In March 2023, two of Australia's most established customer-owned financial institutions - Heritage Bank and People's Choice Credit Union - united to form People First Bank, creating one of the nation's largest mutual banks. This strategic merger brought together over 150 years of combined banking heritage, with roots tracing back to 1875 when the Toowoomba Permanent Building and Investment Society was founded. The new entity represents more than just a business combination; it's a bold statement about what banking can be when profits are redirected to benefit customers and communities rather than external shareholders.
People First Bank operates on a simple but powerful premise: putting people first in every decision. As a customer-owned bank, every member becomes a part-owner with a say in how the organization operates. With branches spanning South Australia, Northern Territory, New South Wales, Queensland, and Victoria, the bank combines the scale to challenge major financial institutions with the personalized service of a local mutual. The organization's commitment to purpose-driven banking is evidenced by its B Corporation certification and the work of the People First Bank Foundation, which supports programs addressing domestic violence, healthcare access, and educational equity. Beyond traditional banking services, People First Bank invests deeply in community through partnerships with organizations like the Adelaide Strikers, Western Bulldogs, and sponsorship of People First Stadium on the Gold Coast - demonstrating that a bank can be both a financial institution and a force for positive social change.
