Heritage Bank

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For Heritage Bank, Nigeria, see Heritage Banking Company Limited.
Heritage Bank
Type Bank (Mutual)
Industry Banking and financial services
Founded 1875[1]
Headquarters Toowoomba, Australia
Products Banking, Savings and Mortgages
Website www.heritage.com.au

Heritage Bank Limited is Australia's largest mutual bank. It is customer-owned. Its head office is located in Toowoomba, Queensland, and it operates predominantly in the Darling Downs geographical area.[2]

Heritage has assets exceeding $8.5 billion as at 30 June 2013[3] and currently employs approximately 700 staff. It has 130 retail outlets across southern Queensland, including 59 full branch outlets. It also has broker services in Queensland, New South Wales, Victoria, and South Australia and other states. Heritage provides retail and business banking products, insurance and financial planning products and services through Heritage or through alliances with specialist providers.

As a mutual organisation, Heritage is collectively owned by its members, not by shareholders.[4]

History[edit]

Heritage Building Society was formed in 1981 by the merger of Toowoomba Permanent Building Society (est. 1875) and the Darling Downs Building Society (est. 1897). In 2011 the organisation changed its name to Heritage Bank.[5]

Heritage Notes[edit]

In October 2009 Heritage was the first mutual Authorised Deposit-taking Institution (ADI) to initiate an ASX listed debt transaction. Heritage raised $50 million from the issue of 500,000 subordinated, unsecured debt securities. The demand for Heritage Notes was extremely strong and the transaction was three times oversubscribed.[6][7]

Sponsorships and alliance programs[edit]

Heritage sponsors a number of events throughout its branch network, predominantly in the Darling Downs region where the majority of its member base lies. Some of the events that have been sponsored by Heritage in this geographical area include the Heritage Toowoomba Royal Show, the Heritage Ag Show, the Heritage Eisteddford and the Heritage Acquisitive Photographic Awards. Other events that Heritage has sponsored include the Everest Virtual Challenge[8] and the Queensland Half Marathon.[9]

Heritage operates a network of alliance partnerships between businesses and community groups such sporting clubs and environmental organisations.

External links[edit]

References[edit]

  1. ^ Heritage Bank - History
  2. ^ "About Heritage". Retrieved 2010-08-25
  3. ^ "Financial Information - Reports". Retrieved 2014-06-21.
  4. ^ "Our Brand". Retrieved 2010-08-25.
  5. ^ "History". Retrieved 2010-08-25.
  6. ^ "ASX - Announcements released as HBS". Retrieved 2010-08-25.
  7. ^ "Heritage Notes". Retrieved 2010-08-26.
  8. ^ "Sponsorships and Events". Retrieved 2010-08-26.
  9. ^ "Queensland Half Marathon". Retrieved 2010-08-26.