People’s Choice Credit Union and Heritage Bank merged in March 2023 to create one of Australia’s largest customer-owned banks, and our new brand – People First Bank.
While our story as People First Bank has only just begun, who we are reflects the deep roots and values of both our past brands.
The creation of People First Bank was guided by this simple principle: honouring the legacy of both institutions while embracing the potential for positive change. The histories that Heritage Bank and People’s Choice Credit Union brought to the merger are different but share the same foundation that underpins People First Bank today – a total focus on what matters most to our customers and our communities.
From our beginnings and throughout our history, one thing hasn’t changed. It’s in our name and it’s in our values: putting people first. People are our priority, and that remains as true today as it has been since 1875.
Our story in 3 minutes
Watch the video below to learn about our historic moments or download a special commemorative book that shares the stories of the people and communities that shaped who we are today.
150 years of purpose-driven banking
In 2025, we celebrated our 150th anniversary. As one of Australia’s oldest customer-owned financial institutions, our proud legacy of doing good is embedded in our origins.
Thank you for being part of our journey. We’re proud to mark this milestone with you and look forward to continuing serving our communities for many years to come.
Heritage Bank foundations
Our story starts with the formation of the Toowoomba Permanant Benefit Building and Investment Society in 1875.
Local community leaders formed the Society to give everyday people a way to access finance to buy their own homes, at a time when the banks refused to help them.
Toowoomba Permanent merged with Darling Downs Permanent in 1981 and grew to become Heritage Bank - all the while maintaining its focus on the needs of its customers.
The People's Choice for better banking
In 1949, the South Australian Public Service Association (PSA) decided to create something special: a credit union that could address an unmet need of its members.
The South Australian Public Service Savings and Loans Society emerged from a simple but powerful idea – to provide affordable financial services to public servants who struggled to access credit through traditional banks.
Through a series of mergers, including with Australian Central Credit Union in 2009, that organisation became People’s Choice Credit Union.
It's who we are – People First Bank
In 2021, merger talks began between Heritage Bank and People's Choice Credit Union to create a new national mutual that offered a distinct and compelling alternative to the big banks.
By November 2022, members of both organisations had voted yes to the merger. The merger officially took effect in March 2023.
In March 2024, the new People First Bank name and brand was announced. Today? We're re-branded and ready to serve our over 700,000 customers.
People First Bank milestones
With more than 740,000 customers and growing, 2000 employees, 55 branch and service locations across Australia, and almost $25 billion in total assets after our merger, we’re ready to kick-off new community initiatives, partnerships and events to build trust and connections with the communities we serve.
March 2026
- First products launched under the People First Brand
- Our new website, People First Bank App and Online Banking platform go live
November 2024
- Clearing begins on site of the new People First Bank Toowoomba head office
- Our first Annual General Meeting as People First Bank is held in Toowoomba
August 2024
- Our branches begin rebranding to People First Bank in South Australia and Victoria
June 2024
- The Heritage Bank Charitable Foundation is renamed to the People First Bank Foundation
- Our Toowoomba head office updates its signage to People First Bank from Heritage Bank
March 2024
- The rollout of our new brand begins with the renaming of People First Stadium on the Gold Coast
- Our AFL Coaches Box Partnership with the Western Bulldogs changes to the People First Bank name
- The People First Community Lottery launches under our new name
November 2023
- The first Annual General Meeting as a merged organisation takes place in Adelaide
March 2023
- The merger of People's Choice and Heritage Bank becomes official
Learn more about our values
Find out how we're renewing the spirit of community and commitment to doing good every day, for our customers, our communities, and the planet.
Sustainability and community impact
Find out how we're helping the individuals, communities and environments we impact thrive, and how you can get involved with our initiatives, events and charitable work.
Sponsorships
At People First Bank we support the wider community through corporate fundraising activities and initiatives and partner with a variety of organisations to help make a real difference in the community.
People First Bank Foundation
Our Foundation builds on the legacy of the Heritage Bank Charitable Foundation, and will continue to be dedicated to improving the quality of life for people in need throughout our communities.
Annual Reports
See our latest Customer and Financial Reports that detail how we're performing and meeting our commitments to customer service excellence, and reducing our impact on the planet.
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