Target Market Determinations

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 TMDs?

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.