborative approach to problem solving and decision making. He will also be a member of the Board’s Information Technology Committee,” said Mr Meyn. Mr Martinelli and Mr King joined current Directors Steve Meyn, Melinda Smith, Deb Mirisch, Sharon Howes and Geoff Seccombe from 18 May 2023.