The Mutual today announced it will become the 'The Mutual Bank', with the organisation to change its name from Friday the 1st of March 2019.

Chairman of The Mutual, Trevor Robinson, said there would be no change to organisational structure or ownership - the transition reflects The Mutual's committment to continuing to grow and evolve with the Hunter community; with the new name better articulating what the organisation already does.

"As a member owned organisation The Mutual remains committed to our members and the ongoing delivery of the excellent service, products and community engagement we have always provided, " said Chairman of The Mutual, Trevor Robinson.

"This change reflects our vision for the future of our organisation. 'Building Society' is no longer a commonly used or widely understood term. As a contemporary financial institution, we are updating our name to clearly communicate who we are and what we do,"Mr Robinson said.

Established in 1888 as the Maitland Permanent Building Investment and Loan Society Limited and Savings Bank, the change reflects a transition to The Mutual's original status as a bank.

"Community is a core focus at The Mutual it's at the heart of everything we do," said CEO of The Mutual Geoff Seccombe.

"Being a member owned bank will allow us to continue to serve our members and the local community with best - practice financial products, services and support - our highest priority is always our members, and it always will be," Mr Seccombe said.

The Mutual's legal name will remain Maitland Mutual Building Society Limited with any future change to be put forward to members at an Annual General Meeting, where members will have the opportunity to vote.