Palmwoods Community Branch

It all started with people

After years of being overlooked by other banks, in the early 2000s the people of Palmwoods sought a way to access full banking services in their community. After investigating numerous options, it became clear that the Heritage Community Branch banking model made the most sense and would allow them full access to quality financial services on their doorstep.

In February 2006, 99 local investors raised $200,000 in capital to help set up the Palmwoods Community Branch. And now, as a joint-venture between Heritage Bank and the local community represented by Palmwoods Community Branch Ltd, a share of the profits from the branch are distributed back to the community in the form of Community Grants. These grants are used to support charities, sporting clubs and other local organisations in the branch footprint.

Ongoing success

Since opening, Heritage Palmwoods Community Branch has achieved great success investing $3.3 million in funds back into the community so far. And after eight years in operation, they have injected more than $1 million in grants alone back into the Palmwoods community, well ahead of their 10-year target. These grants have enabled local organisations to complete numerous essential projects that may have never been possible if it wasn’t for this mutually beneficial relationship between Palmwoods Community Branch Ltd and Heritage.

Here are some of the latest organisations we’ve been able to support:

Name of organisation



Palmwoods State School

New tuckshop and playground for children


Palmwoods Tennis Club

Repairs to courts


Palmwoods Kindy

Interactive whiteboard


Woombye Soccer Club

Upgrades to ground drainage and lighting


Palmwoods Cricket Club

Repairs to machinery and dressing rooms


Community Grants - profits back to the local community

Applications for the 2017 Palmwoods Community Grants are open from 1 February - 31 March. If your community group is from the Palmwoods area and would like to apply for a Community Grant, please contact your local Community Branch for more information.

* Home loan comparison rate based on a $150,000 loan over 25 years.  Fixed loan comparison rate applies only for loans with an LVR of 80% or less and a loan amount of $150,000 to $249,999.  WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Interest rates are on a per annum basis. Rates are correct as stated and subject to change without notice. Rates shown are for new loans and do not apply to switches or internal refinances.

Home Advantage Variable rates include discounts shown from the Standard Variable rate. Home Advantage Living Equity rates include discounts from the Living Equity rate. Discounts are based on total lending in the package. Discount Variable LVR rates are for new lending and include discounts from the Discount Variable Loan Rate.  Discounts are not available in conjunction with any other interest rate discount or special offer. All fixed rates are fixed for the period stated and revert to the variable rate applying at expiration of the fixed term. To approved applicants only. Conditions, criteria and fees apply.

Loan to Value Ratio (LVR) is the loan amount divided by the value of your security property (determined by Heritage Bank at assessment), multiplied by 100. Owner Occupied loans have a maximum LVR of 95%, Investment loans have a maximum LVR of 80% and Living Equity has a maximum LVR of 80%. Heritage is not accepting any new investment applications until further notice.

This advice has been prepared without taking into account your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness having regard to your objectives, financial situation or needs.

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