Heritage Building Society’s long-serving Deputy Chairman Graeme Kidd announces retirement

Heritage Building Society’s Deputy Chairman Mr Graeme Kidd has announced his decision to step down from the Board after almost four decades of distinguished service.

Mr Kidd became one of the youngest directors in the organisation’s history when appointed in 1974, aged just 31. He has gone on to become one of the Society’s longest serving directors, with more 36 years of continuous service on the Board of Heritage and its predecessor. He has been Deputy Chairman since 1995.

Mr Kidd will step down following the June meeting of the Heritage Board.

Heritage Chairman Mr Brian Carter paid tribute to the contribution Mr Kidd has made to the Society.

“Graeme Kidd has played a significant role in Heritage‘s development and success. In particular, Graeme is always at pains to ensure that the best interests of the Society’s members are taken into account when any decision is made.

“I acknowledge Graeme’s consistent support of me as Chairman and I could not have had a more loyal and supportive Deputy Chairman than I have had in Graeme since 1995.

“The board and I wish Graeme and his wife Carolina a long, happy and healthy retirement.“

Mr Kidd began his association with the Society in 1974 when appointed as a Director of the Toowoomba Permanent Building Society, the organisation which merged with the Darling Downs Building Society in 1981 to create Heritage.

Mr Kidd said much had changed since those days – in 1974, for instance, the Directors themselves carried out valuations of properties that were being lent against and even personally knocked on the doors of people to chase up late repayments.

What has not changed is the important role the Society plays in fulfilling the financial aspirations of ordinary people in the community.

“I’m really quite passionate and proud that Heritage can provide the ordinary everyday Australian family with everything they want in banking,” Mr Kidd said.

“With all the products and services that we offer, there really is no need for people to go anywhere else.

“Heritage consistently offers lower interest rates on loans and higher interest rates on investments. We provide tremendous service to the ordinary family and that’s a wonderful thing for the community.”

Mr Kidd was also extremely proud of the way Heritage had weathered all the obstacles it had come up against throughout its history to become such a strong and successful organisation.

“Heritage has grown and prospered through thick and thin, through a number of economic cycles. Looking right back, we’ve been through world wars, a depression and all sorts of other ups and downs, and we’re still here serving the people of our communities. Despite all we’ve been through, we are even stronger now, with the past 11 consecutive years of record pre-tax profit,” he said.

“Our members have also been very supportive, - just think of the number of generations of families who have always banked with Heritage. For some it’s up to five or six generations.

“We’ve had strong leadership from our Boards over a long period, we’ve had a series of excellent CEOs, we’ve had outstanding staff who are very loyal and who give wonderful service to our members – that’s an excellent recipe for success.”

Mr Kidd’s replacement on the Board will be announced in the near future.

* Based on a $150,000 loan over 25 years. 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.