Heritage Building Society
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| Bank (Mutual) | |
| Industry | Banking and financial services |
| Founded | 1875 as Toowoomba Building Society |
| Headquarters | Toowoomba, Australia |
| Products | Banking, Savings and Mortgages |
| Website | www.heritage.com.au |
Heritage Bank Limited is Australia's largest mutual bank. Its head office is located in Toowoomba, Queensland, and it operates 61 branches throughout South East Queensland. A historical brand of the bank is the Toowoomba Permanent Building Society.
Heritage has assets exceeding $8.5 billion as at 30 June 2014 and currently employs approximately 700 staff. The bank has 100 retail outlets across southern Queensland, offices in every state capital, and lends to customers around Australia via a national network of mortgage brokers.
Heritage provides retail, business and agribusiness banking services as well as superannuation, insurance products and financial planning.
As a mutual organisation, Heritage is collectively owned by its members, not by shareholders.
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.
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.
Heritage sponsors a number of organisations and events in Queensland, including the Queensland Performing Arts Centre, Ekka, Queensland Half Marathon, the Queensland Eisteddford, the Heritage Acquisitive Photographic Awards, Heritage Toowoomba Royal Show, the Heritage Ag Show,.
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