Our History

With a history stretching back to 1875, we’re proud to be one of the longest-standing financial institutions in the country.

Our History

Heritage Bank has grown to today become one of Australia’s largest customer-owned banks and is one of the longest-running financial institutions in the country. Our origins can be traced back to 1875, when the Toowoomba Permanent Building Society was established. That was followed in 1897 by the formation of the Darling Downs Building Society. The two organisations co-existed side-by-side in Toowoomba until 1981, when they merged to become Heritage Building Society. 

In 1983, we established our Head Office in the newly constructed Heritage Plaza complex on Ruthven Street, the first high-rise office facility to be built in the Toowoomba CBD.  By 1995, our total consolidated assets passed the $1 billion mark. By 2005, we had reached the $5 billion milestone.  

In 2011, we changed our name to Heritage Bank, though our customer-owned structure remained the same. Our ongoing dedication to our members saw us take out the 2014 Canstar Blue Challenger Bank Award for Most Satisfied Customers, the 2016 and 2017 JD Power Australian Retail Banking Satisfaction Study and the 2018 Roy Morgan Customer Satisfaction Awards Bank of the Year.

It’s been a busy time over the past few years as we became the naming rights sponsor of the Empire Theatre’s 350-seat Toowoomba Regional Arts and Community Centre, the Heritage Bank Auditorium, and celebrated the 30th year of the Heritage Bank Photographic Awards.

We also established the Heritage Bank Charitable Foundation in 2018 with seed funding of $2 million, and in 2019, passed the $10 billion mark in assets and opened two new branches at Castle Hill and Parramatta in Sydney.