Heritage Bank

History

The Toowoomba Permanent Building Society was formed in 1875 and 1893 recorded a record profit. In 1897 Darling Downs Building Society launched and by 1914 had become the largest building society in Queensland. Over the next 20 years, the two building societies continued to grow and alternated as the largest building society in Queensland.

In 1934, Toowoomba Permanent Building Society moved its head office from Russell Street to a site at the corner of Russell and Neil Streets, Toowoomba where it remained for 43 years. Darling Downs Building Society's head office was located nearby Margaret Street, Toowoomba (1954) before moving to Ruthven Street, Toowoomba in 1971.

In 1981, Toowoomba Permanent Building Society and Darling Downs Building Society merged to form the Heritage Building Society, and in 1983 the head office moved to the newly constructed Heritage Plaza at 400 Ruthven Street, Toowoomba where it still sits today. Assets of the Heritage Building Society passed the $1 billion mark in 1995, the $4 billion mark in 2003, the $7 billion mark in 2009, and exceeded the $10 billion mark in 2019.

The first community branch for Heritage opened in Crows Nest in 1999, with a further six branches opening over the coming years.

In 2011, the organisation changed its name to Heritage Bank.

In 2018, it was announced that Heritage would expand its branch operations outside of Queensland for the first time, and in October 2019 the first branch opened in Castle Hill, New South Wales. As a part of this expansion, the Heritage Bank logo was also updated to remove the stylised "gates" that were a part of the original logo.

In August 2021, Heritage Bank entered discussions with People's Choice Credit Union about a potential merger, and in April 2022 both companies announced that they planned to merge, subject to a vote of the membership.

Members gave their approval on 16 November 2022.

Heritage provides retail, business, and agribusiness banking services as well as superannuation, general and commercial insurance products (through Allianz) and financial planning (through Bridges Financial Services).

Branch network

Heritage services its members through a variety of channels. One of the largest being its branch network, the Bank currently has over 50 locations in Queensland and New South Wales.

In January 2026, People First Bank announce that the following Queensland, branches will close at Millmerran, Oakey, Pittsworth, Toowoomba Range, Wilsonton, Hervey Bay, Kawana Waters, Kippa‑Ring, Coomera, Tweed Heads and Runaway Bay.

One branch will close in New South Wales at Macquarie Park, one in Victoria at Caroline Springs, and two in South Australia at Millicent and Blackwood.