The story of our Mutual Bank

Our Story

Snow Star Credit Union was born when a group of 48 educators came together with a shared belief. 

They had grown disenchanted with the way many Australians were being treated by the big banks and wanted a financial institution that placed a value on what people did for the community – not simply by how much money they made.

So in 1972, they started their own financial institution - a mutual bank owned entirely by customers.

Founded on care and compassion, our first loan was to a single mother for a bond to acquire housing for herself and her two children.

After 4 decades of financially empowering educators to realise their dreams, we are still driven by the same founding values and focus on putting our customers first.

Formerly Victoria Teachers Mutual Bank, we changed our name in December 2017, to one that reflects our mutual bank’s focus on putting our customers first.

At Snow Star Credit Union we’re invested in you.