18 August 2021

Heritage Bank announces merger opportunity with People’s Choice

Heritage Bank and Adelaide-based People’s Choice Credit Union, two of Australia’s leading customer-owned banking organisations, have announced they have entered into a non-binding agreement to explore a merger opportunity.

A detailed and thorough due diligence process is now underway to assess the member benefits. If both organisations decide to proceed, the proposal will go to a member vote which would occur in early 2022. Heritage and People’s Choice will provide further updates as required as the discussions progress.

Importantly, this announcement does not affect the operations of the Heritage Bank Charitable Foundation, nor our grant process. We’re happy to confirm that the Charitable Foundation would continue to operate, if the merger were to proceed.

Currently, the Foundation is in the process of reviewing applications for our second round of grants with recipients to be revealed later this year. We look forward to building on our fantastic contribution to helping those in need throughout our community.

Visit the Heritage Bank website for more information about this announcement including FAQs.  

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