What is a Target Market Determination?

A Target Market Determination (TMD) describes the type of consumer that a financial product has been designed for, based on their needs, objectives, and financial situation.

It is a written document that is publicly available and outlines:

  • The class of consumers (including members of The Mutual Bank) who comprise the product's target market;
  • How the product is distributed to members, including any conditions or restrictions on the distribution of the product, and any information that must be reported by distributors of products as issued by The Mutual Bank; and
  • How often the TMD for a product is reviewed including the circumstances that may require The Mutual Bank to review the product TMD.


Why does The Mutual Bank have product Target Market Determinations?

The Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019 requires issuers and distributors of financial products to have TMDs for each of these products, which is part of a broad framework designed to ensure that customers are at the centre of the approach to the design and distribution of financial products.

The Mutual Bank is a regulated entity engaging in retail product issuance and distribution and is required to report complaints and significant dealings in relation to products that are not consistent with the product TMD in accordance with the Corporations Act. To make a complaint about a product that is issued or distributed by The Mutual Bank, including a product TMD, contact us on this website or visit one of our Branches.


If you require a previous version of a TMD or a TMD for a product no longer for sale, please contact us.

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Important Information

A TMD is not a recommendation, an opinion, or advice about whether any person should acquire the product, or whether a person is within the target market for the product. Your objectives, financial situation and needs for acquiring a particular product may differ from others, as described in the Class of Members in the product TMD. A product TMD does not summarise the risks of acquiring a product, members should refer to the Product Disclosure Statement and Terms and Conditions to determine the risks for themselves. Persons considering applying for a product as issued and/or distributed by The Mutual Bank should contact us to obtain information about the product and the application process.