Newspaper article The Chronicle (Toowoomba, Australia)

Heritage Bank Is a Home-Grown Darling Downs Success Story

Newspaper article The Chronicle (Toowoomba, Australia)

Heritage Bank Is a Home-Grown Darling Downs Success Story

Article excerpt

THE story of Heritage Bank is one that should be a source of pride for everyone in the Toowoomba region.

Heritage Bank has grown from simple beginnings in Toowoomba to become a national player in the home loan market and Australia's largest customer-owned bank.

The Heritage Bank story starts in 1875 with the formation of the Toowoomba Permanent Building Society - exactly 100 years after the world's first building society was established in Birmingham, England in 1775.

Toowoomba was an ideal location for the new venture with a growing population, a rich agricultural catchment and plenty of housing blocks ready for development.

The prosperity of our region was such that another mutual financial institution - the Darling Downs Permanent Building Society - was established in Toowoomba in 1897.

In subsequent years both organisations operated side by side and spread beyond Toowoomba to service surrounding towns and regions.

Further years of prosperity followed until the decision to combine forces by merging the two societies to become Heritage Building Society in October 1981.

The company then moved into the newly built Heritage Plaza building in Toowoomba's CBD in 1982 - the city's first high-rise office building.

The creation of Heritage Building Society launched a period of strong growth for the organisation.

Not only did Heritage expand the range of financial products and services it offered customers, it also expanded its geographic footprint across southern Queensland.

In December 2011, Heritage took the step of changing its name from Heritage Building Society to Heritage Bank, a move that better reflected the role it plays for customers and the range of products and services it offers.

In early 2012, Heritage expanded its network of mortgage brokers nationwide to offer loans to customers in every state and territory in Australia. …

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