Variable
Discount Variable
- Optional offset
- Free redraw
- No annual fee
Current rate: published on Heritage's own rate card
Customer-owned
Heritage Bank (People First Bank)
QLD-rooted customer-owned bank, merged with People's Choice in 2023 to form People First Bank. Strong Darling Downs and SA presence.
ToowoombaFounded 1875Australian Credit Licence 244310
Heritage at a glance
Heritage Bank (People First Bank) is a customer-owned (mutual) lender. It offers home loans.
On APRA’s August 2026 figures, Heritage and People's Choice Limited held $22.3 billion of home loans on its Australian books: 0.9% of the housing lending by the deposit-taking institutions APRA reports, the 11th largest of the 64 with home loans.
- Lender type
- Customer-owned
- Bank or non-bank
- Authorised deposit-taking institution (Heritage and People's Choice Limited)
- Credit licence
- ACL 244310, Heritage and People's Choice Limited
- Lends
- Home loans
- Headquarters
- Toowoomba
Strengths
- Customer-owned mutual
- Strong QLD regional and SA presence
- Solid prime variable rates
Watch out for
- Smaller product range than majors
- Branch network concentrated regionally
Heritage loans and products
What Heritage offers in each category, with the features, eligibility and trade-offs we note. For the current rate on each product, follow the link to Heritage’s own rate card.
Heritage home loans
Compare home loans lendersAlternatives to Heritage
Other lenders in our directory that offer home loans, starting with other customer-owned lenders.
- Bank AustraliaCustomer-owned. Home loans, Car loans
- Beyond Bank AustraliaCustomer-owned. Home loans
- Defence BankCustomer-owned. Home loans
- IMB BankCustomer-owned. Home loans, Car loans, Personal loans, Business loans
- Newcastle Permanent (Newcastle Greater Mutual Group)Customer-owned. Home loans, Car loans, Personal loans
- People First BankCustomer-owned. Home loans
More on Heritage
- Heritage review: pros, cons and who it suits
What Heritage offers, the trade-offs, and who should look elsewhere.
Heritage: frequently asked questions
Is Heritage a bank?
Yes. Heritage’s loans are provided by Heritage and People's Choice Limited, which is on APRA’s register of authorised deposit-taking institutions (ADIs), the list of banks, building societies and credit unions licensed under the Banking Act 1959.
Who owns Heritage?
Heritage Bank is a trading name of Heritage and People's Choice Ltd, which launched the People First Bank brand on 5 May 2026 and is using both brands for an interim period.
What is Heritage’s credit licence number?
Heritage and People's Choice Limited holds Australian Credit Licence 244310. You can check a licence on ASIC’s Professional Registers before you apply.