Member Centre

Heritage Bank is a mutual financial institution based in the Queensland city of Toowoomba. Find our financial results, Annual General Meeting, environmental policy and other disclosures in our Member Centre.

Latest Financial Updates

Our financial results for 2020/21

In this update, hear from Heritage Bank CEO Peter Lock and Chief Financial Officer Paul Williams about our complete financial performance during the 2021 financial year and our outlook for the 2022 financial year.

Our latest financial report

Read the complete 2020/21 financial report including our Director's Report, Financial Statements and Independent Auditor's Report.

Highlights of our 2020/21 financial results are as follows: 

  • The record pre-tax profit of $64.40 million was up 24.6% on 2019/20.
  • The after-tax profit of $44.81 million was up 23.5% on 2019/20, and just fractionally lower than the record after-tax profit of $45.04 million in 2017/18.
  • Total consolidated assets grew by 11.2% to reach $11.943 billion at year’s end.
  • Loan approvals grew by 31.6% to total $2.464 billion for the year.
  • Retail deposits grew by 18.7% to reach $9.383 billion at year’s end – double system growth. 
  • Mortgage loan arrears greater than 30 days remained extremely low at 0.45%.
  • The capital adequacy ratio at year’s end was 14.28%, and the liquidity ratio was 24.30%. 
Heritage Bank People first
All Financial and Member Reports
Learn about the historical financial performance of Heritage Bank with our video and reports library.
Annual General Meeting

We invite our members to attend our Annual General Meeting (AGM), to hear firsthand about our performance and future plans for the Bank. At these meetings, members have the opportunity to raise matters with the Board of Heritage and ask questions of our current external auditor regarding the Auditor's Report. The AGM is generally held in October each year and announced here prior to the event.

The 2021 Annual General Meeting was held on 27 October 2021. 

Financial Information

Our Directors & Management
Meet the leaders who help make Heritage Bank what it is today.

"We have entered into discussions with South Australian-based People's Choice Credit Union to explore the possibility of a merger of the two organisations"

Heritage Bank Member Report 2020/21, page 7 - Read the report
Our Policies

We operate under a constitution and recognise the importance of embedding sustainable and ethical business practices in our operations. 
Heritage operates under a constitution. View our constitution to learn more about how we operate.
Environmental, Social and Governance Policy
We have a responsibility to be guardians of our members' financial futures and our commitment to this is outlined in our ESG Policy.
Whistleblowers Protection Policy
We place great importance on fostering a culture that encourages staff and others to speak up about issues and conduct that concern them.
Member Commitment

We support our members, and their wider communities, by making a positive difference through a diverse range of community and charitable initiatives.
Member Report 2020-2021
Read our latest Member Report that includes updates on our key sustainability commitments, Transformation Program and our community support initiatives. 
Member Charter
At Heritage, what motivates us isn’t how much profit we can make, it’s about making people’s lives better. Our Member Charter outlines our commitment to our Heritage members.
Customer Owned Banking

Heritage Bank is owned by our customers, not shareholders. So instead of pursuing massive profits, our focus is on putting People First. 
The customer-owned advantage

"The profits we make are used to support our members and the communities they live in. Our goal is to make a positive impact to the community, nurturing growth through a diverse range of initiatives"

Heritage Bank Member Report 2020/21, page 21 - Read the report