Australia’s first and only bank dedicated exclusively to pharmacists, pharmacy staff and assistants, nurses, midwives, other healthcare professionals and their families is open for business.
The Health Professional’s Bank offers current or retired pharmacists and pharmacy assistants access to Australia’s first mutual bank exclusively dedicated to healthcare professionals
Health Professionals Bank General Manager Carolyn Murphy said: “With more than 5,700 pharmacists and more than 38,000 pharmacy assistants Australia-wide, having a service that takes their professional and financial interests seriously, and is catered towards the industry’s unique needs is an important step forward.”
As an alternative to the big four banks, customer-owned Health Professionals Bank is part of Teachers Mutual Bank Limited, one of Australia’s largest mutual banks. It will focus on socially and environmentally sustainable banking, re-investing profits to provide competitive products and services, and benefit the community.
Ms Murphy insists nurses, midwives and other healthcare professionals deserve the full support of the financial services industry to help meet their specific needs.
“We understand the unique needs of the health professionals we serve. For instance, Health Professionals Bank recognises the difference between healthcare professionals working in primary healthcare, often private small businesses, and those in the public sector in hospitals, who can access separate tax incentives. Flexible banking options to accommodate shift work are essential, so we have a range of technologies and services to cater for that.”
The Health Professionals Bank takes into account the unique features of this key workforce, such as their penalty rates and public service salary packaging arrangements.