Lender review

Heritage Bank

LoanCaddie Opinion

Heritage Bank is a one of the smaller regional banks. It score relatively high on customer service and satisfaction.

Facts and lender background

Heritage Bank Limited is Australia's largest mutual bank. Its head office is located in Toowoomba, Queensland. A historical brand of the bank is the Toowoomba Permanent Building Society. 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.


Heritage Bank has assets of $9.5bn

Credit Rating

Heritage Bank is rated Baa1 by Moodys. The Australian Government's guarantee on deposits under the Financial Claims Scheme applies to deposits held with Heritage Bank.


Heritage Bank is a mutual organisation where it is owned by its members, not by shareholders


Heritage Bank is almost entirely funded by retail deposits.

Customer service
Product Review Rating

average is 2.1 / 5

Branch network

The bank has over 60 branches in southern Queensland. The bank's customer contact centre is also based in Toowoomba, Queensland and operates 24 hours a day, 7 days a week. You are able to transact at more than 3,200 Australia Post outlets that display the Bank@Post sign. This provides you with real-time deposits and the ability to draw cash.

Internet banking

Internet banking is available.


Customers can withdraw cash free of charge from any of the major banks ATMs.